Risk Factors Update Summary
- Continued disagreement over the federal debt limit and budget questions could result in a government shutdown or default, impacting market liquidity and economic activity.
- Rising inflation may impact sales and persistency of insurance products, reserve estimates, pricing accuracy, and investment fair value.
- Interest rates in 2023 were higher than historically low levels, affecting product margins and earnings.
- Low interest rate environment poses reinvestment risk, potentially reducing earnings and margins.
- Accelerated amortization or additional liabilities for insurance products due to lower future investment earnings could reduce net income.
- Changes in interest rates may decrease spread earnings, potentially leading to losses.
- Regulatory agencies' slow approval of rate changes or inflation control measures could impact profits and cash flow.
Full Text Changes in Most Recent 10-K
Intended use: review the highlighted statements. These are additions to the risk factors disclosure in the most recent 10-K filing compared to the previous 10-K filing. Deleted and moved text is less important and is shown for context.
To view the full company filings, click on the following link to be taken to the SEC EDGAR database landing page for the company: https://www.sec.gov/edgar/browse/?CIK=1224608&owner=exclude
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