Verizon to Prudential Annuity Deal Lawsuit May Be Over

I've been following this fight between Verizon and Prudential against a group of Verizon retirees.  In October, Verizon bought a group annuity worth $7.5 billion to cover the payments for about one-quarter of their existing pensions.  This allows them to ease their financial obligations and transfer the obligation and payments to Prudential, who will pay out the retirees through an annuity contract.  When I first read about the battle being waged by the actual holders of the pensions,... Read More

Prudential’s Annuity Rates Same for Men & Women

While this hasn't happened in America, I thought it was interesting nonetheless.  Prudential is closing the annuity gender gap in England, according to This is Money's Stephen Womack.  In his article, "Prudential is first insurer to close gender gap," today is the day that Prudential will offer the same annuity rates to both men and women.  The unisex pricing for new annuity products means that men and women will have the same lifetime income payments in retirement.  Annuity rates and... Read More

Entering Annuity Market Now With A Clean Slate

Although there have been some large insurance carriers leaving the annuity market recently, those who remain think that annuities are going to remain important vehicles for guaranteeing lifetime income.  The Financial Planning article by Katie Kuehner-Hebert asks "Is There Enough Capacity in Annuities?"  There are definitely challenges because of low interest rates, volatile markets, and capital constraints. This makes it imperative for companies selling annuities to be careful with their... Read More

Prudential & AIG Pick Up MetLife's Variable Annuity Business

As MetLife scales back on their variable annuities, other companies are picking up the market share.  According to Bloomberg Business News' "Prudential Joins AIG Taking Annuities Share From MetLife," Zachary Tracer says that Prudential and AIG are the main companies who have capitalized on MetLife's variable annuity changes.  Prudential has sold the most variable annuities this year, according to LIMRA.  Their second quarter sales were $5.35 billion, which was an 18% increase.  Their market... Read More

Variable Annuity Products Will Remain In Demand

Cogent research recently released study results in their Advisor Brandscape 2012 report.  They polled close to 2,000 financial advisors, all of whom maintain assets under management of at least $5 million.  This information comes from Financial Advisor magazine's "Variable Annuity Demand To Stay Strong, Says Survey."  Even though there has been volatility in the variable annuities marketplace, the advisors don't anticipate any drop in demand.  They plan to continue strong sales of variable... Read More

Variable Annuity Changes from MetLife, Prudential, Hartford

Three life insurance companies are changing their variable annuities in the wake of some tumult in the industry.  MetLife, Prudential, and the Hartford are either updating products or scaling down on variable annuity business, according to Darla Mercado of Investment News.  In her article, "VA changes at major insurers are afoot, executives say," Mercado summarized the changes we can soon expect.MetLife's net income increased by $1.07 billion from last year, to $2.26 billion.  Sales of... Read More

Prudential Annuities Offers Some New Choices

Prudential Financial's annuity business, Prudential Annuities, has added to their multitude of choices for their investments.  MarketWatch press release, "Prudential Annuities Adds New Funds to Leading Investment Lineup," introduces the new options for Prudential's clients.  Their two new asset portfolios are the AST New Discovery Asset Allocation Portfolio and the AST Schroders Global Tactical Portfolio.  Prudential now offers 19 portfolio choices, which cover four different strategies. ... Read More

New Head of Annuities at Prudential

There have been a couple personnel changes at Prudential Financial that should bring new energy into their Annuities and Group Insurance businesses.  The current President of Prudential Annuities, Stephen Pelletier, will now be the President of the Group Insurance business.  His 20 years with Prudential make him a great choice for managing their commitment to group insurance.  He helped the Prudential Annuities business become a leader in the industry through innovation and has held many... Read More

Volatility Managed with New Variable Annuity Tactics

Many big name insurance companies are changing their strategies for managing volatility, according to Investment News's Darla Mercado.  Unfortunately, the financial advisors with which they work don't have a good understanding of the new strategies or exactly why they are being used.  In the article, "New VA strategies confusing to advisors," Mercado says that many advisors are complaining that they don't know enough about these new variable annuity strategies to use them, let alone explain... Read More

Not Everyone Is Running From Variable Annuities

Sammons Retirement Solutions is moving forward with a new variable annuity despite many carriers steering clear of variable annuities.  Since interest rates have been low and the stock market volatile, insurers like MetLife and Prudential have lessened their variable annuity business.  Sun Life Financial, out of Canada, actually left the variable annuity business altogether.  These companies worry about hedging their living benefit guarantees with a less than ideal financial market.  But... Read More

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