Confidential Regulatory Matter Involving Alleged Failure to Annuitize Variable Annuities

Managing Principals Bruce Deal and Mark Gustafson worked with a major insurance company and its outside counsel to assist the company in its negotiation with state insurance regulators related to allegations that the company failed to annuitize variable annuities consistent with the contracts. An Analysis Group team provided support for all phases of the remediation, including developing preliminary exposure estimates, performing alternative analyses to support development of a negotiating position, preparing analyses for consideration by the regulators, assisting with development of materials to be provided to policy holders eligible for remediation, auditing the remediation calculations, and supporting the final remediation. Our work included simulating annuity payouts and exposure for more than 15,000 different scenarios.


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