Ameriprise 2013 Annual Report Download - page 8
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A recognized
leader
Leading financial
planning company
in the U.S.
#1 customer
experience —
investment firm
category
#3 full-service
investment
online brand
#2 mutual fund
advisory program
in assets
#8 IRA provider
#8 long-term
mutual fund
assets in the U.S.
#5 VUL/IUL
provider
Strong financial
strength ratings
See page 12 for sources.
6 Ameriprise Financial Annual Report 2013
prudent product features, and nancial strength help to ensure
that these businesses can continue to deliver for our clients and
shareholders. In an extended period of low interest rates, our
protection and annuity businesses are performing well with
good sales growth in our channel, strong risk characteristics
and solid returns.
We’ve taken a number of steps over the past few years to further
optimize the risk prole of our variable annuity products, including
ending new third-party sales and adding investment options
designed to help manage volatility. We are adding business where
we want and experienced a good pick up in variable annuity sales
in 2013. We're also focused on offering clients variable annuities
without guaranteed benet riders, as they look to generate tax-
deferred savings and income for retirement. While we’re growing
our variable business, xed annuity sales remained low given the
current interest rate environment. That said, we have an attractive
xed annuity book and as rates rise, we anticipate having an
opportunity to add to it.
With regard to life insurance, with $194 billion in life insurance in
force, we have a sizable business, and I feel very good about its
earnings and risk prole. In 2013, we generated strong growth in
sales of indexed universal life and variable universal life, important
solutions for clients’ protection and long-term asset accumulation
needs. And with health care concerns increasingly on the minds of
those in retirement, we introduced RiverSource TrioSourceSM — an
innovative universal life insurance product with long-term care
benets that ts well with our nancial planning approach.
In addition, we’ve steadily grown our Auto & Home policyholder
base — up 11 percent in 2013. We, like others in the industry,
were impacted by weather-related losses last year. However, we
are being recognized for high customer satisfaction and remain
focused on targeted growth opportunities in both the direct and
afnity channels.
As we serve more clients and deepen existing relationships, we
believe we can continue to grow our protection and annuity
businesses prudently. We are deriving strong returns while