AIG

AIG Launches New Index for Annuities

Last week, AIG Life & Retirement launched the new AB All Market Index that was developed exclusively for AIG’s Power Select Index Annuities by AllianceBernstein (AB). According to a recent Wealth Advisor article, the multi-asset index will be distributed primarily through Market Synergy Group (MSG). The AB All Market Index is not available for direct investment, similar to other indexes in an index annuity, but the performance directly contributes to the determination of the interest... Read More

New Fixed Annuity Product from AIG

After a stellar 2016, American International Group (AIG) has just introduced a new seven-year fixed annuity with a lifetime income rider. According to a recent Retirement Income Journal article, Assured Edge Income Builder is issued by American General Life Insurance Company and is currently available in over 20 banks and broker-dealers, with more distribution coming in the near future.This new product, as with other fixed-rate annuities, does not require sellers to satisfy the Best... Read More

Variable Annuity Decline Shuffles Annuity Sales Leaders

The LIMRA Secure Retirement Institute just published their quarterly annuity sales report detailing the "Top 10 annuity sales leaders" from the first quarter. In an article for LifeHealthPro, Kristen Beckman listed the top sellers and discussed the big power shift between fixed and variable annuities. Their data includes information from 64 companies who make up 96% of all annuity sales. Total annuity sales were $59 billion in the first quarter. Fixed annuity sales of $32.3 billion were higher... Read More

Many New Players in the Fixed Indexed Annuity Game

Before the final DOL ruling which included indexed annuities in the BICE rule requirements, indexed annuity products were the hottest news in the annuity industry. Sales skyrocketed in 2015 and many companies who weren't big players in the industry before came onto the scene strong. Insurance News Net's Cyril Tuohy wrote about the top selling companies and channels in the article "Crashing The FIA Party: Not Just The Top Companies Driving Growth." It remains to be seen what will happen in the... Read More

Indexed Annuity Sales Winners and Losers

2015 was a record breaking sales year for fixed indexed annuity products, especially in the fourth quarter. Nationwide Financial and AIG had the largest gains last year in indexed annuity sales. Investment News' Greg Iacurci summarized last years winners and losers in the article "Nationwide, AIG see huge gains in fixed indexed annuity sales; Allianz and Security Benefit flounder." 2015's record sales hit $54.5 billion, partly because of continued low interest rates, market volatility, and... Read More

Jackson National, AIG Led Second Quarter Annuity Sales

The LIMRA Secure Retirement Institute recently collected annuity sales data for their quarterly U.S. Individual Annuities Sales Survey. This information came from Investment News's article "Top 10 annuity sellers in the second quarter." Here is a summary of the second quarter sales figures before third quarter results are announced. Annuity sales increased between the first and second quarters of this year. During the second quarter, total annuity sales were $60.2 billion. This was 10% higher... Read More

First Quarter Annuity Trends Help Forecast the Year

First quarter annuity sales indicate that 2015 could be a good year for annuity products.  This information comes from Learn Bonds' "Q1 Annuity Sales Reports Indicate Positive Growth."  After last year's record breaking annuity sales, the annuity industry might continue along the same path this year.  Total annuity sales were $235.8 billion last year.  This was 3% higher than the year before.  Fixed annuity sales increased by 13%, led by strong indexed annuity growth.  Indexed annuity... Read More

Many Reasons for the Increasing Use of Deferred Income Annuities

We've talked before in this blog about the increasing popularity of deferred income annuity products.  Since 2011, their sales have increased from $211 million to around $2.8 billion last year.  The increasing sales of deferred income annuities have come partly from a decrease in variable annuity sales.  Investment News' Darla Mercado discussed the changing retirement income plan landscape in her article "Deferred-income annuities grab spotlight from traditional variable annuities."  DIAs... Read More

Longevity Annuities Are Poised To Take Off This Year

Yesterday's blog post listed some of the reasons why annuities are not in many defined contribution plans and why they are likely to be offered in many more plans in the future.  Jean Chatzky agrees with this and believes that longevity annuities are going to take off this year.  In a recent Fortune Magazine article, she explained "Why 2015 is the year for longevity annuities."  The Employee Benefit Research Institute's 2014 Retirement Confidence Survey found that only 18% of workers are... Read More

AIG Introduces New QLAC for Retirement Plans

The first longevity annuity created specifically to meet the new QLAC federal regulations has been introduced by AIG.  The company's American General Life Insurance Company created the American Pathway Deferred Income Annuity to be eligible as a qualifying QLAC in traditional IRA's.  This information comes from LifeHealthPro's "AIG jumps in with longevity annuity for IRAs," by Marlene Y. Satter.  The IRS changed the requirements for using these annuities in 401k and other retirement plans on... Read More

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