The outlook for the LTCI business is not good. The reason? Partly, the unexpectedly large tabs being rung up by existing policyholders.
Advisers not thrilled by short deadline on variable annuity pullback
Genworth Financial Inc. cut Chairman and Chief Executive Officer Michael Fraizer's annual bonus to a third of his target as the life insurer and mortgage guarantor failed to meet its goals.
Advisers are still fuming about the last-minute notice they received from Prudential informing them of a lock down of several popular annuities.
Changes keep coming in the variable annuity space, as MetLife Inc. will stop taking additional contributions to VAs with legacy living and death benefits next Monday.
Though variable annuity sales continue to be dominated by a few big companies, lower-profile carriers may seek opportunities in product innovation and new distribution channels.
New York Life going where other carriers fear to tread; risk management key
