Structured annuities

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.

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Posted By: Steven D. McDonnell Posted On: Feb 23, 2021

Since the annuity industry has been facing stiff headwinds of late, due to the COVID-19 crisis, market volatility and historically low interest rates, one might not expect the brisk level of activity we have been seeing along the product pipeline since the start of the year...


Posted By: Steven D. McDonnell Posted On: Feb 01, 2021

It wasn’t that long ago that we discussed trends in registered index-linked annuities (RILAs), however we now feel we must do so again, since several new ones were filed with the SEC recently. This, we think, confirms our feeling that these products will be a major focal point of industry activity in 2021...


Posted By: Steven D. McDonnell Posted On: Jan 25, 2021

In this report we’ll offer up our closing thoughts on variable annuity product filings from 2020, a year which saw an increase in de-risking activity on the part of insurers, as some major names are pivoting way from selling guaranteed living benefits (GLBs)...


Posted By: Steven D. McDonnell Posted On: Jan 18, 2021

This year we intend to follow through on a longtime resolution to start covering fixed-index annuities (FIAs) more frequently in these pages, due to their importance to the overall annuity market and the fact that we think they have long-term growth potential – even though their near-term prospects have dimmed due to low interest rates...


Posted By: Steven D. McDonnell Posted On: Jan 04, 2021

This year we intend on providing our subscribers with more in-depth coverage of registered index-linked annuities (RILAs), firstly because we expect their sales to continue outpacing all other annuity types, secondly because we think insurers will introduce new designs, and thirdly, that RILAs will increasingly have to contend with a rival product.


Posted By: Steven D. McDonnell Posted On: Dec 29, 2020

This will be our customary year-end report, based on what we know from U.S. annuity industry data through the third quarter. It certainly goes without saying that 2020 was a trying one for us all, and we are not “out of the woods” yet, by any stretch of the imagination...


Posted By: Steven D. McDonnell Posted On: Dec 15, 2020

In November we saw several new variable fund registrations, most notable among them a series of defined outcome funds that mimic the attributes of registered index-linked annuities (RILAs) in that they will offer limited protection against investment losses...


Posted By: Steven D. McDonnell Posted On: Nov 11, 2020

In this report we’ll discuss new registered index-linked annuities filed recently by Jackson National, currently the leader in variable annuity sales in the U.S., and one of the only major insurers not to offer such a product. We will also touch on some filings of rate sheets and product changes...


Posted By: Steven D. McDonnell Posted On: Sep 29, 2020

Although times have been difficult for insurers, as they are coping with the COVID-19 pandemic, market volatility, rock-bottom interest rates, social upheaval and the stresses of an election year, those challenges haven’t kept them from filing new products and features in recent months, and we’ll cover some of them in this report...


Posted By: Steven D. McDonnell Posted On: Aug 26, 2020

This report contains our customary review of second quarter annuity results for selected stock-traded insurers. With few exceptions the news was bad, as most companies – especially those who specialize in fixed-index annuities (FIAs) – reported sharp drops in sales...


Posted By: Steven D. McDonnell Posted On: Aug 05, 2020

It wasn’t that long ago that we provided an update on filings of new variable annuity contracts and guaranteed lifetime withdrawal benefits (GLWBs). Well, since then even more have entered the pipeline making it necessary for us to get our readers up to speed again...


Posted By: Steven D. McDonnell Posted On: Jul 15, 2020

This commentary will touch on recent activity along the variable annuity product pipeline – which admittedly has been relatively modest this year – as we have developments to share regarding new contracts and guaranteed living benefits...


Posted By: Steven D. McDonnell Posted On: May 29, 2020

First quarter variable annuity sales for most stock-traded insurers we track regularly improved compared to the prior year, once again due to lower interest rates making the product look better than fixed and indexed annuities. Effects from the COVID-19 crisis were just beginning to be felt in the quarter – they will show up to a greater extent in


Posted By: Steven D. McDonnell Posted On: May 22, 2020

In our view some interesting variable insurance fund filings came through during April, including a few new registrations, sub-advisory and fee changes, and prospectus supplements addressing market risk issues in light of the COVID-19 crisis...


Posted By: Steven D. McDonnell Posted On: May 08, 2020

The month of May is a time when insurers file annual updates to their variable annuity and fund prospectuses, and, admittedly, many filings have been coming through of late – more than enough to keep us occupied...


Posted By: Steven D. McDonnell Posted On: Apr 27, 2020

As first-quarter earnings season will be in full swing next month we’ll offer up a few thoughts on Equitable, the insurer who spun off from parent AXA via initial public offering in May of 2018. We’re certainly overdue in doing so – this year we will add it to the list of companies whose earnings calls we follow each quarter...


Posted By: Steven D. McDonnell Posted On: Apr 20, 2020

Thanks to the COVID-19 crisis we’ve had ample time to hunker down and monitor the variable annuity filing pipeline and in this report we’ll discuss some interesting developments we found, ranging from new registrations, notable amendments and benefit rate sheet updates...


Posted By: Steven D. McDonnell Posted On: Apr 06, 2020

Given the turmoil in the financial markets it’s only natural to think that variable annuity insurers would start to de-risk in earnest, and they have been – we have seen numerous products cutbacks come through recently which we’ll discuss in this report...


Posted By: Steven D. McDonnell Posted On: Mar 05, 2020

Variable annuity sales for most of the stock-traded insurers we track regularly improved in the fourth quarter of last year, in line with how the industry as a whole performed...


Posted By: Steven D. McDonnell Posted On: Feb 20, 2020

This report contains our closing thoughts on variable annuity product filings from 2019, a period that, in our view, was lively in terms of competition among insurers, who engaged in further innovation among emerging product types...


Posted By: Steven D. McDonnell Posted On: Feb 06, 2020

This will be a brief report covering new variable annuities registered with the SEC lately – which we think provide an early indication as to what kind of products will be popular in 2020...


Posted By: Steven D. McDonnell Posted On: Jan 04, 2020

Since we started publishing The Soleares Report, at the end of each year have provided a review – like this one – of how the variable annuity industry fared based on currently-available data, which is intended to help our readers reflect on the recent past and prepare for internal planning meetings...


Posted By: Steven D. McDonnell Posted On: Dec 14, 2019

In this report we’ll get up to date on variable and structured annuity benefits whose elements are set periodically by rate sheet – a risk mitigation approach that has gotten increased usage in recent years...


Posted By: Steven D. McDonnell Posted On: Dec 05, 2019

Throughout this year we have covered filings related to structured annuities – a product type that has gotten much sales traction of late – and lately we began to feel that a more substantial update was in order, thus we are providing one in this report...


Posted By: Steven D. McDonnell Posted On: Nov 26, 2019

To follow up on our last report, while the variable annuity business performed well in the third quarter, the same can’t be said for the total U.S. individual annuity market, which, according to LIMRA, saw deposits dip to their lowest quarterly level since the year-earlier period...


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