Manages existing annuity contracts and a small block of variable life policies for individuals and groups in the United States and Puerto Rico, and assumes certain annuity business through reinsurance.
10-K for FY2025, filed Mar 19, 2026The Company has issued variable, index-linked, and fixed deferred and immediate annuities for individuals and groups in the United States…View ↗
The Retained Business primarily consists of variable annuity products with guaranteed lifetime withdrawal benefit features as well as…View ↗
Registered index-linked annuities and fixed annuities, which includes fixed indexed and fixed deferred annuities, and other variable…View ↗
Earns charges and fees from annuity policyholders for insurance options and features, plus administrative and distribution fees and revenue-sharing tied to mutual funds. It also earns investment income from general account and other funds.
10-K for FY2025, filed Mar 19, 2026
$596M
10-K for FY2025, filed Mar 20, 2026
$596M ↗
The company's annuity contracts have been sold primarily to individuals for long-term savings and retirement needs, and also to groups.
10-K for FY2025, filed Mar 19, 2026
Yes. It kept 16 cents of every revenue dollar as net income in FY2025.
10-K for FY2025, filed Mar 20, 2026
10-K for FY2025, filed Mar 20, 2026
$94MView ↗
Shrinking. Revenue fell 93% in 4 years, from $8.9B in FY2021 to $596M in FY2025, about 49% a year.
Assuming annuity business
The company had described itself as only ceding reinsurance, but the latest report also says it assumes certain annuity business under reinsurance agreements.
10-K for FY2022, filed Mar 22, 2023 10-K for FY2025, filed Mar 19, 2026The Company has historically entered into reinsurance agreements as both a ceding entity and an assuming entity. As of December 31, 2022…View ↗
The Company has issued variable, index-linked, and fixed deferred and immediate annuities for individuals and groups in the United States…View ↗
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