U.S. Life Insurers' Variable Annuity Business Hit Hard in Third Quarter

Volatility and sharp declines in the U.S. stock market hit the variable annuity business of some big names in the life insurance industry in the third quarter. Several companies took millions in charge-offs for the cost of acquiring new business and saw higher costs for hedging against risks associated with guarantees offered to policyholders on these retirement-income products.

U.S. Life Insurers' Variable Annuity Business Hit Hard in Third Quarter
Source: Trading Markets
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