BELLEVUE, Wash.–(BUSINESS WIRE)–
Symetra Life Insurance Company announced that Fortune® magazine and Great Place to Work®, the global authority on workplace culture, have recognized Symetra on the 2025 Fortune Best Workplaces for Women List. This is Symetra’s fourth consecutive appearance on the list, coming in at No. 32 among the top 100 organizations in the large workplace category.
Symetra was named to the Fortune Best Workplaces for Women list for the fourth consecutive year. It was ranked No. 32 among the top 100 organizations in the large workplace category.
To determine the Best Workplaces for Women, Great Place To Work (GPTW) analyzed the survey responses of nearly 605,000 women who work for Great Place To Work Certified companies that were eligible for the list. To be considered, a company must employ at least 50 women, have at least 20 percent of non-executive managers who are women, and at least one female C-suite executive.
“Symetra is incredibly proud to be recognized once again by Fortune and Great Place to Work as a best workplace for women,” said Chief Human Resources Officer Anne-Marie Diouf. “Like GPTW CEO Michael Bush, we believe that ‘when women thrive in the workplace, everybody else does too. That’s what it means to be a ‘For All’ company, where the expectation is that every employee can have a great experience and reach their full potential.’”
Company rankings are derived from 60 employee experience questions within the Great Place To Work Trust Index Survey. Survey responses reflect a comprehensive picture of the workplace experience. Honorees were selected based on their ability to offer positive outcomes for women regardless of job role, race, sexual orientation, work status, or other demographic identifier (full methodology here).
Great Place To Work measured the experience of women at participating companies and compared those results to their peers within the organization. The best companies create great work experiences for all women, from the frontline to the C-Suite.
In addition to its Fortune Best Workplaces for Women honors, Symetra’s recent workplace awards and recognition include Fortune Best Workplaces in Financial Services & Insurance (2025, 2024, 2023), Fortune Best Workplaces for Millennials (2024), Fortune Best Workplaces for Parents (2024) and Forbes America’s Best Midsize Employers (2023). The company has been Great Place to Work certified since 2022.
To learn more about working at Symetra, its remote-first environment and current opportunities, visit https://www.symetra.com/careers/.
About Symetra
Symetra Life Insurance Company is a subsidiary of Symetra Financial Corporation, a diversified financial services company based in Bellevue, Washington. In business since 1957, Symetra provides employee benefits, annuities and life insurance through a national network of benefit consultants, financial institutions, and independent financial professionals and insurance producers. For more information, visit www.symetra.com.
About Great Place To Work
As the global authority on workplace culture, Great Place To Work brings 30 years of groundbreaking research and data to help every place become a great place to work for all. Its proprietary platform and Great Place To Work Model help companies evaluate the experience of every employee, with exemplary workplaces becoming Great Place To Work Certified and receiving recognition on a coveted Best Workplaces List.
About Fortune
Fortune upholds a legacy of award-winning writing and trusted reporting for executives who want to make business better. Independently owned, with a global perspective and digital agility, Fortune tells the stories of a new generation of innovators, builders, and risk takers. Online and in print, Fortune measures corporate performance through rigorous benchmarks and holds companies accountable. Fortune creates communities by convening true thought leaders and iconoclasts — those who shape industry, commerce, and society – through powerful and prestigious lists, events, and conferences, such as the iconic Fortune 500, the CEO Initiative, and Most Powerful Women. For more information, visit fortune.com.
OLDWICK, N.J.–(BUSINESS WIRE)– AM Best has affirmed the Financial Strength Rating (FSR) of A++ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa+” (Superior) of Massachusetts Mutual Life Insurance Company (MassMutual) (domiciled in Springfield, MA) and its life/health subsidiaries, C.M. Life Insurance Company and MML Bay State Life Insurance Company (both domiciled in Enfield, CT). Concurrently, AM Best has affirmed the Long-Term Issue Credit Ratings (Long-Term IRs) of “aa-” (Superior) on the surplus notes of MassMutual and “aa+” (Superior) on notes issued under the funding agreement-backed securities programs of MassMutual Global Funding II. The outlook of these Credit Ratings (rating) is stable. (See below for a detailed listing of the Long-Term IRs and Short-Term Issue Credit Rating [Short-Term IR]).
Additionally, AM Best has affirmed the FSR of A++ (Superior) and the Long-Term ICRs of “aa+” (Superior) of MassMutual Ascend Life Insurance Company (MassMutual Ascend) and Annuity Investors Life Insurance Company (ALIC) (collectively referred to as MassMutual Ascend Life Group). Furthermore, AM Best has affirmed the FSR of B++ (Good) and the Long-Term ICR of “bbb+” (Good) of Manhattan National Life Insurance Company (Manhattan Life). The outlook of these ratings is stable. These companies are domiciled in Cincinnati, OH.
