Thursday, April 30, 2009
Variable annuity market needs help to grow, report says
Carriers should concentrate more on asset management as clients’ preferences shift
In order to keep the individual annuity market alive amid economic turmoil, insurance companies will need to readjust their product risk, distribution and cost structures for the product, according to a report from Conning Research & Consulting.
Although the 2001-2003 recession caused by the technology bust helped stir demand for annuity guarantees to protect clients’ principal, insurers are now paying the price. Carriers’ financial positions have been weakened and they face difficulty in paying for future growth, according to the research paper, “Rethinking Individual Annuities...”
Investment News: Variable annuity market needs help to grow, report says
In order to keep the individual annuity market alive amid economic turmoil, insurance companies will need to readjust their product risk, distribution and cost structures for the product, according to a report from Conning Research & Consulting.
Although the 2001-2003 recession caused by the technology bust helped stir demand for annuity guarantees to protect clients’ principal, insurers are now paying the price. Carriers’ financial positions have been weakened and they face difficulty in paying for future growth, according to the research paper, “Rethinking Individual Annuities...”
Investment News: Variable annuity market needs help to grow, report says
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