The financial crisis stung annuities carriers more than most in the insurance industry. However, as the meltdown recedes, the industry is still well positioned to capitalize on broad shifts in demographics and consumer demand, a new report from New York-based Novarica finds.
"The annuity marketplace is changing rapidly, between its reinvention following the market crash of 2008 and consumers' growing interest in private alternatives to social safety networks like Social Security,” notes Don Desiderato, a principal in Novarica's insurance practice and lead author of the study.
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