SubscribeSign In
Banking Turmoil
Timeline of EventsWhat to KnowWhy First Republic Failed JPMorgan's WinWhat Happens NextYour MoneyNewsletter Signup

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com.

https://www.wsj.com/articles/there-were-runs-on-banks-not-on-insurers-heres-why-c9eea5f0

There Were Runs on Banks, Not on Insurers. Here’s Why.

Annuities are full of penalties for cashing out, deterring investors from seeking higher rates

By Jean Eaglesham
Marc Rowan, chief executive of Apollo Global Management, said that bank-run risk doesn’t impact the annuities industry because people use these investments to save for retirement. Photo: Lauren Justice/Bloomberg News

Investors who stashed billions of dollars in low-yielding annuities did a surprising thing last year: nothing. As interest rates shot up from near-zero, dramatically improving the returns on new annuities, investors mostly stayed in their existing policies, new data show.

Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Continue reading your article with
a WSJ subscription

Subscribe Now

Already a subscriber? Sign In

Sponsored Offers
  • TurboTax:
    Save up to $15 with TurboTax coupon May 2023
  • The Motley Fool:
    Epic Bundle - 3x Expert Stock Recommendations
  • H&R Block Tax:
    15% Off DIY Online Tax Filing Services | H&R Block Coupon
  • Top Resume:
    10% TopResume Discount Code for expert resume-writing services
  • eBay:
    30% off eBay coupon
  • Groupon:
    Exclusive: 30% Off Groupon Promo Code
  • The Wall Street Journal
  • Sign In
  • Facebook
  • Twitter
  • Instagram
  • YouTube
  • Podcasts
  • Snapchat
  • Google Play
  • App Store
  • Privacy Notice
  • Cookie Notice
  • Copyright Policy
  • Data Policy
  • Subscriber Agreement & Terms of Use
  • Your Ad Choices
  • Accessibility
  • Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved.
  • Google Play
  • App Store
Sign In
Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved.

Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com.