Banks offer combined reinsurance and hedging solution to Japan VA providers
Following risk management failures in the financial crisis, Japanese variable annuity providers’ new VA offerings include conservative investment objectives and sophisticated hedging strategies, combined with reinsurance
As ING's proposed sale of its Asian insurance units shows, legacy exposures from high-guarantee variable annuities sold in Japan before the financial crisis continue to plague international insurers. The reported lack of interest in ING's Japanese business, which is dominated by €18 billion (US$22.1 billion) of variable annuity (VA) liabilities written between 1999 and 2009, has led the Dutch bank to offer to split its Asian business as buyers attempt to avoid any nasty surprises that might
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