MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Monday, December 9, 2002 Another Insurer Lets Go VA Marketers Allstate's Lincoln Benefit Life has eliminated 30 marketing jobs in its independent broker-dealer sales channel, according to the firm. The move is a response to a more than eighty percent decline in the firm's VA sales. Sales for the firm have fallen to just 55 million from 500 million two years ago. The move comes on the heels of Allmerica's decision to cut 400 jobs from its variable annuity product line. Unlike Allmerica, which has seen its credit rating deteriorate, over all business at Allstate remains strong, according to the insurer. Gene Wraith, president of Lincoln Benefit, informed employees and strategic partners of the decision in a letter in which he noted that the firm had only made it 25 percent of the way to its sales target. Printed from: MFWire.com/story.asp?s=4131 Copyright 2002, InvestmentWires, Inc. All Rights Reserved |