The ratings reflect MassMutual’s balance sheet strength, which AM Best assesses as strongest, as well as its strong operating performance, very favorable business profile and very strong enterprise risk management (ERM).
MassMutual’s risk-adjusted capitalization, as measured by Best’s Capital Adequacy Ratio (BCAR), is at the very strong level, which reflects the company’s ability to support its insurance, investment and business risks. The company’s capital levels have increased over the years, driven by earnings growth and strong investment income. MassMutual holds elevated investment allocations in private placements, below investment-grade bonds and Schedule BA assets, but these have been effectively managed through MassMutual’s Barings investment subsidiary and are monitored with good asset-liability management capabilities and robust stress testing. Financial flexibility is supported by the organization’s proven ability to access the capital markets. MassMutual maintains sufficient liquidity to meet sudden, unanticipated needs, and this is monitored and stress tested on a regular basis. MassMutual’s leverage ratios remain well within AM Best’s guidelines.
MassMutual continues to hold leading market positions in life insurance, fixed and fixed-indexed annuities, pensions and institutional asset management. The company’s business profile has shifted in recent years toward whole life, fixed annuity, pension risk transfer and institutional asset management. AM Best assesses MassMutual’s ERM program’s capabilities as very strong relative to its risk profile. AM Best expects MassMutual to continue investing in technology across its distribution platforms and enhance its ERM and innovation programs going forward.
The ratings of MassMutual Ascend reflect its balance sheet strength, which AM Best assesses as very strong, as well as its strong operating performance, favorable business profile and very strong ERM.
AM Best assesses MassMutual Ascend’s balance sheet strength as very strong. The company’s balance sheet is supported by consistently strong earnings and a funds withheld coinsurance arrangement with Martello Re Limited. The company’s invested assets are managed by Barings. While invested assets are of good credit quality, AM Best noted increased allocations to structured securities, private placements and NAIC class 2 bonds, similar to that of its parent company, MassMutual. Nearly all of MassMutual Ascend’s reserves are interest-sensitive.
MassMutual Ascend’s operating performance has been supported by a trend of favorable earnings results, although results may fluctuate due to the change in the fair value of derivatives held on its fixed-indexed annuities. Premiums have increased over the past few years.
AM Best assesses MassMutual Ascend’s business profile as positive, as the company is benefiting from MassMutual’s business profile and resources. MassMutual Ascend’s ERM is assessed as very strong as it has been integrated into MassMutual’s ERM program.
The ratings of Manhattan Life reflect its balance sheet strength, which AM Best assesses as very strong, as well as its marginal operating performance, limited business profile and appropriate ERM.
Manhattan Life’s book of business is in run-off mode, with most of its liabilities reinsured through highly rated reinsurers. The company’s risk-adjusted capitalization, as measured by BCAR, is assessed at the strongest level, and the parent company has previously demonstrated that they will support the life company with capital contributions when needed. Manhattan Life’s earnings trends have been volatile, and a small increase in life claims can have a material impact on results. Partially mitigating factors include its modest portion of business relative to the enterprise and the support of its parent and a long-term trend of declining reserves due to the nature of the run-off company.
The following Long-Term IRs have been assigned with a stable outlook:
MassMutual Global Funding II—“aa+” (Superior) program rating
— “aa+” (Superior) to the GBP 500 million, 5.023% senior secured medium term notes, due Sept. 29, 2032
— “aa+” (Superior) to the JPY 14 billion, 2.15% senior secured medium term notes, due Oct. 10, 2025
The following Long-Term IRs have been affirmed with stable outlooks:
MassMutual Global Funding II—“aa+” (Superior) program rating
— “aa+” (Superior) on all outstanding notes issued under the program
The following Short-Term IR has been affirmed:
Massachusetts Mutual Life Insurance Company—
— AMB-1+ (Strongest) on commercial paper program
The following Long-Term IRs have been affirmed with stable outlooks:
Massachusetts Mutual Life Insurance Company—
— “aa-” (Superior) on $250 million, 5.625% surplus notes, due 2033 (of which $193 million remains outstanding)
— “aa-” (Superior) on $750 million, 8.875% surplus notes, due 2039 (of which $129 million remains outstanding)
— “aa-” (Superior) on $400 million, 5.375% surplus notes, due 2041 (of which $263 million remains outstanding)
— “aa-” (Superior) on $500 million, 4.5% surplus notes, due 2065 (of which $254 million remains outstanding)
— “aa-” (Superior) on $475 million, 4.9% surplus notes, due 2077
— “aa-” (Superior) on $838.5 million, 3.729% surplus notes, due 2070
— “aa-” (Superior) on $700 million, 3.375% surplus notes, due 2050
— “aa-” (Superior) on $500 million, 5.672% surplus notes, due 2052
— “aa-” (Superior) on $675 million, 3.2% surplus notes, due 2061
— “aa-” (Superior) on $800 million, 5.077% surplus notes, due 2069
This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.
AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.
OLDWICK, N.J.–(BUSINESS WIRE)– AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a+” (Excellent) of Commonwealth Annuity and Life Insurance Company (Brighton, MA), First Allmerica Financial Life Insurance Company (Brighton, MA), Forethought Life Insurance Company (Indianapolis, IN), Accordia Life and Annuity Company (Des Moines, IA), and its affiliates, Global Atlantic Re Limited (Bermuda) and Global Atlantic Assurance Limited (Bermuda). These subsidiaries are referred to collectively as Global Atlantic Group (Global Atlantic). AM Best also has affirmed the Long-Term ICR of bbb+” (Good) of Global Atlantic Financial Group Limited (Bermuda). The outlook of these Credit Ratings (ratings) is stable.
The ratings reflect Global Atlantic’s balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, favorable business profile and appropriate enterprise risk management (ERM).
The rating affirmations reflect Global Atlantic’s supportive balance sheet strength metrics. The balance sheet strength metrics are driven by risk-adjusted capitalization that AM Best assesses at the strong level, as measured by Best’s Capital Adequacy Ratio (BCAR), ample liquidity and strong financial flexibility. The investment portfolio is composed primarily of fixed income instruments including corporate bonds, mortgage loans, structured securities and government securities. AM Best notes continued investment into alternative securities including private credit. Global Atlantic has experienced double-digit growth in the group’s invested assets over the past five years. The main drivers in this growth include an increase in direct business written in the group’s individual markets, and large block reinsurance transactions. The block transactions introduce some volatility in net premium growth, but the five-year trend is generally positive.
The group’s operating performance is adequate to reflect recent statutory strain and premium growth. Underwriting losses continue to be offset largely by investment income. New money yields and investments in alternative assets have produced record-high yields for the portfolio. Overall earnings have been lower over the recent three-year period, particularly on a statutory basis. Premium growth is expected to remain strong with support from robust distribution channels in the individual and institutional business segments.
The group’s favorable business profile has grown in the annuity and preneed markets. Global Atlantic has a strong market presence and is a top writer in both the individual annuity and preneed space. Global Atlantic also has expanded its presence in the reinsurance space domestically and internationally. The group utilizes several different structures and treaties to provide reinsurance solutions that strengthen relationships with its clients. Global Atlantic continues to utilize its sidecars, Ivy I, Ivy II, and Ivy III as co-investment vehicles. These sidecars help Global Atlantic in providing solutions to its reinsurance clients and provide co-investors with more investment opportunities.
The group’s ERM program has continued to grow and adapt, meeting the needs of the group and the larger organization. AM Best expects continued program expansion with support from KKR & Co. Inc.’s capabilities.
This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.
AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.
OLDWICK, N.J.–(BUSINESS WIRE)– AM Best has revised the outlook to negative from stable for the Long-Term Issuer Credit Rating (Long-Term ICR) and affirmed the Financial Strength Rating (FSR) of B++ (Good) and the Long-Term ICR of “bbb+” (Good) of CICA Life Insurance Company of America (CICA). The outlook of the FSR is stable.
The Credit Ratings (ratings) reflect CICA’s balance sheet strength, which AM Best assesses as strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management (ERM).
The negative outlook on the Long-Term ICR reflects pressure on CICA’s balance sheet strength metrics due to new business strain, which is the result of its strategic growth initiatives. Additionally, the company’s strong level of risk-adjusted capitalization may be pressured if operating losses persist for longer than it anticipates.
CICA’s balance sheet strength is driven by its strong level of risk-adjusted capitalization, as measured by Best’s Capital Adequacy Ratio (BCAR). The company maintains a strong liquidity position that is within industry averages. Liquidity is enhanced by a $10 million of Federal Home Loan Bank (FHLB) lending capacity and $20 million in a bank line of credit. These sources are a liquidity backstop with no operating leverage taken at this time. The company has a conservative investment portfolio, with a majority of assets being held in investment grade fixed income.
Operating performance has been challenged over the last three years due to increasing underwriting expenses. As CICA continues to grow, statutory strain is expected to limit profits over the near term. Over time, performance should stabilize once these new policies turn profitable. Investment earnings have been adequate and consistent over the last five years.
CICA is licensed in 43 states (plus the District of Columbia) with over 45,000 policies and the company is primarily concentrated in the southern United States, with an emphasis on the Hispanic population.
