[2022 Archive] Industry Updates 

Important news and updates from insurance carriers, financial institutions, and solution providers for brokerage professionals and agencies. 

Please send announcements, press releases, or noteworthy developments to Jordan Foster for review and consideration. 

DECEMBER 2022

Stellar National Holdings Launches New Life Insurance Company
Stellar National Life is being launched with a focus on becoming a fully digital issuer of annuities and a partner of choice for the U.S. independent annuity sales channel. Stellar National Life intends to offer a mix of mainstream and niche fixed annuity products designed for banking, credit union and broker dealer distribution through its platform, as well as partner with other direct issuance private credit experts. Stellar National Life’s introductory fixed interest product series for the annuity market will include three, five and seven-year non-market value adjusted annuities (“non-MVA). Over time, Stellar National Life intends to offer a no-load advisor product suite and specialty designed versions of its products for defined contribution plans.

AIG to Officially Shut Unit That Failed in Financial Crisis
AIG announced today that the unit has filed a voluntary petition for chapter 11 bankruptcy in Delaware, as a way to close for good. Back in 2008, the woes of AIGFP, as it is known, caused its parent to teeter on the edge of bankruptcy.

NAIC regulators decline to move life illustration rework forward
A state insurance task force passed on a chance to endorse reopening the overall life insurance illustration model law, leaving the effort in limbo going forward.  The Life Actuarial Task Force met last week during the fall meeting of the National Association of Insurance Commissioners. During its two-day meeting, the panel declined to refer opening the life insurance illustrations model to its parent A Committee, or refer it to another group with expertise in illustrations, an NAIC spokesman said. 

DOL receives nearly 50k comments on independent contractor rule
The DOL independent contractor proposal would make it harder for companies to treat workers as independent contractors, potentially upending several industries, including financial services. Controversy continues to follow the rule proposals, which affect various industries in different ways.

Why High-Net-Worth Investors Are Paying More Attention to Annuities
Wealthy investors are wising up to the unique benefits of annuities. While these insurance-sold investment products are known as tools for turning savings into lifetime income, they are increasingly capturing the attention of high-net-worth investors as a way to maximize after-tax gains, leave more to heirs, offset the impact of inflation, and stabilize portfolios during a highly volatile time.

The Millennials Are Getting Older: Sammons Life Executive
Jerry Blair wants to see consumers who are young today get life insurance today.  Blair is president of the Sammons Life Insurance Group, the life insurance arm of Sammons Financial Group.  He entered the world of financial services through a job in a men’s clothing store more than 30 years ago, by selling a suit. The buyer turned out to be a new Prudential district manager. He called the store a few days and asked Blair to meet with a Prudential sales manager.

Top 10 Life and Annuity Deals of 2022, So Far
COVID-19, rising interest rates, a war in Europe and accounting rule change shock have put the brakes on U.S. life and annuity issuer dealmaking so far this year.  At press time, life and annuity issuers had not published the values of any large, conventional mergers or acquisitions.

LIMRA: Life combo products provide more options as LTCi market slows
As the market for long-term-care insurance (LTCI) slows, the need for life insurance combination products appears to be increasing, giving agents an opportunity to provide their clients with the LTC coverage they need, according to Alison Salka, senior vice president and head of LIMRA Research. LTCI sales remain low for a variety of reasons, Salka said. Many carriers underestimated the cost of the product, and claim losses exceeded expectations. This led to profitability issues that led a number of carriers to exit the market.

10 Questions Your Clients Are Asking Google About Life Insurance
Google wants to sell your clients everything.  Alphabet’s web search service recently rolled out a new flight search tool. It seems to make yet another major effort in health insurance every few weeks or so.  One sign of Google’s interest in your clients: When clients start to type in questions about life insurance, the search engine offers suggestions for completing the sentences.

Matt McAvoy Recognized with the 2022 Douglas Mooers Award for Excellence
NAILBA's most coveted and prestigious accolade, the Douglas Mooers Award for Excellence, was presented to Matt McAvoy at NAILBA’s 41st annual meeting in Dallas, TX. The Mooers Award honors distinction in brokerage and is presented to the individual most committed to furthering independent life brokerage as a distribution system, and who demonstrates an exemplary record of community service. McAvoy currently serves as Principal, Great Plains Divisional President for Ash Brokerage. 

Indexed, Multiyear Guaranteed Annuity Sales Rise In Q3
Sales for annuities were a mixed bag for the third quarter of 2022, but multiyear guaranteed annuities and indexed annuities saw remarkable gains, according to a report by Wink Intelligence, an insurance industry data reporting organization based in Des Moines, Iowa. 

Wolters Kluwer identifies top compliance challenges for U.S. insurers
The U.S. insurance industry’s top market conduct compliance challenges continue to relate to various claims handling requirements, including timeliness, required disclosures, along with payments and grievance and appeal processes—as well as underwriting, rating, marketing and producer requirements. This annual, comprehensive review by Wolters Kluwer Compliance Solutions of U.S. insurers’ market conduct enforcement actions is based on public regulatory data from 2021, examining the market conduct actions of U.S. property and casualty, life, and health insurers, including exams and other enforcement actions.

NOVEMBER 2022

Assured Allies Launches NeverStop, Creating a New Era of Successful Aging for the Growing, Wellness-Motivated 55+ Market
Assured Allies, creators of the first successful aging platform through evidence-based interventions, today announced the launch of NeverStop, a science-backed wellness program designed to create the next generation of long-term care (LTC) insurance that delivers benefits to individuals, their families and insurance carriers. 

S&P Expects More Big Life Insurer ‘Assumption Unlocking’ Charges
More life insurers could soon announce the kinds of big, “non-cash” charges that Lincoln Financial and Prudential Financial put in their earnings for the third quarter, an S&P Global Ratings analyst said today.

5 Top Life and Annuity Q3 Strength Indicators
Sometimes, helpful economic conditions make most big, publicly traded life and annuity issuers move in sync.  After those quarters, most or all issuers report higher net income on higher revenue.  In the third quarter of this year, which ended Sept. 30, different strategies produced noticeably different results.

Prudential launches ‘Now What?’ campaign, defying industry norms using moments of hope instead of fear
Prudential Financial, Inc. (NYSE: PRU) is launching Now What? — a new advertising campaign with a unique twist that distinguishes the brand from competitors by encouraging consumers to use uplifting moments to secure their financial future. Now What? advances Prudential’s purpose to make lives better, particularly as pandemic recovery continues and economic uncertainty remains.

DPL partners with Corebridge Financial to bring advisory annuity solutions to the RIA community
DPL Financial Partners, the leading insurance platform for registered investment advisors (RIAs), today announced the addition of Corebridge Financial to its carrier lineup with two commission-free Corebridge annuity products geared to fee-only advisors. Corebridge, formerly AIG Life & Retirement, is one of the largest providers of retirement solutions and insurance products in the United States.

NAILBA Announces Winners of 2022 ID Twenty Awards, Honoring 20 Insurance Innovators and Trailblazers
“For the fourth year in a row, we had the pleasure of celebrating the best of BGA principals, carrier executives, case managers, contract specialists, regional vice presidents, underwriters, techies, marketing and operational gurus with the ID Twenty Awards, presented at the Douglas Mooers Award for Excellence Dinner at NAILBA 41,” said NAILBA CEO, Dan LaBert. “These individuals are making their mark on the insurance profession with innovative solutions and a rock solid commitment to our industry and their clients.”

