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A Shift in the Living Benefit Arms Race – VA Insurers Start to Scale Back

Steven D. McDonnell

In the past six years the variable annuity industry has been marked by fierce competition between insurers over who has the richest guaranteed living benefits, a phenomenon that has come to be known as the “arms race.” Recently, however, financial market turbulence has caused a spike in the number of these benefits that are in the money, leaving some insurers concerned that they are taking on more risk than they can handle...

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