Deals and People October 18, 2011

Towers Watson Names Co-Head of Insurance-Linked Securities

October 18, 2011 (PLANSPONSOR.com) - Towers Watson has named Michael Popkin co-head of insurance-linked securities (ILS) for Towers Watson Capital Markets (TWCM) Inc., the company’s U.S.-based broker-dealer. 
Reported by

In his role, Popkin will assist clients in a wide range of strategic risk management activities surrounding ILS and industry loss warranties (ILW). He will also aid in the development and implementation of risk transfer solutions in the capital markets, including sidecars, catastrophe bonds, and life insurance-related securitizations, among others. Reporting to Ed Hochberg, head of TWCM, he is based in New York.

According to a press release, for two years prior to joining Towers Watson, Popkin served in two roles –head of financial institution origination and head of structured credit solutions – at RWE Supply & Trading. He has also held the positions of co-head of European structured credit sales at Dresdner Kleinwort in London, and senior vice president and senior portfolio manager for Zurich Financial Services in New York, where he managed a variety of structured product investment portfolios.

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Benefits October 18, 2011

Non-Retirees Want Retirement Income Certainty

October 18, 2011 (PLANSPONSOR.com) - Non-retired Americans are showing a clear desire for guaranteed income in retirement, according to a survey by Allianz Life Insurance Company of North America.
Reported by

When asked to rate several factors related to creating a more secure retirement, the most popular selection was “having a guaranteed stream of income in retirement” (86%), outranking “having a 401(k)/403(b)/457 plan” (71%).  

When asked to rate their own personal needs, nearly half (47%) of non-retirees rated a guaranteed stream of income as the top retirement need they have yet to acquire in order to feel more secure. This was deemed far more important than the next highest selection – “a job that gives me a 401(k)/403(b)/457 plan” (27%) – and more than twice as important as “having a diverse portfolio of investments” (22%).  

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According to a press release, only 8% of non-retirees say they own an annuity, and less than a quarter (18%) have guarantees through a pension. Nearly 40% indicate they own no retirement or investment products of any kind.   

In addition, 26% say they still have no idea what they need to acquire in order to feel their retirement will be secure.

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