OneAmerica® Long-Term Care Survey Shares Consumers' Perspectives
The pandemic brought consumer awareness about the need for life insurance, but it didn't have the same impact on long-term care planning, according to new research from a 2022 OneAmerica consumer study on long-term care. Only 15% say the pandemic has been highly influential on their perceptions of needing long-term care, the array of personal assistance, and services people need over an extended time period because of a chronic illness or disability.

Ohio National Announces Structure and Leadership Changes
Ohio National Financial Services, Inc. (“Ohio National” or “the Company”) today announced that the Company is implementing certain structural changes in order to further its integration with Constellation Insurance Holdings, Inc. (“Constellation”) and to accelerate the execution of Ohio National’s organic and inorganic growth strategy.

Finseca continues collaboration with NAIC’s efforts to increase diversity in marketing, distribution, and access to life insurance products to better promote Financial Security for All
Today, Finseca CEO, Marc Cadin and four members of the financial security profession led a panel discussion with the NAIC Special (EX) Committee about their efforts to increase diversity and address unnecessary burdens placed on the professionals dedicated to providing financial security for millions of Americans.

Graying Brokerage Industry Prompts Need for Succession Plans: FINRA
The Financial Industry Regulatory Authority is encouraging registered representatives to have a succession plan in place to plan for unexpected life events and as more and more brokers are nearing retirement.

Insurance Technologies Changes Name to Hexure
Insurance Technologies, LLC, a provider of sales and regulatory automation solutions for the life and annuity industry, announced today its new company brand Hexure [heck-sure] to enable sharper strategic focus on leading the insurance, financial services and wealth management industries.  The name is derived from two powerful elements—hex and ure. Hex signifies strength and stability. [S]ure represents the legacy of Insurance Technologies’ extensive history in insurance. As part of the name change, the company has released a new company logo and launched its new company website at hexure.com.

Young Americans Seen Failing to Match Baby Boomers’ Wealth Gains
An epic four-decade boom in housing and stock prices made Baby Boomers the richest generation in US history. A new study shows just how difficult it will be for younger Americans to copy that success.  The wealth boom since 1980 widened the gaps between rich and poor and young and old to record levels, the research finds.

The Real Value of Annuities for Mass Affluent Retirees
Recent research released by Morningstar addresses the potential benefits of annuities in defined contribution (DC) retirement plans. This is a much-needed analysis at an important time when many employers and/or advisors are considering whether to add an annuity to a DC plan. The authors primarily judge the benefit of annuities using a failure rate method, which measures the probability of running out of savings. Failure rate analyses are an imperfect measure not commonly used by economists to estimate optimal retirement income strategies.

Sales of These Life and Annuity Products Could Surge Next Year
Wink CEO Sheryl Moore anticipates that annuity sales will increase by double digits next year. A key driver for fixed-rate annuities, she noted, is the large “spread,” or difference between rates paid on certificates of deposit and the higher yields offered on annuities.

Secure Lifetime Income Through Secure Act 2.0
Even during a contentious election year in Washington, Republicans and Democrats can agree on at least two things: retirement policy and a shared enthusiasm for lengthy acronyms. That’s good news for retirement savers, as both chambers of Congress have been quietly working on a bipartisan package of retirement policy reforms they hope to pass later this year.

OCTOBER 2022

NY Court of Appeals reinstates tough standard for life insurance, annuities
Regulation 187, passed in 2018 by the New York State Department of Financial Services, requires life insurance and annuity producers to base their sales recommendations on the best interest of the consumer, regardless of the advisor’s compensation or other incentives.

How DOL’s New Independent Contractor Rule Could Cause Major Headaches for Advisors
The proposed rule the Labor Department released Oct. 11 that would determine worker classification as either an independent contractor or an employee stands to create a major headache for financial advisors, according to David Bellaire, executive vice president and general counsel for the Financial Services Institute, an advocacy group.

Life insurance lags behind other sectors in adopting behavioral benefits
This type of insurance underwrites, prices, and pays out according to a customer’s behavior. Auto insurers use telematics or mobile apps that can reward drivers with lower premiums based on their driving habits. Health insurers feature wellness programs that can provide either credit or health savings account contributions linked to positive health behaviors.

Pacific Life Enhances Select Indexed Universal Life Insurance Products by Providing Additional Policyowner Flexibility
Pacific Life has added two new uncapped volatility control indexed accounts to select indexed universal life insurance (IUL) products. These indexed accounts are available on certain new and inforce policies and are tied to the BlackRock Endura® Index,1 which uses volatility controls to determine a daily mix of equities and short-term U.S. Treasuries to help navigate volatile markets.

Both Life Insurance and Annuity Customer Satisfaction Decline as Pandemic Fears Wane, J.D. Power Finds
Individual life insurance and annuity products—with the longest term lengths of long-term investment and insurance products—have created a customer engagement problem. According to the J.D. Power 2022 U.S. Individual Life Insurance StudySM and the J.D. Power 2022 U.S. Individual Annuity Study,SM both released today, customer satisfaction with these products starts declining relatively soon after they are purchased, resulting not only in low likelihood of consideration to purchase other insurance and financial services products but also a general lack of understanding of the products these customers already own.

State regulator group previews possible ‘quick fix’ to IUL illustration issue
For now, the group is accepting comments for three weeks on the following three concepts to fix AG 49-A:  Bobby Samuelson noted that his proposal actually encompasses the thoughts expressed by several letter writers. Samuelson authored a pair of letters with fellow product intelligence analyst Sheryl Moore. They favor removing the lookback option from calculations. 

Women double life sales, advisor study finds
More financial advisors are getting into insurance and women are outpacing men in business growth, both because of a broader scope of services, according to the latest edition of the experienced advisor study conducted by LIMRA and EY.

Uptick in Product Surrenders Has Treasury Team on Alert
Surrenders increased 12% between 2020 and 2021, to $363 billion, and surrenders amounted to 52% of the insurers’ 2021 net premium revenue, FIO officials write.

What Does the "Restructuring Tsunami" Mean for Annuities?
The emergence of private equity and asset-manager-backed insurance companies is leading to what Conning researchers call “a restructuring tsunami” in the annuity industry.  Scott Hawkins, Conning managing director and head of insurance research, described the role of new parties entering the annuity market and the shifting competitive landscape during the American Council of Life Insurers’ 2022 annual conference.

Investor and Advisor Recession Concerns Mirror Levels Seen at Height of Pandemic
The current macroeconomic environment has created a stressful situation for investors and advisors, leading to a sharp decrease in their optimism. Just 39% of investors are optimistic about their 12-month financial outlook, a 10-percentage point decrease from last year (49%). Similarly, only 48% of advisors and financial professionals are optimistic, a 15-percentage point decrease from 2021 (63%), according to Nationwide’s eighth annual Advisor Authority survey, powered by the Nationwide Retirement Institute®.

Corebridge Financial Names Terri Fiedler President of Retirement Services Terri Fiedler, President of Retirement Services, Corebridge Financial
Corebridge Financial, Inc. (NYSE: CRBG) today announced that Terri Fiedler has been named President of its Retirement Services business, effective immediately. She will continue to report to Kevin Hogan, Chief Executive Officer, Corebridge Financial.

Senior Market Sales® Acquires Ohio Family of Businesses Spanning 3 Generations Gerber and Associates LLC Will Continue Family Legacy With Insurance and Financial Services
Senior Market Sales® (SMS), one of the industry’s premier insurance marketing organizations, has acquired a family of full-service insurance businesses in Ohio spanning three generations of the Vic Gerber Sr. family.   SMS President Jim Summers said the acquisition preserves the legacy of Gerber and Associates founder Vic Gerber Sr. and allows for his son Vic Gerber Jr. and Vic Jr.’s sons Kyle Gerber, Victor (Max) Gerber and Clayton Gerber to expand on their success serving Doylestown, Ohio, clients with annuities and life, long-term care and Medicare Supplement health insurance.

