Retirement income is key for future success for variable annuity issuers, according to the quarterly outlook from Ernst & Young's Actuarial Advisory Services practice.

"There will be winners and losers in the race to capture and retain the business of Boomers in their next lifestage," said Jack Ladley, an actuary in the actuary advisory services practice. "Firms that understand the coming change and take it on as an opportunity rather than a challenge will win the right to serve this massive, significant and demanding generation as well as the retirees that follow."

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