After Downgrades, Which Annuities Are Safe?

If you have an annuity and are relying on it to provide for your retirement, then you may be feeling a little tense these days. Case in point: Standard & Poor's Ratings Services recently downgraded Hartford Financial Services Group's (HIG) credit rating. That's bad news for the number-one issuer of variable annuities offered through banks (as of 2007, according to the Insurance Information Institute): It means the company has to boost its cash reserves at
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State Farm Suspends Sales of Phoenix's Life Insurance, Annuities

State Farm Mutual Automobile Insurance Co. has told Phoenix Cos. that it will suspend sales of Phoenix's life insurance and variable annuity products because of downgrades by rating agencies to Phoenix's life insurance subsidiaries, spokespeople with both companies confirmed. Separately, Phoenix said it will delay filing its annual report on Form 10-K with the U.S. Securities and Exchange Commission because it needs more time to finalize its fourth-quarter and year-end 2008 net losses after correcting
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How Well Do You Know... Fixed Annuities?

Back before 2008's cruel lessons about the stock market, many individual investors saw little reason to bone up on boring subjects like fixed-income investments and annuities. And what was less attention-grabbing than the combination of those two topics, the fixed annuity? Nowadays, boring is better to many investors burned in stock mutual funds. Indeed, sales of fixed annuities soared 79% in the fourth quarter, according to consulting firm Limra International. In a recent quiz, we
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Pennsylvania's Top Two Youth Volunteers Selected in 14th Annual ... - PR-Inside.com (Pressemitteilung)

Pennsylvania's Top Two Youth Volunteers Selected in 14th Annual ... PR-Inside.com (Pressemitteilung), Austria - Feb 10, 2009 Prudential's businesses offer a variety of products and services, including life insurance, annuities , retirement-related services, mutual funds, ...
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While losses related to variable annuity products continue to take their toll on life insurance companies, they also were largely responsible for the poor fourth quarter performance by Philadelphia-based health insurer Cigna Corp., which has major
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Cigna will cut 1100 jobs and consolidate - Philadelphia Inquirer

Cigna will cut 1100 jobs and consolidate Philadelphia Inquirer, PA - 8 hours ago But what walloped Cigna were losses from two programs - its variable- annuity death-benefit program and its guaranteed-minimum death-benefit program. ...
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New York Life Insurance Company today announced that total sales of its income annuities have exceeded $1 billion for the first time, reaching more than $1.2 billion at year-end 2008. The
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Job cuts at Lincoln National division (BizJournals)

Financial services firm Lincoln National Corp. confirmed that it has laid off 12 percent of employees at Lincoln Financial Distributors, the company’s wholesale division that markets and sells variable and fixed annuities, life insurance and investment management products. (LNC)
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Pacific Life and The Hartford have joined the ranks of insurers who are raising prices and fees on some of their most popular investment products: variable annuities
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Led by New York Life Products, Fixed Annuity Sales Rise 54% in Third Quarter

Buttressed by favorable interest rates and sought by investors looking for shelter from falling equity prices, U.S. fixed annuity sales set a new quarterly record. Led by New York Life Products, Fixed Annuity Sales Rise 54% in Third Quarter Source: Financial-Planning
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Despite the continual upswing of fixed annuity products, a LIMRA International study of consumers between 50 and 75 years old with household incomes of at least 50,000 dollars in
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Lincoln Financial Group Comments on Standard & Poor's Ratings Action (PR Newswire via Yahoo! Finance)

Lincoln Financial Group today announced that Standard & Poor's affirmed its AA counterparty credit and financial strength ratings on The Lincoln National Life Insurance Company and Lincoln Life & Annuity Company of New York, and revised its outlook for the insurance subsidiaries from positive to stable.
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Pennsylvania Insurance Department Hits Allegheny County Insurance ... MarketWatch - 21 hours ago Lorena Mierau - Philadelphia - $8000 penalty and
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U.S. Life Insurers Face Increasing Risk from Variable Annuities

Fitch Ratings sees equity market performance 2008 as having a dramatic impact on U.S. life insurers active in the variable annuity market. Persistent adverse market conditions will pressure life insurer's earnings and risk-based capital levels for the balance of 2008 and into 2009. The industry ability to manage this growing risk exposure represents one of the most significant risk management challenges confronting U.S. life insurers. U.S. Life Insurers Face Increasing Risk from Variable Annuities Source:
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Aberdeen Asset Management Inc. Expands US Distribution Team - Earthtimes (press release)

Aberdeen Asset Management Inc. Expands US Distribution Team Earthtimes (press release), UK - Sep 8, 2008 He began his career at Merrill Lynch where he held roles as a financial advisor and district annuity specialist. Headquartered in metropolitan Philadelphia ...
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Bank sales of fixed annuities are soaring, as a result of a favorable interest rate environment, the stormy equity markets, and new product features, according to insurance and banking executives. Market's
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