Description: This article outlines the IRS directive published in July 2014, which provides a safe harbor treatment for variable annuity hedging gains and losses relating to VA contracts issued before Dec. 31, 2009.

Description: The article summarizes and comments on a recent IRS Chief Counsel Advice that addressed how the proration formula works for purposes of the separate account dividends received deduction in the context of a partnership structure. The article explains the historical background of the proration formula as it appeared in the 1959 Act and the differences between how the applies and affects the dividends received deduction in the partnership structure versus the more tradition RIC structure.

Description: Changes to AG 43 and what that might mean for tax purposes. Also, summary of IRS Notice 2016-63 (provides safe harbor tax guidance on use of 2017 CSO tables).

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: Few product innovations have transfigured the variable annuity (VA) industry as much as guaranteed living benefits (GLBs).

Description: This document requests intents to participate and provides data submission instructions for the 2008 to 2013 Canadian Segregated Fund Policyholder Behavior Experience Study.

Description: This article provides background on managed target volatility funds and how they can be used for variable annuities and the mitigation of gap risk.

Description: Competition for space in distribution channels has resulted in a proliferation of exotic options embedded in variable annuity products. This article discusses how this has created a need which can be addressed, in part, by hedging variable annuity guarantees with long-dated equity derivatives.

Description: This article proposes a new term called the risk surface to enhance risk communications.

Description: This paper describes the use of the Moses software package to model variable annuities with multiple guarantees. Pricing and risk management are discussed.