- U.S. Insurers To Navigate A More Precarious Economy In 2023
Lower rates create more fallout for life insurers
Insurers face a multitude of headwinds in the coming months, among them sharply dropping GDP growth and near-double digit inflation in the U.S. and Europe. The increasingly difficult task of managing inflationary shock will cascade to insurance.
read more - Economic Stress Reprices Risk
Market hardening and higher interest rates are the silver lining for insurers as the global economy slows
Inflation continues to be the key concern for insurers according to Swiss Re Institute's latest sigma. The effect of inflation on the global economy has led to total global insurance premium falling slightly by an estimated 0.2% in real terms in 2022.
read more - LIMRA And LOMA Establish Four New Executive Advisory Boards To Guide The Future Efforts Of The Organization
Shared expertise and experience will help shape the collective future focus
LIMRA and LOMA today announced the formation of four new executive advisory boards focused on the life insurance, annuity, retirement plans and workplace benefits markets.
read more - Life Insurance Purchased On Perceived Value, Not Cost
Unique brand position, complete understanding of policy become key drivers of customer satisfaction
That adage about a life insurance policy being sold and not bought needs to be updated for the post-pandemic era. In fact, customers are initiating the purchase of life insurance, but the key criteria for choosing which one to buy often involves much more than cost.
read more - Life Settlements ‘Attracting Growing Institutional Investment’
83% of professional investors predict growth with life insurance policies lapsing or being surrendered boosting supply
The life settlements asset class is set to see growing institutional investment attracted by its stability of returns and safety as supply of policies continues to rise, new research* from international asset management company Managing Partners Group (MPG) shows.
read more - Voluntary Benefit Insights
A snapshot of the 2022 Open Enrollment Period
Over the course of the COVID-19 pandemic, Voya has been gathering consumer insights about how Americans are feeling about their personal finances and other workplace benefits and savings topics.
read more - Diversity, Equity & Inclusion
A mission to be proud of
National governments and global policymakers are increasingly prioritizing diversity, equity and inclusion (DEI) as important aspects of the second and third elements that make up environmental, social and governance (ESG) issues. Commitments to DEI are ultimately about progress and accountability, and they also demonstrate to policymakers the many benefits insurance products bring to national economies…
read more - Another Record-Breaking Quarter For U.S. Retail Annuity Sales
Investors seeking protection drive third quarter sales of fixed-rate deferred and fixed indexed annuities
For the second consecutive quarter, annuity sales reached new heights. In the third quarter 2022, total annuity sales were $79.6 billion, a 27% jump from prior year results, according to preliminary results from LIMRA’s U.S. Individual Annuity Sales Survey.
read more - U.S. Life Insurers’ Bermuda Reinsurance Exposure
There are benefits and risks to U.S. life insurers' growing dependence on Bermuda reinsurance
In recent years the amount of U.S. life and annuity reserves ceded to Bermuda-based reinsurers has surged, equaling one third of total cessions in 2021. This growth has corresponded with a flurry of new life reinsurers established in Bermuda over the past five years, with the majority tied to private-investment firms.
read more - Single Seniors Are Struggling To Retire
Women face the most financial challenges in retirement
Inflation and the current economic climate have put a financial strain on older Americans, and new data from American Advisors Group (AAG) shows that unmarried seniors are the most affected.
read more - Three Visions For Empowering Independent Agents
Cultivating an ecosystem of trust for a new generation of small business owners
Small businesses have a long road to recovery ahead. For some, it could take years to return to their pre-Covid baseline. Independent agents, with the inroads and infrastructure to connect small business owners, can play a vital role in quickening the recovery, rebuilding trust with the insurance industry, and creating resilience for small businesses in…
read more - Amidst Economic Headwinds, LIMRA CEO Focuses On Industry Opportunities
Almost 800 senior leaders from life insurance and financial services companies worldwide attended the industry's most prestigious meeting
Opening the 2022 LIMRA Annual Conference, David Levenson, president and CEO of LIMRA and LOMA, discussed the opportunities in the life insurance, annuity, and workplace benefits markets to serve more customers.
read more - Both Life Insurance And Annuity Customer Satisfaction Decline As Pandemic Fears Wane
State Farm ranks highest in individual life insurance satisfaction; American Equity Investment Life Insurance ranks highest in individual annuity satisfaction
State Farm ranks highest in individual life insurance satisfaction; American Equity Investment Life Insurance ranks highest in individual annuity satisfaction J.D. Power’s 2022 U.S. Individual Life Insurance Study and U.S. Individual Annuity Study reveal digital may now be the preferred means of interaction throughout the industries, but human interaction still matters. Annuity providers are underutilizing…
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