01.13.23
Athene COO Sees Non-Variable Annuity Sales Boom Continuing
by: Allison Bell
Mike Downing, chief operating officer of Athene Holding, reported that annuity sales conditions were much better than expected in 2022 and continue to be strong. Last year “was a remarkable year for the life insurance industry and the annuity portion of the industry,” he said. “What we’ve seen have been some of the best conditions we’ve seen in decades.” Because insurers tend to increase annuity rate guarantees more quickly than banks increase interest rates on certificates of deposit, the new interest rate environment continues to encourage clients to move cash away from CDs and into annuities, he added.
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