Quarterly reports

Soleares Research, LLC is a market research and consulting firm servicing the annuity and life insurance businesses. We provide, through our website, periodic articles that cover important industry trends; we also offer clients phone or on-site consultations, executive briefings and presentations. We pride ourselves on first-class customer service and responsiveness to our clients. We aim to be an indispensable resource to the marketplace.

List of Articles

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Posted By: Steven D. McDonnell Posted On: Feb 18, 2008

Usually at the end of each year variable annuity sales rebound from the slow period of the summer, however the fourth quarter of 2007 contained a mixture of good and bad for the public insurers we track regularly. Most had at least slight increases in deposits but a few major companies had declines. Along with industry executives and our contacts

Posted By: Steven D. McDonnell Posted On: Nov 12, 2007

After reviewing third-quarter variable annuity deposits and net flows for the group of major publicly-traded insurers we regularly track, we found most of them endured at least a slight decrease in deposits compared to the prior quarter, among factors cited as contributing to this were “seasonality” or the typical slowdown in sales that occur each

Posted By: Steven D. McDonnell Posted On: Oct 29, 2007

We honestly look forward to each quarterly earnings season for publicly-traded insurers, because the statistical reports and conference calls always contain plenty of useful information on variable product sales. In this report we’re going to share some thoughts on our minds as third quarter results are beginning to come in...

Posted By: Steven D. McDonnell Posted On: Oct 01, 2007

We’re always on the lookout for real concrete data on variable annuity living benefits and to that end we’ve been combing through insurers’ quarterly financial supplements and statutory statements to extract whatever information is publicly available. In this report we’ll share with you some of the numbers we found and consider the latest directio

Posted By: Steven D. McDonnell Posted On: Aug 13, 2007

This report will wrap up our observations regarding second-quarter variable annuity sales results of major public insurers we normally monitor, and will also include some quick thoughts on new guaranteed living benefits that have been filed lately…

Posted By: Steven D. McDonnell Posted On: Aug 06, 2007

This report picks up where we left off last week in our monitoring of second-quarter variable annuity sales results for the publicly-traded insurers we track regularly. We found it significant that VA deposits increased for all five companies we’re mentioning here – which we think is a good sign both for them and the industry as a whole...

Posted By: Steven D. McDonnell Posted On: Jul 30, 2007

Each quarter, when we review variable annuity deposit and net flow results of publicly-traded insurers, we’re also trying to get some idea as to how the industry as a whole might be doing. We’ve performed this exercise for quite a few periods now, and lately we’re discovering that looking at our coverage group does hint at the status of the rest o

Posted By: Steven D. McDonnell Posted On: Jun 18, 2007

Since the topic has been on the minds of our contacts and colleagues, in this report we’re going explore the topic of variable annuity net flows, a measurement somewhat controversial when introduced to the industry several years ago, and which at times has proven difficult to apply to the complexities of insurance products...

Posted By: Steven D. McDonnell Posted On: May 07, 2007

For the publicly-traded variable annuity insurers we track on a quarterly basis, 2007 seemed to start off on a slow note, at least on a sequential basis: a few companies saw modest increases in sales and deposits compared to last fourth quarter while the others were flat or down. And, as has been the case of late, just a few firms had positive net

Posted By: Steven D. McDonnell Posted On: Feb 26, 2007

For the fourth quarter of 2006 variable annuity sales grew for all the publicly-traded insurers we track, reflecting the experience of the industry as a whole, which we hear rebounded from the lackluster sales of the prior quarter. Moreover, many company executives and industry observers have a positive outlook on the business for the year ahead..

Posted By: Steven D. McDonnell Posted On: Feb 05, 2007

We’re constantly maintaining that the importance of living benefits to the variable annuity business cannot be overstated. Although most of the market right now is concentrated on lifetime withdrawal benefits, there’s been resurgence in competition surrounding Guaranteed Minimum Income Benefits (GMIBs), and they remain a crucial part of some insur

Posted By: Steven D. McDonnell Posted On: Jan 15, 2007

This week we’re going to continue on the theme of our previous commentary by noting more adjustments insurers are making to their variable annuity living benefits, fees and related provisions…

Posted By: Steven D. McDonnell Posted On: Dec 18, 2006

As the holiday season is now upon us, in our last commentary of the year we’ll take the opportunity to quickly consider how things went for the variable annuity business in 2006, using currently-available data, and suggest some lessons and implications for the future. Once full-year sales are posted we’ll revisit these thoughts and discuss the yea

Posted By: Steven D. McDonnell Posted On: Nov 06, 2006

The third quarter was a mixed bag for the nine major public variable insurers we regularly track, as all saw sales levels fall sequentially, but apparently these companies don’t feel the results were troubling and still have plenty of optimism. Nearly all the conference calls reflected the competitive pressure around benefit guarantees, yet some e

Posted By: Steven D. McDonnell Posted On: Aug 14, 2006

We always look forward to reviewing major public insurers’ quarterly calls during earnings season, as these companies in many ways act as barometers for the health of the variable annuity business as a whole. In this report, we’ll go over the second-quarter reports of nine insurers, more or less in chronological order, and try to identify reasons

Posted By: Steven D. McDonnell Posted On: May 08, 2006

With this commentary we’ll resume our coverage of first quarter earnings calls and show how some insurers, due to their scale and ability to offer cutting-edge ideas, have seen resurgence in their variable annuity sales, although we must add that competitive advantage can be short-lived, so these firms must continually innovate to keep pace with th

Posted By: Steven D. McDonnell Posted On: May 01, 2006

Last week we listened to first quarter earnings conference calls of five publicly-traded insurers who do business in the U.S. variable space, and for some of these companies, annuity sales improved, although surrenders – more often than not from “vintage” annuities – remain an issue...

Posted By: Steven D. McDonnell Posted On: Feb 13, 2006

In the second installment in a regular commentary of The Soleares Report, we are going to review variable annuity business fourth quarter reports and consider what happened in 2005 as a whole. In future weeks we’ll make further observations on the past year and try to identify important themes to consider...

Posted By: Steven D. McDonnell Posted On: Dec 12, 2005

In looking at third quarter results for the variable annuity business, we note that some companies with improving sales and market shares did not necessarily see their overall rankings change correspondingly; indeed, some kept the same positions, others actually moved down...

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