A Financial Executive's Guide to Proposed Changes in Statutory Reserve and Risk-Based Capital Requirements for Variable Annuities

Topics:
Insurance
Tags:
Annuity,
Finance,
Financial,
Financial Accounting,
Financial Executive,
Investment,
KPMG International,
Risk-based Capital
Source:
KPMG International

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Overview: Variable annuities have become one of the top success stories for the life insurance industry in the last decade. However, the evolution of guarantees like guaranteed minimum death benefits (GMDBs) and guaranteed living benefits (GLBs), in many cases dependent for their financial viability on sophisticated hedging programs, have caused concern among regulators. This report describes the risks posed by variable annuity guarantees and discusses proposals that are being considered by committees or task forces of the National Association of Insurance Commissioners (NAIC) in response to these risks.

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Format: PDF | Size: 272KB | Date: Apr 2005 | Pages: 14

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