by John Darer CLU ChFC MSSC RSP
The life insurers that issue structured settlement companies that issue structured settlement annuities are a bunch of “losers”, COMPARED to BANKS
But the “losers” in Failures should stand proud to be at the end of a 100-0 pasting as the second half kicks off.
In 2009, the bankers really showed the life insurance industry. They REALLY ran up the score, shellacking the structured settlement annuity issuing life insurance companies by the score of 140-0.
The bankers also had more modest numerical advantage in “clean sheets” against structured settlement companies the year before, and the year before that.
Again, the Failure Scoreboard
The FDIC just announced Friday July 23, 2010 that it had closed the 100th bank in 2010. At this time last year the number was 57. The problem bank list fell to 775 during Q1 2010 which is still higher than 2009.
Life insurers issuing structured settlement annuities had no failures in same time frame
The evidence shows that life insurers issuing structured annuities have had no failures during the same time period. Life insurers on the whole have stood the test of time.
Things looking up for Banks?
But things are looking up! CNN reports that Q1 2010 was the most profitable quarter for banks (and other institutions) insured by FDIC in over 2 years.
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