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AM Best finds declining credit quality and shifting dynamics in US annuity market
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AM Best finds declining credit quality and shifting dynamics in US annuity market
A new report from AM Best, the credit rating agency, highlights notable changes in the US life and annuity sector. According to AM Best, assets backing individual annuity products now represent more than 36% of total industry reserves, up from 32% prior to the 2008 financial crisis. AM Best explains that this increase reflects a broader transition away from traditional defined-benefit retirement solutions toward models that depend more heavily o…
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