Insurance

A contract that involves the insured paying a premium to an insurance company in exchange for protection against the risk of a large loss.

Healthcare Reform Provides Insurance in Name Only

After a tough couple of years for former Federal Reserve Chairman Alan Greenspan and in an era when the phrase affordable health insurance seems like an oxymoron, it is time to provide some credit where credit is due.

Chairman Greenspan hit the nail on the head in his recent book The Age of Turbulence.

The following are Greenspan’s comments regarding entitlement spending and the healthcare system:

The bottom line in the success of all retirement systems is the availability of real resources at retirement…The financial arrangements associated with retirement facilitate the diversion of resources that make possible the consumption of goods and services after retirement, but
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Genworth is Exiting the Variable Annuity Market

Genworth Financial is discontinuing sales of its variable annuity products. The company plans to stop the sale of any new variable annuity products by the end of the first quarter of 2011. Genworth has had an active presence in the variable annuity market as a top 20 U.S. company with $2.3 billion in sales in 2008. Genworth's exit leaves the U.S. variable annuity market increasingly concentrated with 5 insurance companies controlling 55 percent of the market. Genworth's decisions comes at a...

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Annuities in Japan

The Japanese...

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Low Interest Rates Affecting Insurance Companies

The ultra-low interest rates that exist at the moment are affecting insurance company profitability and operations. On the profitability side, current policy premiums must be reinvested into bonds that have low yields and are fully priced. Investment income and underwriting profitability (which is often rare) are the main components of insurance company profitability. As large fixed income investors, insurance companies are challenged in the current interest rate environment. On the operations...

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Variable Annuity Sales Total $34 Billion During Third Quarter of 2010

Variable annuity sales in the United States increased 9.7 percent to total $34 billion during the third quarter of 2010. Variable annuity revenue figures continue to be concentrated among a handful of leading companies: Prudential Financial: $15.5 billion year to date. MetLife : $13.2 billion year to date. Jackson National Life: $10.47 billion year to date. TIAA-CREF : $10.42 billion year to date. Lincoln Financial : $6.6 billion. The total amount of variable annuity sales in the first 9 months...

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