Business Wire
Allianz Life Insurance Company of North America (Allianz Life) announced today that Jasmine Jirele has been named president and CEO of Allianz Life, succeeding President and CEO Walter White, who will retire December 31, 2021.
Jirele’s leadership experience spans strategy, product innovation, marketing, operations, and digital and experience management. She has served as Allianz Life’s chief growth officer since 2018, where she is responsible for defining the company’s growth strategy, including its expansion into new markets, and leading product innovation, marketing, communications, Allianz Ventures and enterprise agile.
“Jasmine brings a compelling combination of strategic vision, deep customer and industry insight, and digital transformation that will help continue to advance Allianz’s growth and its mission of helping its customers secure their future,” said Jackie Hunt, member of the Board of Management of Allianz SE, Asset Management, U.S. Life Ins
GlobeNewswire
NexPoint Securities, a registered broker-dealer that serves as the distributor for investment products on the NexPoint platform, announced today the appointment of Brian Graime as director of annuity and insurance marketing organization (IMO) distribution.
In his role, Mr. Graime will lead annuity product distribution and develop long-term distribution strategies for the firm’s planned expansion into the insurance market.
For its initial expansion into insurance, NexPoint Securities will be working with insurance solutions provider NexAnnuity through its life insurance company subsidiary to distribute fixed annuity products. This will give NexPoint access to the NexAnnuity network, which includes an insurer, insurance investment manager, and other related businesses, to support future growth.
MINNEAPOLIS – March 16, 2021 – Allianz Life Insurance Company of North America announced today that Jasmine Jirele has been named president and CEO of Allianz Life, succeeding President and CEO Walter White, who will retire December 31, 2021.
Investment Advice Rule Could Still End Up Back In Court
Not quite.
There could be plenty more changes in store before the investment advice rule is finally in place, said Brad Campbell, a partner at Faegre Drinker Biddle & Reath, during a Thursday webinar sponsored by the National Association for Fixed Annuities.
In fact, more lawsuits might still be argued before the industry has a settled rule, Campbell said.
The potential legal issue concerns the best interest standard included in the investment advice rule, he explained. In 2018, the Fifth Circuit Court of Appeals tossed out the fiduciary rule, a predecessor to the current rule, ruling that the DOL exceeded its authority by creating a new regulatory scheme for the retirement plan space.
Annuity Sales Down 9% In Pandemic-Plagued 2020, LIMRA Finds
U.S. annuity sales totaled $219 billion in 2020, 9% lower than sales in 2019, according to results from the Secure Retirement Institute U.S. Individual Annuity Sales Survey.
In the fourth quarter, annuity sales rebounded to pre-pandemic levels. Total annuity sales were $58.6 billion, up 2% from 2019.
“At the start of the pandemic, the 10-year treasury plummeted to 56 basis points and the equities market contracted 32%,” said Todd Giesing, senior annuity research director, SRI. “Worried investors turned to registered index-linked annuities (RILAs) and fixed-rate deferred annuities for the balance of downside protection and investment growth. As a result, protection-focused products increased market share, representing more than half of all retail annuity sales in 2020.”