What You Must Know
- As 2023 passes, comparatively quietly, consideration shifts to urgent points for the approaching yr.
- That imply extra dialogue across the Labor Division’s fiduciary commonplace guidelines on annuity professionals.
- Rates of interest and debtors’ means to refinance might be watched as they relate to trade funding portfolios.
What may be essentially the most stunning factor about 2023 is that, for all times insurance coverage and annuity market gamers, it wasn’t all that stunning, or cataclysmic.
Rates of interest had been fantastic. Credit score markets had been uneasy however, principally, fantastic. Gross sales had been nice.
The U.S. Division of Labor revived its effort to impose broad fiduciary duties on anybody utilizing retirees’ rollover belongings to pay for annuities, however the precise guidelines haven’t modified but.
The highest query for 2024 might be in regards to the efforts by the Bermuda Financial Authority to replace its capital accounting guidelines, to answer options that U.S. life and annuity companies is shifting there as a result of Bermuda is a comparatively straightforward capital grader.
If Bermuda goes forward with a capital guidelines replace, how a lot impact will the modifications actually have, and the way will that have an effect on which insurers are sizzling and which aren’t?
And listed below are 9 different questions for the brand new yr.
2. Will rates of interest keep pleasant?
3. Will debtors’ issues with refinancing workplace mortgages and different types of debt shake life and annuity issuers’ big funding portfolios?