As a result of the current economic environment, John Hancock is the latest insurer to limit its annuity exposure.
"Due to volatile equity markets and the historically low interest rate environment that is expected to continue for an extended period of time, John Hancock is restructuring its annuity business," Beth McGoldrick, assistant vice president of public relations for the firm, said.
The firm is discontinuing its Venture 7 series, 4 series and Frontier variable annuities. Of its market-value-adjusted annuities, it will withdraw its JH Signature, JH Choice and Inflation Guard annuities. It will also end its Essential Income Immediate Annuity.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
