As the nation's 77 million Baby Boomers get ready for retirement, insurers are increasingly acquiring asset management companies, Investment News reports.
In May,
Now,
While insurers expect that annuities and other types of insurance products will grow in popularity among Boomers, they also realize they will also be looking for hybrid products.
"To some extent, insurance companies, especially the ones that are mutual companies, have a little more capital and freedom to bid on these things," noted Jonathan Stern, managing director with investment banking firm
The staff of Money Management Executive ("MME") has prepared these capsule summaries based on reports published by the news sources to which they are attributed. Those news sources are not associated with MME, and have not prepared, sponsored, endorsed, or approved these summaries.