Monday, May 18, 2009
MassMutual weighs future in VA marketplace
Firm has pulled back on variable annuities in recent months
Following the departure of a major annuities expert and the elimination of some variable annuity riders, Massachusetts Mutual Life Insurance Co. is mulling the future of its role in the VA marketplace.
“The challenge for the next few years, given the changing environment we're in today, is to figure out how the ideas fit in the context of products that agents and [representatives] want to use, and fit the needs of the consumer,” said Drew Dickey, a senior vice president and head of the retirement income business at the Springfield, Mass.-based carrier. “We're trying to assess [whether variable annuities will] be an evolutionary strand of product that dies off or mutates, and what the opportunities are, going forward, for different ideas that are more prudent for a highly rated company that needs to maintain prudent risk posture...”
MassMutual weighs future in VA marketplace
Following the departure of a major annuities expert and the elimination of some variable annuity riders, Massachusetts Mutual Life Insurance Co. is mulling the future of its role in the VA marketplace.
“The challenge for the next few years, given the changing environment we're in today, is to figure out how the ideas fit in the context of products that agents and [representatives] want to use, and fit the needs of the consumer,” said Drew Dickey, a senior vice president and head of the retirement income business at the Springfield, Mass.-based carrier. “We're trying to assess [whether variable annuities will] be an evolutionary strand of product that dies off or mutates, and what the opportunities are, going forward, for different ideas that are more prudent for a highly rated company that needs to maintain prudent risk posture...”
MassMutual weighs future in VA marketplace
Permalink posted by markw @ 5:28 AM 
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