CICA utilizes an ERM strategy that is appropriate for its size and scale of operations, as well as the risks carried on its balance sheet. Over the near term, CICA is expected to develop a more formal ERM program to match its increasing operating risks.
This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.
AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.
Flexible, AI-driven technology platform to integrate insurance and investments
NEEDHAM, Mass.–(BUSINESS WIRE)– Advisor360°, a leading provider of integrated technology for wealth management firms, is pleased to announce that U.S. life insurance provider and registered broker-dealer Allstate Financial Services, LLC has selected Advisor360° as the provider of its new, AI-driven wealth management technology platform. The new platform will unify insurance and investment product portfolios into a modern and intuitive digital experience for Allstate customers and employees.
With Advisor360°, personal financial representatives for Allstate Financial Services, LLC will gain household-level views across brokerage, advisory, insurance products, and other important customer data. They will be able to analyze their book of business through dashboards and insights, including in-force policies and next-best actions.
“Advisor360° offers an excellent solution for uniting our insurance and investment offerings and data in a way that allows our Personal Financial Representatives to offer holistic, high-quality advice at scale,” said Scott Delaney, CEO of Allstate Financial Services, LLC. “With Advisor360°, we found a partner that understands financial professionals, agents and customers, while also offering them leading-edge innovation in ‘wealthtech’ – helping us to grow and protect more people in more ways.”
“We’re thrilled that Allstate Financial Services, LLC has entrusted Advisor360° and our flexible and AI-powered platform to support its growing organization,” said Mike Fanning, CEO, Advisor360°. “We’re committed to delivering modern technology solutions that are a win for them. It’s our core belief that better workflows and streamlined operations will mean improved efficiency and better outcomes for customers, agents, financial professionals, and employees.”
Allstate Financial Services, LLC will also benefit from AI-powered workflows, including Advisor360°’s award-winning digital onboarding capabilities, which can help to speed the time to open accounts, streamline home office operations, and boost efficiency.
About Advisor360°
Advisor360° builds, integrates, and delivers technology for wealth management firms. The company’s award-winning, integrated, and open architecture SaaS platform brings a connected digital wealth experience to financial advisors, their clients, and the home office. Powered by AI-driven insights, Advisor360° streamlines portfolio and performance reporting, financial planning, insurance, proposal generation, trading and model management, document management, analytics, and compliance. The company’s proprietary Unified Data Fabric® (UDF) ensures seamless integration with existing tech stacks. Today, three million households with $1 trillion in assets benefit from the connected Advisor360° experience. To learn more, visit www.advisor360.com.
All trademarks and registered trademarks mentioned herein are the property of their respective owners. Any reference to third-party trademarks is for informational purposes only and does not constitute an endorsement, sponsorship, or affiliation.
Securities offered by Personal Financial Representatives through Allstate Financial Services, LLC (LSA Securities in LA and PA). Registered Broker-Dealer. Member FINRA, SIPC. Main Office: 151 North 8th Street, Suite 450, Lincoln, NE 68508. (877) 232-2142 Check the background of this firm on FINRA’s BrokerCheck website http://brokercheck.finra.org.
Americans lack knowledge about Social Security and its role for retirement income.
KEY FINDINGS:
55% say they don’t know much about Social Security or how it will fit into their retirement plan
46% worry about maximizing their Social Security income in retirement
39% say they have a plan for how they will take Social Security in retirement
MINNEAPOLIS–(BUSINESS WIRE)–
While Social Security is an important source of income in retirement, most Americans lack basic knowledge of the program and could risk misusing the benefit, according to the 2025 Annual Retirement Study* from the Allianz Center for the Future of Retirement, part of Allianz Life Insurance Company of North America (Allianz Life).
The majority of Americans (55%) admit they don’t know much about Social Security or how it will fit into their retirement plan. That lack of understanding could lead to Americans missing out on strategically using the benefit as part of their overall retirement strategy. At the same time, many Americans (46%) worry about maximizing their Social Security income in retirement.
“Social Security is a key part of a retirement strategy – the benefits provide guaranteed income for a lifetime that increases with cost-of-living adjustments and is tax advantaged,” says Kelly LaVigne, VP of consumer insights, Allianz Life. “But, taking full advantage of the program to best suit your retirement strategy involves careful planning and making informed decisions. Without a plan for Social Security, a retirement strategy is not complete.”
Just 39% of Americans say they have a plan for how they will take Social Security in retirement. Boomers, who are generally between age 60 and 80, are the most likely to say they have a plan for Social Security in retirement (77%). Just 30% of Gen Xers and 23% of millennials said the same.
Worries about the future of Social Security are also on the rise. Two in three (67%) worry that Social Security will not be available throughout their retirement, up from 57% last year.
