Information About
PHILADELPHIA ANNUITY
Articles
A.M. Best Special Report: Life Insurers Hunker Down as Market Turmoil Continues
2008 was among the worst in memory for life insurers’ operating performance—the key drivers being substantial realized and unrealized losses on investment portfolios, higher costs of capital and a declining revenue base. These trends clearly are continuing and could deepen well into 2009 and beyond. A.M. Best Co.’s recently issued special report, “Life/Annuity Review & Preview 2009: U.S. Life Insurers Hunker Down As Market Turmoil Continues,” expresses the rating agency’s current perspective on the industry. On September 18, 2008, A.M. Best revised the outlook on the U.S. life/annuity segment to negative from stable, citing uncertainty in terms of the future
Read more...
Transamerica Launches Financial Recovery Action Plan for Retirement Plan Participants Hit by Economic Crisis
In challenging economic times, it's increasingly important for investors to assess their financial situation and take back control of their retirement savings strategy. Recognizing this growing need, Transamerica Retirement Services has launched a program to help retirement plan participants weather the financial storm, create a successful investment plan and regain confidence in their financial future. This new program, named "The RECOVER Plan by Transamerica," is designed to help participants understand the causes of the economic situation, the cycles of the financial markets, and how to evaluate and improve their prospects for retirement. Transamerica Launches Financial Recovery Action Plan for Retirement
Read more...
AnnuitySpecs.com Releases Fourth Quarter, 2008 Indexed Sales Results
Fifty-nine indexed annuity carriers participated in the 46th edition of the Advantage Index Sales & Market Report, representing 99% of indexed annuity production. Total fourth quarter sales were $7.2 billion, up 12.7% from the same period last year. As compared to the previous quarter, sales were up 6.7%. “People are looking for a way to protect their dollars, and indexed annuities are the ‘safe money place’ of choice,” said Sheryl J. Moore, President and CEO of AnnuitySpecs.com. “Rest assured when I tell you that 2009 sales of indexed annuities will be a record! Who better to serve the safe money
Read more...
New York Life's Chris Blunt Plans Expansion of VAs
When Chris Blunt was given the reins of The New York Life Insurance Company's new Retirement Income Security group in November, he took over a division that for the first time combined the firm's annuity, long-term care insurance and mutual fund distribution businesses... New York Life's plans include a possible foray into variable annuities, an expansion into the defined contribution market and the potential for mutual fund acquisitions in the future. The projected growth comes as many of its publicly held peers are contracting or faltering beneath the weight of the global economic crisis... Financial Planning: New York Life's Chris
Read more...
