Broker-Dealer Special Interest Group Meeting Highlights

| April 2, 2019

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Last week, we had the opportunity to host our first Special Interest Group meeting focused on retail broker-dealers that are subsidiary operations of life insurance companies. The session was extremely well attended, with 14 individuals representing nine broker-dealers in participation. We had a wide-ranging discussion addressing myriad technical and business issues these entities face as they look to compete for both talent and customers in a highly competitive climate—one buffeted by a plethora of technical, demographic, and business model changes that are challenging the status quo. Retail broker-dealers perform a key task for life insurers by enabling both the sale of variable products and the integration of third-party manufactured products so critical to creating a competitive portfolio of offerings. Broker-dealers bring together proprietary and non-proprietary products in a managerial and compliance-oriented framework that allows a carrier to navigate the complex intricacies of a business with multiple jurisdictional authorities. In addition to the traditional state insurance regulators, products that have any ties to an equity market also require regulation from federal authorities including the SEC and FINRA.

Spotlight

The Ardonagh Group

The Ardonagh Group brings together leading businesses in their fields to create a smart new vision for the insurance industry. Autonet, Carole Nash, Chase Templeton, Direct Group, Price Forbes and Towergate are active across distribution, wholesale, underwriting and services. Together we form the principal diversified and independent broking and underwriting group in the UK. That adds up to a network of over 100 offices and a workforce of over 6,000 people, whose commitment to customer service is now enhanced by access to a broader range of products and risk solutions.

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