Description: This article is about variable annuity products in Japan. Topics covered are the history of variable annuities, product and risk management, distribution, the regulatory environment and the market outlook.

Description: A paper demonstrating how to obviate the need for market timing strategies in variable annuity products by judicious use of product design. The paper presents the premise behind the product design, provides numerical examples, then explores possible extensions of the concept to produce more sophisticated variable annuity plans based on guarantees of investment outcomes.