Filed Under:Annuities, Variable

Variable annuities still weigh on 3 U.S. life insurers

According to a report by Moody’s Investor Service, variable annuities continue to “negatively impact the balance sheets of the three largest variable annuity writers.” Those three being: Prudential, Jackson National and MetLife.

"Balance sheet headaches are lingering long after the end of the financial crisis," says Scott Robinson, a Moody's senior vice president. "The steep drop in equities during the financial crisis prompted insurers to increase reserves and capital to offset risk linked to variable annuities, and although risk exposures have decreased, they are still substantial."

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Nichole Morford

Nichole Morford
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