LONDON, Aug 9- The bulk annuity market in Britain was worth nearly 5 billion pounds in the first half and may top 10 billion this year for the third year in a row, consultant Hymans Robertson said on Wednesday. Companies such as Tata Steel UK have also found their huge pension liabilities have hampered merger plans. Scottish Widows, part of Lloyds Banking Group, and...
July 20- Life insurer Prudential Financial Inc said on Thursday it would reorganize its U.S. businesses, bringing the units down to three from five. The three businesses will be called individual solutions, workplace solutions and investment management. The individual solutions unit will include the annuities and individual life insurance businesses, and...
*Keith Skeoch says may sell 16.1 bln stg annuity book. LONDON, June 13- Standard Life would sell its 16.1 billion pound annuity portfolio but has no plans to exit the insurance business altogether after it merges with Aberdeen Asset Management, Chief Executive Keith Skeoch said. With the boss of Standard Life's insurance business set to lose his seat on the board...
NEW YORK, June 6- Jackson National, the largest U.S. provider of variable annuities, said in a filing on Tuesday it plans to remove Pimco's Total Return Bond investment strategy from Jackson National's product line-up and assign management of the $3.5 billion in that fund offering to Jeffrey Gundlach's DoubleLine Capital. The move would end Jackson National's...
May 24- CF Corp, a blank check company founded by veteran dealmaker Chinh Chu, said on Wednesday it would buy U.S. annuities and life insurer Fidelity& Guaranty Life in an all-cash deal valued at about $1.84 billion. The deal comes a little over a month after FGL terminated its agreement to be acquired by China's Anbang Insurance Group Co Ltd for $1.6 billion.
Many financial advisors agree you have to be careful with so-called annuity illustrations that seem too good to be true.
Retirees' search for safe income is leading to some new and risky products. Get ready to do your homework and ask questions.
The days of company pensions are long gone for most workers; that is why investing in an annuity can be an appealing strategy for retirees.
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.