Americans’ Social Security knowledge gap
Many Americans have misconceptions about how Social Security works and its role in a retirement plan. A few critical knowledge gaps exist for Americans:
The majority of Americans (53%) say Social Security will be a major source of their retirement income. And some believe that the benefit alone will fund their retirement with 21% saying Social Security is all they need in retirement. Yet, Social Security replaces only about 40% of the average worker’s wages when retiring at age 651.
Most Americans (55%) think the age for receiving full Social Security benefits is 65. In fact, the full retirement age varies between 66 and 67, depending on birth year. Americans are first eligible for the retirement benefit as early as age 62.
Three in four (73%) say it is best to wait as long as possible to claim Social Security benefits. While delaying claiming Social Security benefits increases the payments, there are other factors to consider. To make an informed decision around when to claim Social Security benefits, Americans need to take into account their health, possible life expectancy, taxes, other sources of retirement income, among other factors. The majority (54%) say they are not sure when it will be best for them to start taking Social Security
“A financial professional can help educate you on Social Security and how it could fit into a retirement income plan for you,” LaVigne says. “You may want to also consider a source of guaranteed lifetime income in addition to Social Security to ensure you can cover your essential expenses.”
*Allianz Center for the Future of Retirement conducted an online survey, the 2025 Annual Retirement Study in January/February 2025 with a nationally representative sample of 1,000 Respondents age 25+ in the contiguous U.S. with an annual household income of $50k+ (single) / $75k+ (married/partnered) OR investable assets of $150k+.
The Allianz Center for the Future for Retirement produces insights and research as a part of Allianz Life Insurance Company of North America.
1 Social Security Administration, Replace rates for hypothetical retired workers, May 2025
About Allianz Life Insurance Company of North America
Allianz Life Insurance Company of North America (Allianz Life), one of the Ethisphere World’s Most Ethical Companies®, has been trusted since 1896 to help millions of Americans prepare for financial uncertainties and retirement with a variety of innovative risk management solutions. In 2024, Allianz Life provided additional value to its policyholders via distributions of more than $18.6 billion. Allianz Life is a leading provider of fixed index annuities, registered index-linked annuities, and indexed universal life insurance. Additionally, Allianz Investment Management LLC (AllianzIM), a wholly owned subsidiary of Allianz Life, is a registered investment adviser and adviser to AllianzIM ETFs, which offers a suite of exchange-traded funds (ETFs). Allianz Life and AllianzIM are part of Allianz SE, a global leader in the financial services industry with more than 157,000 employees in nearly 70 countries. Allianz Life is a proud sponsor of Allianz Field® in St. Paul, Minnesota, home of Major League Soccer’s Minnesota United.
The enhancements address evolving employee needs and help employers offer more inclusive, sought-after workplace benefits.
ST. PAUL, Minn.–(BUSINESS WIRE)–
Securian Financial is adding new reproductive health benefits to its group critical illness insurance product, part of its growing suite of supplemental health insurance available through workplace benefit packages. The enhancements bring modern, inclusive support to employees navigating some of life’s most personal journeys.
Critical illness insurance provides employees with a lump-sum cash benefit when they are diagnosed with a covered medical condition. The benefit is paid directly to the employee, who can use it to offset out-of-pocket medical bills, household expenses or other financial needs. Employers can offer this coverage as a voluntary benefit, providing meaningful protection to employees with little to no employer cost.
With the new enhancements, Securian’s critical illness insurance—issued by Securian Life Insurance Company—now provides coverage for key reproductive health conditions, including:
Premature menopause
Egg and sperm harvesting
Abnormalities of the uterus, fallopian tubes or ovaries
Disorders of the reproductive organs (for both men and women)
Viral or bacterial reproductive infections
“Reproductive health is an essential part of overall well-being, yet employees often struggle to find affordable, accessible support when they need it most,” said Lydia Jilek, Securian Financial vice president for Employee Benefits Solutions. “By enhancing our critical illness insurance, we’re helping employers provide benefits that meet the realities of today’s workforce—support that is inclusive, compassionate and competitive in attracting and retaining talent.”
Meeting a growing workforce demand
The need for reproductive health benefits is clear and growing:
One in six people worldwide and one in eight U.S. couples face fertility challenges1
Premature menopause is 3-4 times more prevalent than once thought and often goes untreated2
83% of Gen Z and 77% of Millennials say family-building benefits are important when considering an employer3
Employees with access to fertility benefits are 1.5 times more likely to recommend their employer to others1
“Delays in starting families due to career and financial priorities, coupled with medical realities, are driving increased reliance on reproductive health services,” said Jilek. “At the same time, reducing stigma around infertility and menopause means more employees are seeking care—and turning to workplace benefits for support.”
