David Macchia to Address The National Association of Fixed Annuities (NAFA) on April 20.
Will the fixed annuity industry seize the moment and prepare itself to play the leading role in the greatest movement of money in history? That question about the fixed annuity industry's potential future role in the $20 Trillion opportunity in retirement income distribution is the subject of David Macchia's address to NAFA's "A View From the Top" meeting in Miami, Florida, April 26-28, 2006. "With the leading-edge of the Boomer population now reaching age 60, the fixed annuity industry is at a critical juncture. On the one hand, it may recognize that the economic attributes of the distribution phase - longevity risk management, principal guarantees combined with upside potential and guaranteed income streams- are benefits it is naturally capable of delivering. But there is a risk that the industry may move slowly and fail to create new products and processes with the result that it will lose ground to competitors eager to succeed in the income distribution business."
During his address Mr.Macchia will share examples of leading-edge retirement income solutions currently under development which are capable of delivering long-term, inflation-adjusted retirement income while eliminating investment risk. "Innovation is well underway in terms of both the crafting of new and exciting retirement income programs as well as in the creation of visionary communication tools to help consumers understand both the magnitude of the financial challenges they face as well as the benefits these solutions offer."
