Financial Services Industry
Industry: Email Alert RSS FeedWhy is the SEC inquiring into insurers' asset allocation programs?(Variable Products)(Securities and Exchange Commission)
National Underwriter Life & Health-Financial Services Edition, March, 2004 by Boros, Joan E.
LAST NOVEMBER, the staff of the Securities and Exchange Commission sent a letter of inquiry to many insurance companies concerning the commonplace asset allocation programs available to owners of variable annuity and life insurance contracts.
While the details differ from company to company, under these programs, contract owners typically are provided with model portfolios to assist them in allocating their contract values among available investment options in accordance with their goals and risk tolerance.
Frequently, these programs are coupled with the contract's rebalancing features, so that the contract values periodically are reallocated to conform to the selected model.
The questions asked by the SEC staff clearly demonstrate how far...
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