Magnifact Announces Pilot Integration with DTCC's Insurance Information Exchange (IIEX) Platform
Magnifact® announced today it has successfully completed pilot testing of the integration of its cloud-based insurance platform with the Insurance Information Exchange (IIEX), a service offered by The Depository Trust & Clearing Corporation (DTCC), to help carriers and their distributors gain automated access to their most current position information.

NAILBA Announces Full Main Stage Lineup for 41st Annual Meeting in Dallas, TX
The National Association of Independent Life Brokerage Agencies (NAILBA, a Finseca Community) today announced the full main stage speaker lineup for its 41st annual meeting. For over 40 years, NAILBA has assembled the principals and senior management of the leading independent life insurance brokerage agencies for networking, demonstrations, and sharing of business knowledge. NAILBA’s annual meeting is revered as the most valuable event for the brokerage market. NAILBA 41 will take place November 14-16, 2022 at the Gaylord Texan Resort & Convention Center in Dallas, TX. 

Aspida Chooses FireLight® to Help Power Annuity Sales
Insurance Technologies, LLC, a provider of sales and regulatory automation solutions for the life and annuity industry, announced that Aspida Life Insurance Company (“Aspida”), a life insurance and annuity company, plans to use Insurance Technologies’ digital sales platform, FireLight, to help distribute its WealthLock℠ suite of annuity products to the broker-dealer channel.

Carriers and distributors use the multi-carrier platform FireLight to create and enable a seamless sales experience for their advisors and consumers. FireLight powers easy, digital data collection; improves in-good-order sales; increases efficiency; and meets regulatory requirements.

A.M. Best, S&P Global Ratings Each Affirm Strong Performance by OneAmerica
OneAmerica^® today announced that A.M. Best and S&P Global Ratings have each separately recognized American United Life Insurance Company^® (AUL) and its affiliate The State Life Insurance Company^® (State Life), both OneAmerica companies, for their financial strength. A.M. Best affirmed an A+ (Superior) rating, which is the second-highest of 15 rating categories assigned by the independent agency in evaluating financial strength and performance of the OneAmerica companies and their ability to meet existing financial obligations. 

Great American Life Unveils new Brand as MassMutual Ascend 
Great American Life Insurance Company announced today that it will now do business as MassMutual Ascend Life Insurance Company (MassMutual Ascend). The rebrand comes as a result of the company’s acquisition by Massachusetts Mutual Life Insurance Company (MassMutual) in May 2021.

Sagicor's IUL Portfolio Offers New Interest Crediting Strategies Linked to iShares ETFs
Sagicor^® Life Insurance Company (Sagicor) announces new interest crediting strategy options to their indexed universal life (IUL) insurance portfolio effective October 1, 2022. These options will be linked to the performance of iShares ETFs managed by BlackRock^®, a global asset manager and technology provider focused on helping millions of people invest to build savings that serve them throughout their lives.

SEPTEMBER 2022

Wink's Demo on Benchmarking Rates
The Product Rates page in our analysis tools allows you to view, filter, sort, save searches, and export current rates for all currently marketed products! 

Rising Rates Make Life Insurance Funded with Debt More Costly 
Rising interest rates and a falling stock market are putting new pressure on a popular strategy of borrowing to fund the purchase of multimillion-dollar life-insurance policies. Even before rates started to rise, consumers were being forced to make big payments when strategies failed to deliver the promised returns. Many sued their agents and insurers.

Life Insurance Technology Leaders Kick Off ITC Week at Equisoft’s Elevate, a Gathering to Spark Innovation and Ignite Growth
Equisoft, a leading global provider of advanced insurance solutions, held its yearly customer event “Elevate” in Las Vegas, in advance of Insurtech Connect. Life insurance technology leaders gathered for in-depth discussions about digital transformation with their peers.

Integrity and Heartland Financial Group Partner to Transform Life, Health and Wealth Offerings for Seniors
Integrity Marketing Group, LLC (“Integrity”), a leading distributor of life and health insurance, and provider of wealth management and retirement planning solutions, today announced it has entered into an agreement to acquire Heartland Financial Group (“Heartland”), a leading independent marketing organization (“IMO”) based outside Kansas City, Missouri. Heartland’s executive team of Todd Hill, President and CEO; Bill Cole, Chief Operating Officer; and Tegrey Moot, Chief Sales Officer, will now become Managing Directors at Integrity. As part of the transition, Heartland’s Founder, Chris McDaniel, will retire from Heartland, shifting his focus fully to insurance product development at his insurance company.

Royal Neighbors of America Achieves Member Milestone
Royal Neighbors of America, a fraternal benefit society located in Rock Island, Ill. has announced a milestone achievement of 250,000 members nationwide.

OneAmerica Launches Variable Universal Life Insurance
The companies of OneAmerica announce the expansion of their product portfolio to offer OneAmerica® Variable Universal Life (VUL) insurance. Distributed through the Individual Life and Financial Services (ILFS) line of business, this new product provides customers with a strong vehicle for protection, while also offering them the opportunity to invest in the financial markets. VUL customers have the flexibility to use the policy for life insurance protection, cash value accumulation or other financial needs. 

CL Life and Annuity Insurance Company Launches New MYGA Product to Market in Eight Weeks with FireLight
Insurance Technologies, LLC., a provider of sales and regulatory automation solutions for the life and annuities insurance industries, announces that CL Life and Annuity Insurance Company (“CL Life”), a provider of insurance products that offer policyholders stable growth, tax deferral and income planning, has launched FireLight® e-Application. CL Life implemented FireLight to get new products to market quickly and efficiently while providing a superior digital agent and customer experience.

Insurance Technologies has acquired MyMedicareBot 
Founded in 2018, MyMedicareBot provides enrollment, lead routing and analytics tools that drive Medicare membership growth, retention and profitability. The company’s product suite includes Field Agent Platform (a multi-carrier quoting and enrolling tool), Portfolio Analytics Platform (customized consulting service), and Member Retention and Conversion Program (AI-powered analysis of membership).

Second-Quarter Life Sales Point to End of the Covid ‘Dividend’
The average premium per whole life policy for the second quarter was $3,513, according to Wink’s Sales and Market Report.

Ohio National Rolls Out Whole Life Product Linked to Indexes
In the second quarter, sales of whole life insurance fell 3% from a year earlier, as measured by premiums, LIMRA reported on Tuesday. Market research firm Wink, which does its own survey, reported an even steeper drop of 6% to $1.1 billion. The category of final expense captured 56.5% of sales, Wink reported. MassMutual was the top seller of whole life in the second quarter with a market share of 15.17%, Wink said. The best-selling product was United of Omaha’s Guaranteed Plus Whole Life, the firm reported. 

Ibexis Life & Annuity Insurance Company™ Chooses FireLight® to Make Selling Annuities Easy.
Insurance Technologies, LLC, a provider of sales and regulatory automation solutions for the life and annuities insurance industries, announces that Ibexis Life & Annuity Insurance Company™ (“Ibexis”), a leading provider of fixed annuities, has implemented FireLight® Illustration and e-Application to deliver a fully electronic sales experience that makes the annuity sales process easy, intuitive and connected for advisors.

Wink, Inc. Releases Second Quarter, 2022 Life Sales Results 
Wink, Inc. released the second quarter, 2022 life sales results in its 100th edition of Wink’s Sales & Market Report. Wink’s Sales & Market Report is the insurance industry’s #1 resource for life insurance sales data, since 1997.

