Market rally helps life insurers, but some still struggle with old books of VA business, Moody’s says

Although improving financial markets have helped lift some life insurance carriers, the firms still have a ways to go before they recover fully, according to a report from Moody’s Investors Service... The equity markets’ rally since March has taken some of the pressure off life insurance carriers that write variable annuities, according to the report from the New York-based ratings agency.

Nevertheless, some insurers are still having problems with old books of VA business that they either mispriced or failed to hedge for risk, leaving them open to the adverse effects of low interest rates and high equity volatility...

Investment News: Market rally helps life insurers, but some still struggle with old books of VA business, Moody’s says