In the News

Title

Advisers fear private equity's reach into VAs

Document Type

Article

Publication Date

12-20-2017

Abstract

Financial advisers have expressed alarm over recent reports of insurers looking to offload large blocks of variable annuities to private investors.

Voya Financial Inc. announced Thursday it is selling tens of billions of dollars' worth of variable and fixed annuities to three private-equity firms, Apollo Global Management, Crestview Partners and Reverence Capital Partners.