A competitive edge for employers
“By expanding coverage to include reproductive health, Securian Financial is helping employers differentiate their benefit offerings in a competitive labor market,” added Jilek. “These enhancements reflect our continued investment in supplemental health benefits and our commitment to supporting the diverse needs of today’s workforce.”
Securian Financial offers supplemental health benefits, including accident, critical illness and hospital indemnity insurance, to employers nationwide issued by its subsidiary, Securian Life Insurance Company. The company is also the nation’s third-largest direct writer of group life insurance.4
FOR USE IN ALL STATES EXCEPT AZ AND GA.
ABOUT SECURIAN FINANCIAL
To be confident in your financial future, you need to trust the strength and commitment of the companies you choose to work with. For more than 140 years, the Securian Financial family of companies has been developing innovative insurance and retirement solutions to meet the evolving needs of individuals, families and businesses. Offered through partnerships with employers, financial professionals and affinity groups, our products help bring peace of mind to more than 23 million customers throughout the United States and Canada. We are trusted by our partners and customers to fulfill our purpose of helping to build secure tomorrows. For more information about Securian Financial, visit securian.com or follow us on Facebook, Instagram or LinkedIn.
1. “Why you need to offer infertility support for your employees—and how to design better benefits,” Maven Clinic, 2024.
2. “The overlooked and untreated perils of premature ovarian insufficiency,” Cleveland Clinic Journal of Medicine, 2025.
4. As of December 31, 2024, based on direct group life insurance in force on a consolidated basis. Source: S&P Global Market Intelligence. This statistic reflects the insurance subsidiaries of Securian Financial Group, Inc., Minnesota Life Insurance Company and Securian Life Insurance Company.
Limitations and exclusions apply. This policy has exclusions, limitations and terms under which the policy may be continued in force or discontinued.
Products are offered under the policy form series 23-32606 or state variation thereof. Benefit for covered conditions will be payable upon a diagnosis of a covered condition that satisfies the requirements of the policy and when all other policy requirements are met.
Insurance products are issued by Minnesota Life Insurance Company or Securian Life Insurance Company, a New York authorized insurer. Minnesota Life is not an authorized New York insurer and does not do insurance business in New York. Both companies are headquartered in St. Paul, MN. Product availability and features may vary by state. Each insurer is solely responsible for the financial obligation under the policies or contracts it issues.
Securian Financial is the marketing name for Securian Financial Group, Inc., and its subsidiaries. Minnesota Life Insurance Company and Securian Life Insurance Company are subsidiaries of Securian Financial Group, Inc.
Inflation tops insurers’ risk concerns (63%), while overall risk appetite remains low (12% planning to increase exposure)
Private markets continue to gain importance, with 30% of insurers planning to increase their allocations and 58% intending to maintain current levels
85% of insurers are open to, and actively planning, a shift toward more flexible asset management models
Capital Management priorities include utilizing reinsurance sidecars, (67%), increasing usage of third-party capital (54%), and enhancing captive capabilities (53%)
Technology investments are focused on AI-related software (74%), portfolio and risk management (70%), and liability and analytical tools (56%)
NEW YORK–(BUSINESS WIRE)–
Insurers are bracing for another year of uncertainty, with inflation once again cited as one of the top macroeconomic risks, according to BlackRock’s 14th annual Global Insurance Report. The report surveyed 463 senior investment professionals across 33 markets—representing $23 trillion in assets under management—shows a sector adapting with caution but also seizing opportunities in both public and private markets.
Even as risk appetite remains low – just 12% of insurers plan to increase their overall investment risk exposure in 2025 – allocations to private markets continue to rise. Nearly a third (30%) of insurers expect to increase private allocations with 58% intending to maintain their current exposure. 79% of respondents expect their private markets exposure to change by 1 to 5%, 13% anticipate a change between 6 and 9%, and 1% expect a change of 10% or more over the next 12 months, influenced by market movements and asset allocation over the next 12 months, signaling the continued structural shift toward private assets that has persisted across rate cycles. Private credit, infrastructure, and multi-alternative strategies remain the most cited opportunities.
At the same time, public markets remain foundational to portfolios: 73% of insurers plan to maintain their current allocations and 21% plan to increase them.
“The story of 2025 is one of caution amid volatility, but also of conviction in the long-term opportunities private markets can offer,” said Mark Erickson, Global Insurance Strategist of BlackRock’s Financial Institutions Group. “Insurers are navigating the environment with discipline while many are embracing new operating models, such as hybrid solutions to access private assets, and adopting investment, risk, and AI software to strengthen their portfolios.”
As the report highlights, insurers are focused not only on navigating current market volatility, but also on positioning their portfolios for long-term competitiveness. Many are rethinking their investment strategies and operating models. Private credit, infrastructure and technology continue to serve as useful tools to support insurers’ strategic initiatives.
