North American Company Launches NYSE GEARS Index for Fixed Index Annuities
North American Company for Life and Health Insurance, a subsidiary of Sammons Financial Group and a leading issuer of fixed index annuities (FIAs), has announced a new strategic collaboration with Annexus, a prominent insurance retirement product design firm. Together, they are introducing the NYSE GEARS Index to the Secure Horizon FIA portfolio. Developed by Deutsche Bank, the NYSE GEARS Index is designed to optimize global equity market conditions by reallocating assets to capture equity performance while effectively managing risk and reducing volatility. With administration by ICE Data Indices, a part of Intercontinental Exchange, this index enhances the product's competitiveness in today's insurance industry.
Enhanced Customization and Growth Opportunities
This addition to the Secure Horizon product line offers increased customization and flexibility for agents and clients, providing potential growth opportunities in volatile markets. The new index complements existing offerings by enhancing diversification options within the portfolio due to its low correlation with other indices. This strategic move is a testament to the insurance industry's commitment to providing tailored solutions for risk management and regulatory compliance.
Strategic Industry Partnerships
The collaboration signifies an extended partnership between North American, Annexus, ICE Data Indices, and Deutsche Bank, facilitating a broader range of strategies for managing equity investment risks. Intercontinental Exchange, notable for its contributions in financial technology and data services, supports the index's infrastructure, enhancing market transparency and efficiency. Industry professionals can gain more insights into regulatory compliance requirements and product specifics via the New York Stock Exchange website.
Product Specifics and Availability
North American Secure Horizon products, including Secure Horizon Plus and Secure Horizon Accelerator, are issued under specific forms and may not be available in all states. These fixed index annuities offer the potential for interest accumulation based on index performance while protecting against principal loss due to market declines. Importantly, while these products offer protection and potential growth, they are not direct stock market investments and may incur charges that affect the premium. Industry stakeholders are encouraged to access detailed regulatory information and product specifics through official company channels and publications.