Taking a Fresh Look at the Annuity Portfolio
A new Issue Brief from the American Academy Of Actuaries takes a deep look at today’s annuity options and strategies.

Life Insurance Awareness Month Arrives Amid COVID-19 Lull
Life Happens launched the 2022 Life Insurance Awareness Month campaign Thursday, at a time when memories of the deadly COVID-19 spike that hit in January are fading.

U.S. Life Expectancy Fell Another 1.2 Years in 2021
The U.S. Centers for Disease Control and Prevention is reporting, based on early data, that overall life expectancy at birth fell by 1.2 years between 2020 and 2021, to 76.1 years, according to a new report and a comparable report based on 2020 data.

AUGUST 2022

Finseca and NAILBA Merge
Finseca and NAILBA have officially merged and created NAILBA, a Finseca Community. On January 4, 2022, Finseca and NAILBA announced an intent to explore a merger after significant due diligence conducted by a joint task force that included NAILBA and Finseca members, staff, and leadership. The merger between NAILBA and Finseca results in stronger brokerage distribution and accelerated efforts to reunify the profession – ultimately moving the profession to a position of greater significance and bringing together four segments of the profession that are critical for a unified voice.

Integrity Expands Medicare Coverage in Northeast by Partnering with Senior Planning Center
Integrity Marketing Group, LLC (“Integrity”), a leading distributor of life and health insurance, and provider of wealth management and retirement planning solutions, today announced it has acquired Senior Planning Center, an independent marketing organization (“IMO”) based in Farmington, Maine. As part of the acquisition, Tony Arruda, Founder and CEO of Senior Planning Center, will become a Partner in Integrity, and Stephanie O'Leary will become President of Senior Planning Center.

How Advisors Are Tackling Gaps In Financial Literacy
Some advisors are working to improve the situation. By contributing to financial literacy programs, they hope to alleviate the knowledge gaps and add value to their clients and their communities. Should you join them? Here’s a look at how different practices are tackling the issue.

NAIC’S LATF Solicits Feedback on Options to Address Concerns Related to AG 49-A
On August 15th, the NAIC’s Life Actuarial (A) Task Force (LATF) re-exposed for comment four options to address a concern raised by state insurance regulators regarding the use of illustrations for indexed universal life insurance (IUL) policies with volatility-controlled indexes that allow for crediting fixed bonuses under the policies. The four options include a brief revision to amend Actuarial Guideline (AG) 49-A with the possibility of opening up NAIC Life Insurance Illustrations Model Regulation (#582) to revision as well as a more extensive revision of AG 49-A. All were previously exposed by LATF’s Index Universal Life Illustration (A) Subgroup (the Subgroup) prior to the NAIC’s National Meeting in August for a shortened nine-day public comment period that ended on July 26, 2022.

Annuities May Be Winning Over Advisors Who Were Fence-Sitters: Survey
Advisor apathy toward annuities may be fading, but advisor hostility toward the products still looks strong, according to results of a new survey organized by RetireOne and Midland National. The percentage of advisors who said they were either likely or very likely to recommend annuities has increased to 64% this year, from 52% in 2021.

Life Application Activity Returns to Pre-COVID Normal
U.S. life insurance applications from consumers fell by 7.7% year over year in July, according to MIB Group’s activity report released this week. Activity was down by 13% from July 2020, when a coronavirus-related spike occurred, and was flat compared with the previous year. This suggests that policy purchases have returned to something like normal. A similar pattern was evident for the year to date: Applications declined by 6.3% from a year earlier and were flat for the previous two years.

Lincoln Touts "Robust" Life Insurance Sales Amid Ongoing Restructuring
It has been a rough go for Lincoln Financial for several quarters as the company shifts away from capital-intensive products to more shared-risk ones. But the Radnor, Pa.-based insurer might be turning a corner. During a second-quarter earnings call with analysts today, Lincoln executives spoke of life insurance sales up 53% from the prior-year quarter, and growth of 16% in indexed variable annuities and 40% in fixed annuities.

AIG Delays IPO for Life and Retirement Division
American International Group will attempt a delayed initial public offering next month for its Life and Retirement division. Executives announced the new timeline today during a second-quarter call with analysts. The Life and Retirement segment was rebranded as Corebridge Financial earlier this year and was to go public during the second quarter.

Truist Insurance Holdings enhances client offerings with acquisition of BenefitMall
Truist Insurance Holdings, Inc., a subsidiary of Truist Financial Corporation (NYSE: TFC) and the sixth-largest insurance brokerage in the U.S., announced today that it has signed a definitive agreement to acquire BenefitMall, the nation's largest benefits wholesale general agency, from funds managed by global investment firm Carlyle (NASDAQ: CG). The transaction will add approximately $150 million of annual revenue to Truist Insurance Holdings' wholesale division. Financial terms were not disclosed. The transaction is expected to close in the third quarter of 2022, subject to satisfaction of customary closing conditions.

MDRT Members and Liter of Light Unite to Empower and Illuminate Communities Around the World 
The World Health Organization estimates that 1 in 10 people around the world lack access to electricity and live in darkness once the sun sets. Liter of Light is committed to changing that statistic by teaching marginalized communities how to use recycled plastic bottles and locally sourced materials to illuminate their homes, businesses, and streets. Since 2013, the grassroots movement has provided more than one million hand-built solar lights in more than 30 countries. To further the mission of equipping communities around the globe with safe, sustainable solar-light, the MDRT Foundation – the charitable arm of the Premier Association of Financial Professionals® – is partnering with Liter of Light to empower and illuminate those with limited access to electricity.

American Business Joins Integrity to Innovate Insurance Offerings for High-Net-Worth Clientele
Integrity Marketing Group, LLC (“Integrity”), a leading distributor of life and health insurance, and provider of wealth management and retirement planning solutions, today announced it has acquired American Business, one of the nation’s leading providers of life insurance products to high-net-worth clients. As part of the acquisition, Alan Grad, Chairman and CEO of American Business, and Bruce Mesner, President of American Business, will become Managing Partners in Integrity. Financial details of the transaction were not disclosed.

JULY 2022

Bryan W. Adams Named a “Best CEO for Diversity” in Comparably’s Top 100 Awards
Integrity Marketing Group, LLC (“Integrity”), a leading distributor of life and health insurance, and provider of wealth management and retirement planning solutions, today announced Co-Founder and CEO Bryan W. Adams has won a 2022 “Best CEO for Diversity” award from Comparably, a well-respected organization that recognizes top-ranked CEOs and companies. Integrity joins the ranks of other noteworthy award winners in the large employer category, which has included Adobe, Microsoft, ADP, IBM, Uber and Hubspot, among others.

Life and Disability Income Insurance Products from MassMutual Now Available on iPipeline®'s End-to-End Digital Platform
Massachusetts Mutual Life Insurance Company (MassMutual) today announced another way to access its life and disability income (DI) insurance products. Effective immediately, products are now available through iPipeline® on iGO®, iPipeline's intelligent digital application platform built specifically for insurance and financial services.

Patrick Bet-David and PHP Agency Join Integrity to Accelerate Growth and Serve More People
Integrity Marketing Group, LLC (“Integrity”), a leading distributor of life and health insurance, and provider of wealth management and retirement planning solutions, today announced it has entered into an agreement to acquire PHP Agency, an industry leading field marketing organization (“FMO”) based in Addison, Texas. As part of the acquisition, Patrick Bet-David, Founder and CEO of PHP Agency, will become a Managing Partner in Integrity. 

Verisk Collaborates With Magnifact to Help Integrate Groundbreaking Data Analytics Solution for Life Insurance Distribution
Magnifact® is joining its award-winning insurance analytics capabilities with Verisk’s top-ranked FAST technology platform to help carriers and their distributors gain a broader scope of real-time, data-driven insights and automation.

