Research: Life Insurers Should Look to Non-Traditional Sources of Growth
While progress in the traditional variable annuity market has been marginal, global analytics firm Cerulli Associates says there is promising opportunity in other business lines, including deferred income annuities and structured VAs.
INN Breaking News, September 6, 2013
Amidst growing financial pressure, insurance companies are looking to non-traditional sources of growth, said Cerulli Associates. According to the global analytics firm’s report, “Annuities and Insurance 2013: Balancing Shrinking Supply and Increasing Demand for Guarantees,” many insurers scramble to diversify their business mix, and opportunities in the pension plan (i.e., defined benefit plans) marketplace are being revealed. “We’ve seen increasing product development and reinvention among insurers in other business lines,” Donnie Ethier, senior analyst at Cerulli said.
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