Acting to Reduce Risk for Variable Annuities Sector

Across the variable annuities sector, numerous issuers took steps to reduce risk in the third quarter. Some insurers replaced older benefits with more expensive, less generous and more restrictive versions. Others closed older products or prohibited additional purchase payments to existing contracts. But new products were issued as well - many seem designed to appeal to underpenetrated market segments, primarily the RIA and direct sales channels.

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