Hedging

Soleares Research, LLC is a market research and consulting firm servicing the annuity and life insurance businesses. We provide, through our website, periodic articles that cover important industry trends; we also offer clients phone or on-site consultations, executive briefings and presentations. We pride ourselves on first-class customer service and responsiveness to our clients. We aim to be an indispensable resource to the marketplace.

List of Articles

First | Previous |
1 | 2 | 3 |
Next | Last

Posted By: Steven D. McDonnell Posted On: Mar 23, 2015

In this report we’ll get caught up with trends in variable managed-volatility portfolios, which over the past few years have been gathering assets at a fairly rapid pace. We’ll also share a few corrections and additions to our research regarding these portfolios...


Posted By: Steven D. McDonnell Posted On: Mar 16, 2015

This February we saw a fairly large number of new variable insurance funds get registered with the SEC, which is typical for the time of year, as insurers prepare to update their products in May. In these pages we’ll cover the new arrivals and other developments we found interesting over the course of the month...


Posted By: Steven D. McDonnell Posted On: Feb 17, 2015

As is our practice each quarter, we reviewed earnings results for selected stock-traded insurers we track regularly, and came to the conclusion that for most of them, variable annuity operations performed more or less in line with expectations, but with a few hiccups here and there...


Posted By: Steven D. McDonnell Posted On: Dec 30, 2014

Each year we devote the last commentary of December to taking a quick look back at the past year in the variable annuity business, and we’ll do so again this time, and also make some observations on trends in other annuity forms...


Posted By: Steven D. McDonnell Posted On: Nov 24, 2014

As usual there weren’t a large number of variable insurance fund filings during this October, as most new registrations are submitted to the SEC earlier in the year. Still, there were a few interesting developments which we’ll cover in this commentary...


Posted By: Steven D. McDonnell Posted On: Nov 17, 2014

In this commentary we’ll offer up some comments on third-quarter results of Dutch insurer AEGON, because it has a substantial variable annuity business in the U.S. and its experience in the quarter mirrored that of some competitors here...


Posted By: Steven D. McDonnell Posted On: Nov 10, 2014

Third quarter earnings season for the publicly-traded insurers we watch regularly concluded last week, and for most of those companies, variable annuity business operations retained profitability, largely because the stock market’s rise caused assets under management to grow...


Posted By: Steven D. McDonnell Posted On: Oct 28, 2014

Earnings season for publicly-traded insurers is now underway but won’t finish until midway through next month, so in this commentary we’ll offer up some of our suspicions on how variable annuity sales moved in the third quarter, plus touch on a few recent product filings...


Posted By: Steven D. McDonnell Posted On: Oct 06, 2014

In this report we’ll discuss variable annuity filing activity from the past few weeks. Of particular note was the registration of new contracts from Lincoln National, aimed at IRA rollover money, which will include a lifetime withdrawal benefit and just one sub-account – a volatility-control fund...


Posted By: Steven D. McDonnell Posted On: Sep 29, 2014

Variable insurance volatility-control portfolios continue to gather assets at a brisk pace around the industry – and not just because of the introduction of brand-new ones. In recent months a large number of existing portfolios were reworked to add vol controls, greatly increasing total assets under management for the group...


Posted By: Steven D. McDonnell Posted On: Jul 28, 2014

In recent reports we’ve opined about how slow activity along the variable annuity product pipeline has become this summer. Yet last Friday MetLife cut through the seasonal doldrums by registering an interesting new contract with a guaranteed living benefit...


Posted By: Steven D. McDonnell Posted On: Jun 09, 2014

This report contains our coverage of notable variable insurance fund filings from the month of May, and to summarize that time period, most activity involved changes to existing offerings. We didn’t see any new registrations with the SEC in the quarter...


Posted By: Steven D. McDonnell Posted On: Jun 02, 2014

To date, only a few insurers have come out with structured annuities, which contain a basket of index-linked options with buffers to protect investors against a set percentage of losses. That’s why we were somewhat surprised to see a registration last week of a new offering from ING USA Annuity Life Insurance Company...


Posted By: Steven D. McDonnell Posted On: May 19, 2014

In the first quarter of this year variable annuity sales fell, on a sequential basis, for every member of our group of publicly-traded insurers we watch regularly, which makes us pretty sure that the industry experienced a similar result...


Posted By: Steven D. McDonnell Posted On: May 05, 2014

While the May variable annuity prospectus update season has been somewhat slower than usual, we did see a few interesting product initiatives filed recently, including instances of buyout programs and other incentives targeting holders of vintage benefits...


Posted By: Steven D. McDonnell Posted On: Feb 10, 2014

During the month of January we saw a large number of new variable insurance portfolios registered with the SEC, as well as plenty of interesting changes to existing funds and platforms. It came as no surprise to us to see yet more activity related to volatility control funds (VCFs). We will discuss those developments in this commentary...


Posted By: Steven D. McDonnell Posted On: Jan 20, 2014

With this report we will get caught up with noteworthy variable insurance fund filings from the last two months of 2013. There were quite a few interesting developments during that time, particularly related to volatility-control funds...


Posted By: Steven D. McDonnell Posted On: Dec 30, 2013

Throughout most of 2013, variable annuity sales took a downward trajectory, due mostly to the de-risking undertaken by insurers, mirroring moves they had executed the year before. While net flows into VAs slowed, fixed and indexed annuity sales grew, sustaining total annuity industry output...


Posted By: Steven D. McDonnell Posted On: Dec 09, 2013

It’s our opinion that the annuity business in the U.S. is showing signs of becoming more balanced in terms of its product offerings and sales practices. Some of this process of change is happening partly out of necessity, and through recent innovations that appear to be taking hold...


Posted By: Steven D. McDonnell Posted On: Nov 12, 2013

It seems to us that most variable annuity insurers fared well this third quarter from an earnings standpoint, helped by a rise in the stock market. However VA sales were down for the group of seven stock-traded carriers we watch regularly, which makes us think that the industry as a whole probably experienced the same kind of result...


Posted By: Steven D. McDonnell Posted On: Sep 23, 2013

Ever since the financial crisis of 2008, we have seen a variety of volatility management strategies developed around the industry, from creative hedging strategies devised by variable annuity insurers to hedge their benefit risks, to solutions being marketed to retail mutual fund investors...


Posted By: Steven D. McDonnell Posted On: Aug 05, 2013

In July there was a pickup in filing activity related to variable insurance portfolios, with a number of interesting registrations, including two brand-new fund trusts. A good number of the new registrations are scheduled to launch in the fall thus it looks like some insurers are planning adjustments to their sub-account platforms before the year i


Posted By: Steven D. McDonnell Posted On: Jul 15, 2013

In our last few commentaries we’ve shared our suspicion that, based on language in some recent SEC filings, four state insurance departments might not allow some or all of Hartford’s planned sub-account restrictions on certain variable annuity guaranteed living benefits, scheduled for this October. Last week we got confirmation that for one of the


Posted By: Steven D. McDonnell Posted On: Jun 17, 2013

In this commentary we’ll get caught up with variable insurance fund filings from the months of April and May, a time period that was fairly active, however we didn’t see a large number of new registrations...


Posted By: Steven D. McDonnell Posted On: Jun 10, 2013

Investors and analysts are very curious as to how variable annuity operations may affect the health and profitability of insurers, especially since companies are now pulling away from selling rich guarantees. As we noted in our last commentary, MetLife devoted a large portion of its investor day to shedding more light on its VA business. Lincoln Na


First | Previous |
1 | 2 | 3 |
Next | Last