CANNEX

CANNEX runs a pricing and analytics exchange for annuities and bank deposit products in the United States and Canada. Insurance carriers and banks load their rates and contract terms, and distributors, planning tools and service providers draw on that data. In the US the company says almost 300,000 advisors reach its pricing through firms such as banks, full-service and independent broker-dealers, RIAs, insurance marketing organizations and retirement plan recordkeepers.

Carriers maintain fixed rates, caps, spreads and participation rates on the exchange in real time. For US indexed annuities, CANNEX models each contract so advisors can rank products on income benefit, death benefit, account value and fees, and view present-value analysis and hypothetical illustrations, including for replacement sales. It also covers income annuities, fixed-rate deferred annuities and variable annuities, and publishes benchmarks such as the PAY Index and Implied Longevity Yield. Results are available in the CANNEX portal or fed into third-party planning, sales and compliance tools. In Canada, its GIC Exchange automates applications and administration for term deposits.

CANNEX is based in Toronto and describes itself as independent and privately held, with no financial institution among its shareholders. A quantitative research team offers consulting and due diligence on retirement income programs.