VA Insurers are Downshifting, Looking to Trim Risk on their GLWBs

During the first half of this year, a few variable annuity insurers were still selling relatively rich Guaranteed Lifetime Withdrawal Benefits (GLWBs), looking to grab market share at a time when most competitors were scaling back, and we think some did garner a degree of success using that strategy. Lately, however, we are seeing even some of these players begin to reduce the generosity of their guarantees, and we’ll be interested to see how those moves play out over time...