The insurance industry is well positioned to grab more of the $16 trillion-plus in U.S. retirement assets in the coming years. This was the message given by Robert Kerzner, to 400 attendees at the 2011 Retirement Industry Conference being held this week in Las Vegas. The annual Retirement Industry Conference event is hosted by LIMRA, LOMA and the Society of Actuaries.
“Over the past 25 to 30 years, the life insurance industry has increased our assets due in large part to our increased focus on the retirement market,” said Kerzner, president and CEO of the LIMRA, LOMA and LL Global. “But our results pale in comparison to the success the mutual fund companies have had in this market. We have a major opportunity to communicate the unique benefits our industry offers to Generations X and Y, who won’t have defined benefit plans to rely on in retirement, and win more of the market share.”
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