“Insurers are sophisticated allocators across public and private markets, operating in a highly competitive and regulated environment. Today, we’re witnessing an accelerated transformation, particularly among life insurers, toward long-term private capital deployment, especially in areas like private credit and infrastructure. Their deep expertise, disciplined approach, and long-term investment horizon uniquely position them to offer valuable perspectives to other institutional investors navigating similar challenges,” said Charles Hatami, Global Head of the Financial & Strategic Investors Group and Co-Head of the Global Partners Office at BlackRock.
A defining feature of this year’s report is the shift toward more flexible operating models. As the competitive and market dynamics continue to evolve, insurers are adapting. Regarding their asset management operating model, 87% of insurers are changing their approach. Rather than solely relying on their in-house capabilities, many are adopting hybrid models that combine their internal expertise with external partners, supported by major investments in technology. In addition, we’ve observed a growing emphasis on capital management across all types of insurers. Over the next 12 months, 67% anticipate utilizing reinsurance sidecars, 54% expect to increase their use of third-party capital, and 53% plan to expand their captive management capabilities. This heightened focus on capital management is largely driven by insurers’ need to diversify balance sheet income through greater fee-based revenue, optimize balance sheets and capital structures, differentiate asset mixes via sidecars, and access non-dilutive sources of capital.
Insurers also remain committed to their long-term sustainable and transition investing goals. For the second year in a row, insurers most commonly cited clean energy infrastructure (55%) as the most attractive opportunity for sustainable and transition investing, followed by core infrastructure (51%) and green bonds (38%).
The BlackRock Global Insurance Survey, now in its fourteenth year, provides industry-leading insight into the thinking and plans of the insurance industry through independently conducted interviews of senior insurance executives across the globe. This year’s survey conducted in July – September 2025 encapsulates the views of 463 senior industry executives in 33 markets with the following regional distribution: 37% from EMEA, 29% from North America, 25% from Asia-Pacific, and 9% from Latin America. Taken together these companies represent investable assets of approximately US$ 23 trillion. The associated interactive report complements the global findings with regional results, comments from industry peers and insights from BlackRock experts.
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A public comment period ended on Thursday, with insurance regulators no closer to a final decision on a controversial proposal to limit the publication of risk-based capital (RBC) data.
More than 300 people participated in a joint conference call between the Capital Adequacy Task Force and the Risk-Based Capital Model Governance Task Force. Regulators spent an hour discussing comment letters and hearing from those authors.
“I think everyone recognizes that industry and many others have used RBC for purposes beyond [what it is intended for],” said Mike Yanacheak, chief actuary at the Iowa Insurance Division. “It is an indicator that is used for other items, whether that is for capital sufficiency to support dividend pay up to a holding company and on to shareholders, or if it is used in other manners, to be just one element at looking at the strength of a company.”
RBC numbers are a regular feature of public companies’ financial reports and earnings calls with Wall Street analysts. RBC requirements provide for a ratio to assess the level of risk associated with an insurance company’s assets.
The concern is that the wide dissemination of RBC figures is leading to a misunderstanding of insurance companies’ financial strength, Ohio regulators have claimed. A proposal prohibits any insurer from putting its RBC ratio in its earnings releases, press releases, webcast materials, or presentations.
“Because the [National Association of Insurance Commissioners] formula develops threshold levels of capitalization rather than a target level, it is neither useful nor appropriate to use the RBC formula to compare the RBC ratio developed by one insurance company to the RBC ratio developed by another,” the proposal reads. “Comparisons of amounts that exceed the threshold standards do not provide a reliable assessment of their relative financial strength.”
What RBC confusion?
The RBC debate has industry trade groups and consumer representatives on the same side, a rare occurrence. Scott Harrison is a former regulator and current CEO of the National Alliance of Life Companies.
“I’m trying to identify in my own mind, going back to the early days of RBC, when there’s ever been confusion around what a representation or statement of a particular company’s RBC meant,” Harrison said. “[I]f you go in the direction suggested to eliminate or prevent or prohibit the use of RBC, people are going to find alternatives.”
Peter Gould is an annuity owner from Indiana who frequently joins the calls to provide a consumer voice. He suggested a wider dissemination of RBC, up to five past years’ worth, readily available for consumers to read.
“The only way I can find it is to dig into annual reports, and that’s not very consumer-friendly,” Gould said. “While I understand that RBC is just a metric, it’s not a be-all, end-all means of ranking companies; it’s an important metric, and it ought to be out there where we can find it.”
‘Not actually weaker’
Yanacheak offered a simple example of how RBC can be misinterpreted: Two identically situated companies, but Company A opts to be more conservative and sets up additional reserves in support of its policyholder obligations. Company A is going to show less capital and have a lower RBC ratio.
