Variable annuities do not pose a systemic risk - Geneva Association
Industry think-tank rejects product’s designation as a non-traditional, non-insurance activity
Variable annuity (VA) business does not threaten financial stability and should not be a criterion for designating global systemically important insurers (G-Siis), insurance think-tank the Geneva Association is arguing.
VAs are retirement products with embedded financial guarantees or living benefits, which require sophisticated risk management practices to hedge. In recent years, VA business has become the target of policy-makers seeking to reduce systemic risk in the financial system. In 2008
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