Description: A short article looking at the results from an annual assumption survey of VA writers with a focus on changes companies observed and planned to make due to COVID-19. In the article we discuss what companies should be considering as they approach the 2020 year end assumption setting and audit season.

Description: The article shared results from a survey conducted in May of best-estimate VA assumptions as of year-end 2018. Specifically, the discussion focused on lapse, utilization and separate account return assumptions. The results show that a considerable range of practice across assumptions used by the industry for variable annuities. There is a propensity to use complex assumptions to better match the underlying complexity in the products with the behavior expected from policyholders in a dynamic and volatile economic environment.