“[T]he company is not actually weaker,” Yanacheak explained. “In fact, they’ve shown responsibility, and I think regulators would prefer to encourage that. But their RBC ratio has come down by setting up the additional reserves.”
Regulators plan to meet one more time to discuss comment letters before the NAIC fall meeting, December 8-11.
Indexed universal life insurance has continued to generate interest over the last decade as consumers seek principal protection and investment-linked growth potential in an uncertain equity market environment. Most recently, LIMRA reported that new IUL premiums shot up 31% in the second quarter of 2025, reaching $1.2 billion.
Randy Pierson
The popularity can largely be attributed to IUL’s hybrid functionality, the release of new and enhanced products, innovation in tools that simplify the sales process, and an expanded distribution approach from insurers. However, critics point to unethical or misleading marketing tactics that inflate the application numbers to the detriment of beneficiaries.
It’s our duty to disprove this negative perception by adopting the best ethical practices when marketing or selling IUL to our clients.
Addressing the problem of IUL complexity
The growing demand for IUL products has attracted the attention of some less-than-scrupulous actors, who have aggressively marketed IULs with less-than-accurate messaging that doesn’t adequately inform consumers about the potential risks or downsides.
The truth is, IULs are complex products that can’t be adequately explained in catchy sales pitches or unrealistic illustrations. Some agents and brokers have used these dubious tactics to market IUL as a “one-size-fits-all” solution to reliable retirement income, with upside potential and no risk of losses.
However, these overly simplified projections and illustrations can be misleading or downright deceptive if not presented with complete transparency and realistic expectations. Many clients mistakenly believe these optimistic illustrations represent a guaranteed return or may agree to complicated premium financing schemes they don’t truly understand.
Policyholders can be left in a worse financial position when those high expectations meet reality. They may contribute to the many lawsuits seeking damages against unethical producers and insurers. It’s no surprise that this bad publicity has attracted increased regulatory oversight, especially regarding fees, illustrations and interest crediting. For example, the National Association of Insurance Commissioners’ updated AG 49-A guidelines cap IUL projections at around 6%-7%, pushing carriers to stick to realistic scenarios in their illustrations.
Leading with ethical considerations
Changing this negative perception requires us to commit to transparency, full disclosure and a client-centric approach. Here are some key ethical factors that should lead your IUL sales and marketing activities.
Policyholder suitability: Understanding your audience is crucial to ethically selling IUL. Not everyone needs permanent life insurance. Although IUL is often marketed as a retirement income solution, it may work best for younger, healthier clients with a longer time horizon. It can still be a retirement vehicle, but it should be built into a more comprehensive financial plan. Engage in detailed discussions to assess your clients’ goals. Don’t be afraid to have conversations that might disqualify IULs from being the right recommendation.
Full disclosure: Agents must clearly explain all fees and limits associated with the IUL policy. Although IULs offer a 0% floor to protect from losses, they also have restrictions on their upside potential, such as caps or participation rates. Be sure to fully disclose all information on these limits or additional fees. Transparency about these costs helps clients understand the actual cost of the policy up front.
Realistic expectations and illustrations: When using IUL illustrations, be conservative with the premiums and rates you use, especially for clients concerned about price or affordability. Agents should focus on setting realistic expectations, especially regarding premium payments and index history or performance. It’s crucial to emphasize that illustrations are not guaranteed, and results may vary.
Three steps to a more ethical IUL sales process
The following are common sense and practice for most agents, but not all.
Assess the value: The first step of a compliant and ethical IUL sale is a thorough suitability assessment and client intake process. Dive into client-focused conversations to gather information on clients’ goals and risk tolerance. You can only properly assess the value of IUL policies for their unique circumstances by understanding their holistic financial planning needs.
Explain the details: Transparency is key when selling IULs ethically; often, the devil is in the details. Agents should present a comprehensive analysis of policy factors, not only the ones that sound attractive to consumers. These include cap rates, floor rates, participation rates, surrender fees and other associated costs to ensure clients can make informed decisions and won’t feel deceived down the road.
Reinforce realistic expectations: Agents should set clear expectations regarding premium payments, market performance and growth potential throughout the sales process. Using conservative projections and avoiding sales-oriented jargon will help manage policyholders’ expectations.
The future requires transparency
As the industry and regulatory landscape evolve, the immediate future of IUL sales is still projected to be bright. However, in the long run, the success and reputation of IUL products will depend on the transparency and ethical practices.
That means we can make all the difference. Embracing these best practices will benefit us individually as trusted financial professionals, while giving a more positive impression on our entire industry. Doing it the right way will lead to better future client outcomes.
List. This is Symetra’s fourth consecutive appearance on the list, coming in at No. 32 among the top 100 organizations in the large workplace category.