Business on the Go with The Crump Mobile App
Crump Life Insurance Services has introduced a modern and easy-to-use new mobile app that gives financial professionals the tools to do business when, where, and how they choose, including quoting, real-time case status, and the ability to upload files for new and existing cases.

JUNE 2022

Integrity Announces Appointment of Respected Insurance Industry Leader Tom Dempsey as Chief Distribution Officer
Integrity Marketing Group, LLC (“Integrity”), a leading distributor of life and health insurance, and provider of wealth management and retirement planning solutions, today announced Tom Dempsey will join its executive team as Chief Distribution Officer. Dempsey has more than 20 years of leadership experience in the insurance industry and most recently served as Head of Transamerica Financial Network and President and CEO of World Financial Group, a Transamerica Company.

Lisa Ling Will Speak at Virtual Summer Symposium (Sponsored by Legal & General America)
The National Association of Independent Life Brokerage Agencies (NAILBA) announced that their 2022 Summer Symposium will include a special discussion with renowned journalist and author, Lisa Ling, sponsored by Legal & General America. At the virtual event, which will take place on August 2 and 3, Ling will discuss breaking misconceptions and building client trust.

NAILBA's Summer 2022 ID Trends is Live
We at NAILBA recognize your busy schedule and the need to stay focused on your business and the support of your clients. Our mission is to support you and the industry with targeted information through membership benefits and industry publications like Perspectives magazine and our digital newsletters – NAILBA Now and The Independent. To further our mission, we have launched an annual resource that exams the independent distribution (ID) trends in the insurance and financial services markets – ID Trends. We have compiled the research and articles within ID Trends to provide insights, education, and fodder for your business on such topics as life insurance, long-term care, disability insurance, annuities, as well as back office support and commission reporting.

Velocity Life Insurance Agency Accelerates Growth Through Integrity Partnership
Integrity’s robust, end-to-end systems will empower Virginia-based Velocity to provide a wider range of technology, products and resources to its fast-growing network of agents.

Royal Neighbors of America Recognizes Top 10 Chapters
Royal Neighbors of America, a fraternal benefit society located in Rock Island, Ill. has recognized its top 10 community chapters in the country. Royal Neighbors chapters are made up of Members who have a desire to impact their community through volunteerism. This designation is based on the number of volunteer hours generated by a chapter in one year.

Integrity Expands Annuity and Life Insurance Distribution by Partnering with Annuity Agents Alliance
Integrity Marketing Group, LLC ("Integrity"), a leading distributor of life and health insurance, and provider of wealth management and retirement planning solutions, today announced it has entered into an agreement to acquire Annuity Agents Alliance, an insurance marketing organization based in Denver, Colorado. As part of the acquisition, Anthony Owen, President of Annuity Agents Alliance, will become a Managing Partner in Integrity.

Royal Neighbors of America Awards $175,000 in Scholarships 
Royal Neighbors of America, one of the largest, women-led providers of life insurance and annuities, has awarded $175,000 in scholarships to more than 60 Beneficial Members to assist with the costs of continuing education. The scholarships are awarded annually to help students seeking a degree at an accredited college, university, trade or vocational school.

Integrity Expands Life Insurance Distribution by Partnering with Abernathy Financial Services
Florida-based IMO with winning pedigree further bolsters Integrity’s mission to innovate life, health and wealth solutions that help Americans make the most of what life brings

Increase on GBU's Preferred Series Rates
The rising-rate environment we’ve experienced over the past several months is a market condition that hasn’t occurred for decades. To provide the most valuable product to your clients, GBU is changing the structure of our rates such that the first-year rate will now be higher than the in-surrender rate (years 2 through 5 or 2 through 8).

Price Decrease on Asset-Based Long-Term Care Product Portfolio
OneAmerica®, a national provider of insurance and financial services, has announced a reprice within its Care Solutions product portfolio asset-based long-term care products. On May 26, the companies of OneAmerica decreased its premiums for the Care Solutions portfolio of products nationwide.

Finseca Brings 626 Advisors to Schmooze Washington
Finseca celebrated its new, bigger size by saying hello to the District of Columbia. The Washington-based advisor group gathered 626 advisor members in the nation’s capital this week for an advocacy summit that featured people such as Dean Cameron, the Idaho insurance director and president of the National Association of Insurance Commissioners, as the speakers.

Hubert Humphrey and HGI Partner with Integrity to Innovate Insurance and Serve More Americans
Integrity Marketing Group, LLC ("Integrity"), a leading distributor of life and health insurance, and provider of wealth management and retirement planning solutions, today announced it has entered into an agreement to acquire HGI, one of the nation's most prominent life insurance brokerages. As part of the acquisition, industry icon Hubert Humphrey, Founder and CEO of HGI, will become a Managing Partner in Integrity.

NAILBA Names Brian Kennedy Sr. Director of Professional Development, will Spearhead Case Manager Credential
The National Association of Independent Life Brokerage Agencies (NAILBA) today announced that Brian Kennedy has joined the association staff as Sr. Director of Professional Development. In his new role, he will manage all NAILBA Professional Development and member resources with special focus on the NAILBA Certified Case Manager (NCCM) program. NCCM has enhanced the careers of over 300 life insurance case managers since its introduction in late 2020.

MAY 2022

NAILBA and Finseca Announce Merger to Create: NAILBA, a Finseca Community
Per the overwhelming support of the NAILBA members, Finseca and NAILBA have officially voted to merge and create: NAILBA, a Finseca Community. On January 4, 2022, Finseca and NAILBA announced an intent to explore a merger after significant due diligence conducted by a joint task force that included NAILBA and Finseca members, staff, and leadership.

MIB Expands Digital Solutions Portfolio through Acquisition of APEXA from RGA
MIB, the life insurance industry's most trusted and secure partner for data-driven risk management and digital services, announced that it has reached an agreement with a subsidiary of Reinsurance Group of America, Incorporated (RGA) to acquire APEXA, Canada's leading contracting and compliance service provider for life insurance advisors, MGAs, and carriers. The acquisition expands MIB's portfolio of digital solutions and client base in Canada. READ MORE

OneAmerica Commits $1 Million Toward Financial Literacy
OneAmerica announced a $1 million commitment to activate a uniquely tailored financial literacy program in Central Indiana. In collaboration with The American College of Financial Services, the program will offer practical financial understanding to build a personal relationship with finance and drive economic empowerment, with a focus on narrowing the racial wealth gap. READ MORE

NAILBA announced that it has been recognized by ASAE with a 2022 Gold Circle Award in the Integrated Media Solutions category. The Gold Circle Awards competition is the premier association marketing, membership, and communications award that recognizes excellence, innovation, and achievement in association/nonprofit marketing, membership, and communications programs. READ MORE

Transamerica announced the launch of the Transamerica Structured Index Advantage Annuity, a registered index-linked annuity that is designed to create more certainty for investors in uncertain markets.  READ MORE

Senior Market Sales (SMS), a leading insurance marketing organization serving more than 70,000 independent health and wealth agents across the country, has developed and released Client Stream® Lead Exchange, a revolutionary lead acquisition platform. READ MORE

Integrity Marketing Group, LLC, announced it has entered into an agreement to acquire Ash Brokerage, a leading financial advisory and general agency brokerage. As part of the acquisition, Tim Ash, CEO of Ash Brokerage, will become a Managing Partner in Integrity. READ MORE

