Deals & People October 18, 2011

Towers Watson Names Co-Head of Insurance-Linked Securities

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

Popkin will assist clients in a 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. He will report to Ed Hochberg, head of TWCM, and is based in New York.

Prior to joining Towers Watson, Popkin worked at RWE Supply & Trading, as head of financial institution origination and head of structured credit solutions. 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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Data & Research October 18, 2011

Non-Retirees Want Retirement Income Certainty

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%), in the Allianz Life survey.

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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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 have no clear idea of what they would need in order to feel their retirement will be secure.

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