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Press Releases

The Insured Retirement Institute's mission is to be a resource to the media by providing information that can be of assistance in the education and better understanding of the role that annuities play in financial retirement plans.

 

Press Releases  

IRI Kicks Off Annual Meeting

The Insured Retirement Institute (IRI) today announced the election of Lynne Ford, CEO of ING Individual Retirement as the Chairman of the IRI Board of Directors. Ms. Ford replaces James Shepherdson, Chairman Emeritus of AXA Distributors, LLC and Managing Partner of Crossroads Capital Group, who will remain on the IRI Board as past Chairman until 2013. Mr. Shepherdson is credited with the successful execution of the Association’s rebranding, the expansion of IRI’s membership and growing the overall financial foundation of IRI.

Annuity Sales Continue Double Digit Climb

The Insured Retirement Institute (IRI) today announced second quarter results for the United States annuity industry. Annuity sales for the second quarter continued to increase at a double-digit rate. Second quarter industry wide sales were $60.4 billion, up 10 percent from $55 billion in the second quarter of 2010. Second quarter sales also garnered quarter-to-quarter growth, increasing at a rate of 4 percent from $58.1 billion in the first quarter of this year.

IRI/RegEd ATP Now Features State Reciprocity Calculations

The Insured Retirement Institute (IRI) and RegEd today announced significant enhancements to their Annuities Training Platform (ATP). As a direct result of input from more than 30,000 users, in 18 states, the ATP now features valuable real-time state reciprocity calculations and confirmations through an easy-to-navigate interface for users. In addition, the ATP can now accept completion data from other training vendors.

VA Benefit Activity Triples in Second Quarter

The Insured Retirement Institute (IRI) today released a report on product trend updates within the U.S. variable annuity market. Compiled by Morningstar, the report found that variable annuity benefit activity nearly tripled in the second quarter with the filing of 30 new benefits over the previous quarter filings of 11 new benefits. While the Lifetime Guaranteed Minimum Withdrawal Benefit (GMWB) continues to dominate the marketplace, a few Guaranteed Minimum Accumulation Benefits (GMAB) made a return, and a major carrier made enhancements to its Guaranteed Minimum Income Benefit (GMIB). Of note, 17 of the 23 living benefits released in the second quarter were designed as lifetime withdrawal riders.

Portfolios that Confront Risks Driven by Five Factors

The Insured Retirement Institute (IRI) today released exclusive retirement risk analysis by Peng Chen, PhD, CFA, President of Morningstar’s Global Investment Management Division, that offers guidelines about how much the average American retiree might want to allocate to guaranteed retirement strategies. In “Confronting Retirement Risks” featured in the latest edition of the Insured Retirement Institute (IRI) Insight Chen advises investors of key risks and five factors to consider when planning for retirement. He highlights two key risks—longevity risk and financial market risk—as pivotal issues investors face in managing their retirement portfolios.

Anniversary Successes Highlighted by Highly Engaged Membership

Marking the two-year anniversary since the Insured Retirement Institute (IRI) embarked on a comprehensive rebranding initiative, the association is now the only organization that represents the entire supply chain of insured retirement strategies. Today, IRI members are the major insurers, asset managers, broker dealers and more than 75,000 financial professionals from across the nation. Also, honoring 20 years of service, commitment and collaboration within the insured retirement industry, IRI is leveraging the collective strength of the association’s highly engaged membership to benefit not only the entire industry, but also the consumers that rely on the financial guarantees only IRI members can provide.


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