Nov 9- Anbang Insurance Group agreed to buy U.S. annuities and life insurer Fidelity& Guaranty Life for about $1.57 billion as Chinese insurers seek to expand into the United States. Financial holding company HRG Group Inc, Fidelity& Guaranty Life's majority stockholder, has approved the deal, which would make Anbang one of the largest insurers by market share in...» Read More
*EU insurers look to reinsure outside Europe. LONDON, Oct 8- Life insurers selling higher-risk products like annuities are moving to reinsure or hedge this business outside Europe to soften the impact of new capital rules which could add hundreds of millions of pounds to their costs. This is expected to benefit insurers in the United States and other countries...
Oct 1- Anbang Insurance Group Co is in the lead to acquire annuities and life insurance company Fidelity& Guaranty Life, according to people familiar with the matter, as more Chinese insurers seek to expand into the United States. Privately held Anbang has so far prevailed over other bidders, including private equity firms, in the auction for Fidelity& Guaranty...
LONDON, Aug 5- British insurer Legal& General posted a forecast-beating 18 percent rise in first-half operating profit on Wednesday, helped by strong performance in the bulk annuity corporate pensions market, sending its shares up over 3 percent. "We see strong demand for pension derisking and longevity insurance across the world," said Nigel Wilson, chief...
CHICAGO, June 25- How much money you will need to save to enjoy a secure retirement depends on the ultimate unknowable: How long will you live? The advantage of these QLAC plans is that they provide some guaranteed regular income until death, so they can supplement Social Security. For example, Principal Financial Group Inc, which introduced a QLAC for individual...
Hundreds of clients trusted one woman running an annuity investment business, but she was running a scam, reports CNBC's Andrea Day.
CNBC's Sharon Epperson talks about annuities and how it will help with your retirement saving.
With the median account balance under $19,000, 401(k) plans are failing as a safety net. Here's what happened.
For years, Americans found a lot to dislike about annuities, calling them complicated and expensive. Though some experts say not that much has changed about the insurance product, fundamental changes in the average American's financial outlook have given new life to annuities.
After suspending further contributions, Prudential Annuities will likely be paying out far less than policyholders had expected.
With more people worried about the finances of retirement, the concept of a guaranteed income stream for life is gaining in popularity.
The government wants to make it easier for workers to convert part of their 401(k) savings into an annuity that would pay guaranteed income checks for life — no matter the ups and downs in the markets.
Some people who are unprepared for retirement respond with a strategy known as “Hurry-Up Offense” retirement. This entails scrambling like mad at the 11th hour to find something to live on. It’s less than ideal, but sometimes a well-planned nest egg simply doesn’t exist.
Ameriprise Financial examined where consumers are most confident about retirement. Many expressed a nagging sense that they hadn’t saved enough money to keep them afloat. They’re right to worry, but they still have time for corrections.
Withdrawing money from a retirement account can carry a high price. Besides jeopardizing long-term savings, withdrawals can incur a 10 percent penalty. Still, if you’re in a financial pinch there are some options for cracking your nest egg that are better than others.
The big events of our lives often carry big price tags, and even though they're usually highly anticipated, it's difficult to be fully prepared — emotionally and financially. Here's some tips.Handling life changes takes prudence and planning along with perseverance.
After seeing old age or illness deplete their parents life savings, more baby boomer are signing up for long-term care coverage.
Outlining what investors should know about annuities if they are looking for guaranteed income for life, with Jim Schlager, Moss Adams Wealth Advisors.