Transamerica Transforms Annuity and Life Insurance Solutions with Addition of Liza Tyler and Andrew DeMarco
Transamerica announces that Liza Tyler has been appointed Head of Annuity Solutions and Andrew DeMarco as Head of Life Solutions for the company’s Individual Solutions division. READ MORE

Equitable Reinforces Commitment to America’s Teachers During Teacher Appreciation Week
Equitable, a leading financial services organization and principal franchise of Equitable Holdings, Inc., announced its 3-year partnership with The Council of Chief State School Officers’ (CCSSO) National Teacher of the Year Program. READ MORE

Bestow, the leading life insurance technology company, today announces the launch of new embedded insurance technologies that empower businesses of all sizes to join them in increasing financial security through life insurance. READ MORE

Northwestern Mutual announced the appointment of Jeff Sippel to executive vice president and chief information officer. In his role, Sippel will head the technology organization responsible for advancing the company’s technology architecture, infrastructure and cloud services, reliability, service support, and information risk/cybersecurity. READ MORE

APRIL 2022

New York Life announced that Craig DeSanto has assumed the company’s chief executive officer (CEO) position. Mr. DeSanto was named CEO-elect in November 2021 after serving as a member of New York Life’s Board of Directors since February 2021 and as New York Life’s president, a title he will retain, since July 2020. READ MORE

Effective May 2, 2022, Pacific Life’s Pacific PremierCare suite of products will no longer be available for new sales. This includes Pacific PremierCare Choice one-year, five-year, 10-year, and lifetime premium whole life insurance products with long-term care (LTC) benefits and Pacific PremierCare Advantage Universal Life Insurance with Long-Term Care Benefits in California. READ MORE

Symetra announced the introduction of a new version of its Accumulator indexed universal life insurance (IUL) product — Symetra Accumulator Ascent IUL. The flexible-premium adjustable life insurance policy with index-linked interest options provides death benefit protection plus policy cash value growth potential that can help with future income needs. READ MORE

U.S. individual life insurance application activity was soft in March when compared with March 2021, according to the new MIB life application activity report. The overall level of activity was 7.7% lower last month than in the year-earlier month, MIB says. READ MORE

Agent Support Group (ASG), one of the fastest-growing life insurance brokerages in the U.S. and an affiliate of AmeriLife Group, LLC, announced that Vice President of Sales Mark Milbrod, CLU, CLTC, has been elected to the board of directors for Forum 400, an exclusive industry community for elite life insurance and financial security leaders and professionals. READ MORE

American International Group, Inc. (AIG) announced that Sabra Purtill, has been appointed Executive Vice President and Chief Investment Officer for its Life & Retirement business (to be rebranded as Corebridge Financial, Inc. following its Initial Public Offering), effective immediately. In her new role, Ms. Purtill will report to Kevin Hogan, Executive Vice President, Chief Executive Officer, Life & Retirement, and she has joined the Life & Retirement Executive Leadership Team. READ MORE

Pacific Life announced Vibhu Sharma as its next chief financial officer (CFO), effective April 11. Mr. Sharma succeeds Darryl Button as CFO, following Mr. Button’s appointment as Pacific Life’s president and chief executive officer (CEO). READ MORE

Symetra announced the introduction of a new version of its Accumulator indexed universal life insurance (IUL) product — Symetra Accumulator Ascent IUL. The flexible-premium adjustable life insurance policy with index-linked interest options provides death benefit protection plus policy cash value growth potential that can help with future income needs. READ MORE

Integrity Marketing Group, LLC ("Integrity"), a leading distributor of life and health insurance, and provider of wealth management and retirement planning solutions, today announced it has acquired Applied General Agency ("AGA"), an acclaimed independent marketing organization ("IMO") based in Anaheim, California.  READ MORE

U.S. life insurance application activity declined in March with Year-over-Year (YOY) activity down -7.7%, when compared to record-breaking activity in March of 2021, and finishing Q1 2022 at -5.6% year to date, according to the MIB Life Index.  READ MORE

Royal Neighbors of America, a fraternal benefit society located in Rock Island, Ill., reports they delivered $20.5 million in social impact in 2021. A Membership organization that offers life insurance and annuity products, Royal Neighbors is driven by its mission of supporting women and serving communities, making social impact the cornerstone of their work. READ MORE

Recognizing an increased need for greater flexibility and adaptable options for clients, The Standard announces an expansion of its annuity offerings with the new Enhanced Choice Index (ECI). ECI is a single-premium deferred index annuity that offers features to optimize growth capabilities, including four distinct index interest crediting strategies. READ MORE

Prudential Financial, Inc. announced the completion of the sale of its full-service retirement business to Empower, the second-largest retirement provider in the U.S. READ MORE

The Bank Insurance & Securities Association (BISA) announces the appointment of six new members to serve on the association’s Board of Directors in addition to the full slate of officers and directors for 2022. READ MORE

Mark Williams says anyone involved in helping clients with annuities right now had better be paying close attention to Washington. Williams is CEO of Brokers International — a 67-year-old Urbandale, Iowa-based annuity and life field marketing organization that is now part of Integrity Marketing. READ MORE

A new online resource center focused on linked benefit long-term care insurance has been launched by the American Association for Long-Term Care Insurance. READ MORE

MARCH 2022

AmeriLife Group, LLC (“AmeriLife”), a national leader in developing, marketing, and distributing life and health insurance, annuities and retirement planning solutions, today announced two key leadership changes to its Distribution and Marketing organizations aimed at accelerating and fortifying its business against the backdrop of record-breaking organic and acquired growth over the last two years. READ MORE

American International Group, Inc. (AIG) today announced that it plans to rebrand SAFG Retirement Services, Inc., the parent company of its Life & Retirement business, as Corebridge Financial, Inc. when it becomes a public company. READ MORE

The Guardian Life Insurance Company of America (Guardian) unveiled the Guardian Secure Index Annuity, with an optional guaranteed living benefit rider – the Guardian Income Magnifier Rider, which is issued by its wholly owned subsidiary, The Guardian Insurance & Annuity Company, Inc. (GIAC). READ MORE

SE2, an Eldridge business and leading life and annuity insurance technology and services company, today announced the strategic acquisition of Breathe Life, a new business hybrid distribution and digital engagement platform provider for the life insurance industry. The transaction expands SE2’s end-to-end SaaS solutions to help carriers offer a digital buying experience that exceeds customers’ expectations and reduces operational costs.  READ MORE

The nation’s long-term care insurers paid out $12.3 billion in claims during 2021, a significant increase over prior years according to the American Association for Long-Term Care Insurance (AALTCI). According to the association’s annual report of claims paid, the $12.3 billion paid represents an increase of $2 billion over the total claim benefits paid by the industry in 2018. READ MORE

Pacific Life has been named one of the 2022 World’s Most Ethical Companies by the Ethisphere Institute, a global leader in defining and advancing the standards of ethical business practices. Pacific Life was evaluated on five categories, including its ethics and compliance program; culture of ethics; environmental and societal impact; corporate governance; and leadership and reputation. READ MORE

Total 2021 deferred annuity sales of $243.6 billion represented a major bounceback year for the industry and a 16.5% increase over 2020 sales, according to new Wink’s Sales & Market Report data. Total 2020 deferred annuity sales fell to $209.1 billion amid the COVID-19 pandemic, and total fourth-quarter sales for all deferred annuities were $60.9 billion -- an increase of 1.7% compared to the previous quarter and 8.1% compared to the same period last year. READ MORE

Nicole Buckenmeyer is the new president of the Life Insurance Direct Marketing Association (LIDMA). LIDMA represents companies and individuals that sell life insurance through direct mail programs, call centers, websites and other direct marketing channels. Buckenmeyer has succeeded Bob Bland, president of Lifequotes, as president of the Atlanta-based group. READ MORE

