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Q1 Results Brought New Accounting Adjustments for the VA Business

Steven D. McDonnell

First quarter earnings season concluded last week for the publicly-traded insurers we regularly monitor, and for most of them, variable annuity deposits and net flows declined, much as we expected. What surprised us were accounting changes some insurers implemented, which served the dual purpose of addressing the impact of sagging market performance on key aspects of their businesses, while helping to shore up financial results...

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