New products and changes introduced over the last week include a floating rate annuity from Security Benefit, expanded sustainable and impact investing options from Green Alpha Advisors, hospital indemnity insurance from Guardian and iCapital Network's acquisition of Credit Suisse's HedgeFocus business.
In addition, Informa Investment Solutions redesigned its WealthIQ Book of Business; Riskalyze added an annuities and insurance feature to its RiskAlignment platform; and the Global Impact Investing Network launched IRIS 4.0.
Here are the latest developments of interest to advisors:
1) Security Benefit Adds Floating Rate Annuity
Security Benefit Life Insurance Company launched the RateTrack Annuity, a floating rate annuity designed to automatically respond to a rising interest rate environment.
RateTrack Annuity is a single-premium deferred fixed annuity that offers policyholders a guaranteed fixed interest rate in combination with a floating rate pegged to the 3-month ICE LIBOR USD rate that may increase during the term of the contract. Contract owners receive a guaranteed base rate of interest that is set for the contract's guarantee period, plus the 3-month ICE LIBOR USD rate (subject to a cap), which resets annually on the contract anniversary date.
2) Green Alpha Expands Sustainable, Impact Investing Options
Green Alpha Advisors expanded its product offering through the merger of Oakland-based Nia Global Solutions investment strategy team into the firm, including Kristin Hull, cofounder of the Nia Global Solutions investment strategy.
The merger provides an expanded product offering that includes separately managed accounts and a mutual fund investment vehicle, managed with investment solutions that address environmental and sustainability issues.
3) Guardian Adds Hospital Indemnity Insurance
The Guardian Life Insurance Company of America launched a supplemental insurance to address the financial impact of high deductibles and other out-of-pocket costs often not covered by traditional insurance. The plan is available to companies with at least two employees and is guaranteed issue; employees can also retain coverage if they leave their employer.
Guardian Hospital Indemnity Insurance pays lump-sum benefits directly to individuals admitted to a hospital for a covered sickness or injury, whether or not charges are covered by their medical plan. Benefits can be used for any purpose, from covering medical copays and deductibles to paying for everyday expenses such as the mortgage, groceries and utilities.
4) iCapital Network Acquires HedgeFocus from Credit Suisse
