Earnings

Understanding Swiss Annuities

While it might be an unusual time to provide an explanation of Swiss annuities given what has been taking place of late with the Swiss franc and related decisions made by the Swiss National Bank, it still makes sense for any financial services consumer to understand potential benefits of these products.

Switzerland - Courtesy of Travellingtamas

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Section 1035 Exchange

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Alico Powering MetLife's International Sales

MetLife announced second quarter results yesterday that included record revenue of $11.8 billion. Operating earnings totaled $1.3 billion—an increase of 45 percent from the second quarter of 2010. U.S. annuity sales increased 48 percent to $7.3 billion for the second quarter. The Alico acquisition appears to be a factor in international sales. Total reported international sales doubled year-over-year, and were up 25 percent when compared with combined results for the same reporting period...

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GAO Retirement Income Study Bullish on Annuities

At the request of Wisconsin Senator Herb Kohl, the Government Accountability Office (GAO) just released a study that provides an assessment of the current state of the retirement income market in the United States.

For those interested in retirement income, the study is full of interesting data and conclusions. ...

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Annuity Business Drives Earnings Momentum at MetLife and Prudential

Life insurance companies MetLife and Prudential Financial both reported quarterly earnings that exceeded analysts' estimates. MetLife reported record variable annuity sales and a sharp rise in its retirement product fees. Prudential also reported strength in its annuity business. While annuity sales were strong at both companies, higher hedging costs had an adverse impact on the reported earnings of MetLife and Prudential. Source: Reuters Full Story

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Allianz Reports Strong Revenue Growth Coupled with Earnings Challenges Due to Low Interest Rates

Allianz Life Insurance Company of North America reported strong revenue growth for the third quarter of 2010. Fixed indexed annuity sales increased 36 percent and totaled $1.9 billion. Variable annuity sales quadrupled to $800 million. Allianz attributes the revenue growth to more risk averse consumers in the wake of the financial crisis.

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