Integrity Marketing Group, LLC, a leading distributor of life and health insurance, and provider of wealth management and retirement planning solutions, today announced it has acquired Western Marketing, a leading independent marketing organization (“IMO”) based in Missouri Valley, Iowa. As part of the acquisition, Mark Finken, President of Western Marketing, will become a Managing Partner in Integrity. Financial terms of the transaction were not disclosed. READ MORE

AmeriLife Group, LLC, a national leader in developing, marketing, and distributing life and health insurance, annuities and retirement planning solutions, announced that it has partnered with Bachmeier, Gudis and Associates (d/b/a BGA Insurance Group), a highly rated, national IMO that distributes a deep, competitive portfolio of Medicare, life and retirement planning solutions. READ MORE

Investors wary of increased market volatility and growing inflation drove total U.S. annuity sales to the highest levels since 2008, and the third-highest recorded in history, according to results from the Secure Retirement Institute (SRI) U.S. Individual Annuity Sales Survey. READ MORE

U.S. life insurance application activity declined in February 2022 compared to February 2021, with year-over-year (YOY) activity down -3.8%, representing the third consecutive month with YOY declines, the MIB Life Index reported. READ MORE

Francois Duguay is taking over from Byron Allen as the chair of the LOMA Life Insurers Council (LIC) advisory board for 2022. Duguay is the chief actuary at Optimum Re Insurance Co., a Dallas-based arm of the Optimum Group of Montreal. The reinsurer is best known for its life insurance and critical illness insurance operations. READ MORE

Finseca and Forum 400 have officially merged and created Forum 400, a Finseca Community. On July 15, 2021, Finseca and Forum 400 announced an intent to explore a merger, and today, after an extensive due diligence process conducted by a task force of the Forum 400 current and past presidents in collaboration with Finseca’s leadership, as well as an overwhelmingly supportive membership vote, Finseca and Forum 400 are pleased to merge. READ MORE

Nationwide launched a new variable universal life (VUL) insurance product built specifically for fee-based investment advisors that allows for management of funds within the product without a life license. Nationwide Advisory Variable Universal Life is a permanent life insurance policy with a customizable guarantee that keeps the cost of the protection separate from the rest of the investment. READ MORE

The all-new NAILBA Career Center site offers self-service tools both for companies that want to post information about openings and for job hunters who want to post resumes. READ MORE

Transamerica has appointed Jonathan Cressman as Vice President and Managing Director for Annuities Wholesale Distribution in the company's Individual Solutions division, which provides insurance and investment solutions to customers throughout the U.S. READ MORE 

Dennis Martin, who serves as President of OneAmerica Individual Life and Financial Services (ILFS), shares his industry outlook for 2022.  READ MORE

FEBRUARY 2022

The NAILBA Charitable Foundation recently elected five new Board Members who will help carry out the Foundation's mission to continue to provide funds to worthy charitable organizations and individuals in NAILBA communities. READ MORE

Securian Financial announced 2021 results at its recent annual employee meeting. Revenue and overall sales grew, and the company fulfilled its purpose of being there for people who count on it—including providing nearly $850 million in COVID-19 related death benefits. READ MORE

Massachusetts Mutual Life Insurance Company reported excellent financial results for 2021 – including record sales and capital levels that reached an all-time high and strong operating earnings – while making significant progress on its long-term strategy and providing financial security for more Americans. READ MORE

For life insurers, making acquisitions for the sake of getting bigger is often a bad idea, according to consultants at McKinsey & Co. The consultants — who would like to help life insurers buy and sell businesses — talk about how life insurers should make deals now in a new global insurance report. READ MORE

The National Association of Insurance and Financial Advisors (NAIFA) announced the availability of a new virtual program from its Business Performance Center called RISE. The RISE program was developed to aid firm and agency managers with tools and techniques to build high-performing cultures that both attract and retain top financial advisor talent. READ MORE

American International Group continues to move toward selling a large stake in its Life and Retirement business to investors by the end of the second quarter. READ MORE

What is better for retirement and estate planning: life insurance or annuities? In a recent webinar by The American College of Financial Services, Ed Slott, CPA and head of Ed Slott & Co., and Wade Pfau, professor of retirement income at the college answered this question and more. READ MORE

iPipeline announced that it has been recognized by Energage as one of the Top Workplaces in the country for 2022. The firm was selected according to the responses of its employees to questions in the Energage Workplace Survey focusing on company culture. READ MORE

AmeriLife Group, a national leader in developing, marketing, and distributing annuity, life and health insurance solutions, today announced that its agencies and affiliates are now offering SimpliNow Legacy from AIG (issued by American General Life Insurance Company), a simplified issue whole life insurance product specifically designed for middle-market American seniors. READ MORE

LIBRA Insurance Partners, one of the nation’s largest insurance marketing organizations, announced Jonathan Jacobs as new Senior Vice President of Business Development. Jacobs will lead a team of relationship directors and interface with the distribution leaders at the company’s portfolio of carriers. He will also be responsible for identifying business development opportunities with life insurance BGAs throughout the U.S. and marshaling resources to be delivered to them. READ MORE

Annuities, especially variable and indexed products, will boom in what was called the best insurance environment in 20 years during Conning’s 2022 Outlook webinar. Strong consumer demand for new products is propelling the growth. In the life sector, the SECURE Act opened the door for enormous opportunity in retirement accounts. READ MORE

Integrity Marketing Group, LLC has acquired Senior Advisory Insurance Services, an independent marketing organization based in Upstate New York. As part of the acquisition, John Kulakowski, CEO of Senior Advisory Insurance Services, will become a Managing Partner in Integrity. Financial terms of the transaction were not disclosed. READ MORE

The Guardian Life Insurance Company of America (Guardian), one of the nation's largest life insurers and a leading provider of employee benefits, today announced it has acquired a minority equity stake in HPS Investment Partners (HPS). HPS is a leading global investment firm that currently manages approximately $80 billion in assets. READ MORE

Verisk announced that Pacific Life’s level-premium term life insurance product, Pacific Elite Term, is in production with Verisk’s FAST platform for new business, policy administration and claims. The launch marks another important milestone in Pacific Life’s digital transformation, which is focused on continuing growth with digital capabilities that power distinctive customer experiences, operational excellence and data-driven decisions across Pacific Life. READ MORE

Policygenius announced the release of The 2022 Policygenius Life Insurance Trend Report. This report focuses on major shifts in the life insurance industry, including significant growth in demand for no-medical-exam life insurance policies and strong insurance purchasing from people age 18-44. Overall, despite market volatility brought on by COVID-19 and a significant uptick in death claims, life insurance pricing remains stable. READ MORE 

The National Council of Insurance Legislators (NCOIL) joins the Insurance Careers Movement (ICM) in focusing on February as Annual Insurance Careers Month. Overall, the ICM includes more than 1,000 insurance carriers, agents/brokerage firms, trade associations and industry partners working to engage the next generation for careers in insurance.  READ MORE

Lincoln Financial Group today reported net income for the fourth quarter of 2021 of $220 million, or $1.20 per diluted share available to common stockholders, compared to net income in the fourth quarter of 2020 of $143 million, or $0.74 per diluted share available to common stockholders. READ MORE

Principal Financial Group announced that it has picked an affiliate of Talcott Resolution Life to help it shed the risk associated with its retail fixed annuity business and part of its life insurance business. The Des Moines, Iowa-based life insurer has named the Talcott arm, Sutton Cayman, to reinsure a retail fixed annuity block backed by $16 billion in reserves and a block of universal life policies with secondary guarantees backed by $9 billion in reserves. READ MORE

More than three-quarters (77%) of brokerage general agencies (BGAs) and independent marketing organizations (IMOs) surveyed say their top priority is to expand their network of producers. The study, conducted by LIMRA and NAILBA, reveals the pandemic altered what some firms are looking for in an ideal agent or advisor, with nearly 1 in 5 firms saying they are looking for a different profile of producer. READ MORE

JANUARY 2022 

Insurance Technologies, LLC (“InsTech”), a provider of sales and regulatory automation solutions for the insurance and financial services industries, announced the appointment of Laird Rixford as the company’s new Chief Executive Officer. Rixford will lead InsTech through continued transformation and strategic expansion. READ MORE

Rona Guymon has been selected to lead annuity distribution for Nationwide. In this role, Guymon is responsible for distributing commission- and fee-based annuities across all channels, including broker/dealers, wires, banks, IMOs, registered investment advisors, technology platforms and other partners. READ MORE

Integrity Marketing Group, LLC announced it has acquired Lion Street, an elite national network of agencies and professionals providing life insurance, wealth management and financial planning solutions to high-net-worth clients. READ MORE

SBLI (The Savings Bank Mutual Life Insurance Company of Massachusetts) announced that its charitable foundation has made a $25,000 donation to the American Red Cross to support its ongoing relief efforts for those affected by the deadly tornadoes that devastated residents of five states in the southern and central U.S. last month. READ MORE

Accenture received two XCelent awards for its life insurance and annuity platform from research and advisory firm Celent. The Celent report recognizes the Accenture Life Insurance & Annuity Platform (ALIP) as one of the highest-rated solutions in both the “Advanced Technology” and “Breadth of Functionality” categories. Additionally, ALIP’s high scores placed it in the “Luminary” category, Celent’s top rank within its new Technical Capability Matrix. READ MORE

AIG Life & Retirement announced the launch of Advanced Outcomes AnnuitySM. As a variable annuity featuring structured outcome investments, the Advanced Outcomes Annuity targets higher growth than many traditional structured annuities while also seeking a level of downside protection, through the unique investment strategies that have been developed with Milliman Financial Risk Management LLC. READ MORE

Lion Street announced that it had completed a study on the U.S. PPLI market and published its findings. The report was created in association with Life Insurance Strategies Group and includes comprehensive findings on a number of areas, including PPLI carrier parameters and statistics, policy structure, and the impact of IRC § 7702A changes. READ MORE AND ACCESS FULL REPORT

U.S. life insurance application activity finished 2021 with annual year-over-year (YOY) growth up +3.4%, according to the US MIB Life Index, representing the second consecutive year of growth. Following record-breaking YOY growth in 2020 of +3.9%, 2021 achieved the second-highest YOY annual growth rate on record. READ MORE

Integrity Marketing Group, LLC announced it has acquired AIP Marketing Alliance ("AIP"), a leading independent marketing organization based in Troy, Michigan. As part of the acquisition, Rick Kisser, CEO of AIP, and Kym Kisser, CFO of AIP, will become Managing Partners in Integrity.  READ MORE

The U.S. life insurance industry is on track to post its fastest premium growth in nearly 20 years, according to an S&P Global Market Intelligence Report released early last month. The report said strong consumer demand during the pandemic and a tailwind from a 12% overall expansion in premium sales in the third quarter of 2021 has readied the industry for a record-breaking 2021. READ MORE

The National Association of Insurance and Financial Advisors (NAIFA) has recognized more than 1,000 recipients of the 2021 NAIFA Quality Awards (NQA). The NQA recognizes insurance and financial advisors who excel at serving clients in Life & Annuities, Financial Advising & Investments, Health & Employee Benefits, Multiline Sales, or any combination of these specialties. READ MORE

Ameritas has introduced enhancements to its whole life insurance products, creating additional options to help meet client needs while maintaining current product competitiveness. READ MORE

Western & Southern Financial Group has completed the acquisition of Fabric Technologies Inc. and its subsidiary, Fabric Insurance Agency LLC, which provide a fully digital life insurance platform and mobile app that is serving over 60,000 families and has placed billions of dollars in life insurance coverage. READ MORE

Transamerica announced that Wendy Boyd has been appointed Head of Life Distribution for the company's Individual Solutions division, which provides individual insurance and investment solutions to customers throughout the U.S. READ MORE

Allianz Life announced that it has completed the reinsurance agreement with affiliates of Sixth Street, including Talcott Resolution Life Insurance Company, and Resolution Life, for a $35-billion fixed index annuity portfolio. The transaction unlocks $4.1 billion in value and frees up regulatory capital for Allianz. READ MORE

Highland Capital Brokerage, a national life insurance and annuity distribution company and subsidiary of Advisor Group, today announced the acquisitions of Hallett Financial Group, an independent insurance brokerage agency based in Minneapolis, as well as Hallett Financial's sister company, Quotacy, an insurtech firm. READ MORE

Senior Market Sales (SMS) has acquired Medigap Life, a highly successful call center serving thousands of customers in all 50 states with affordable Medicare health insurance plans. READ MORE

The National Association of Independent Life Brokerage Agencies (NAILBA) announced John Gilbert, President at The National Benefit Corp. in West Des Moines, IA, as its 2022 Chair. READ MORE

Specialty Program Group, LLC (SPG), a leading operator of specialty insurance brokerage firms and underwriting facilities, announced today the acquisition of the assets of Brokers' Service Marketing Group II, LLC (BSMG) as of December 15, 2021. READ MORE

Dennis Martin, president of individual life and financial services at OneAmerica, shares his most-watched market indication--as well as how regulatory changes are accelerating the impact of the pandemic on advisors and financial professionals. READ MORE

Allianz Life announced that it has completed the reinsurance agreement with affiliates of Sixth Street, including Talcott Resolution Life Insurance Company, and Resolution Life, for a $35-billion fixed index annuity portfolio. READ MORE

NAILBA and Finseca announced that their respective Board of Directors have voted to initiate a process to explore a merger. This process is the culmination of significant due diligence conducted by a joint task force that included NAILBA and Finseca members and staff.  READ MORE

Senior Market Sales (SMS), one of the industry’s premier insurance marketing organizations, has acquired Transitions Benefit Group as a strategic partner in the employer group insurance space. SMS President Jim Summers said that Transitions Benefit Group has built a successful niche in the employer group space and that it will be a natural fit with SMS’ parent, Alliant Insurance Services, one of the nation’s largest insurance and employee benefits brokers. READ MORE

Pennsylvania has given a big boost to efforts by the National Association of Insurance Commissioners to support the SEC’s Regulation Best Interest financial services sales standards. Gov. Tom Wolf recently signed Senate Bill 772 — legislation implementing the NAIC’s annuity suitability model update in the Keystone State. READ MORE

Chubb announced that Bryce Johns will be appointed Senior Vice President, Chubb Group and President of Chubb Life. He will join the company from HSBC, where he served most recently as Global CEO of HSBC Life and Insurance Partnerships. In his new role, which becomes effective in April, Mr. Johns will have executive responsibility for Chubb's international life insurance business. READ MORE

Ohio National's new Prestige Series is focused on delivering lower-cost, permanent protection to individuals and businesses. The Prestige Series offers a high death benefit for the amount of premium paid, while providing cash value accumulation opportunities. Cash values can be accessed during the insured’s lifetime for almost any purpose, generally on a tax-preferred basis. READ MORE

The nation’s long-term care insurers paid out $12.3 billion in claims during 2021. That represents a significant increase over prior years according to the American Association for Long-Term Care Insurance. READ MORE