Risk Factors Update Summary
- Added disclosure on reserve assumptions affecting earnings due to changes in reserves and DAC.
- Amortization of DAC and VOBA based on expected future premium income, with annual recoverability testing.
- Change in DAC and VOBA amortization method effective January 1, 2023, no longer requiring recoverability testing.
- Potential adverse effect of declining single-A interest rate on financial statements and operations.
- Increased focus on ESG standards and expectations, with a developed sustainability strategic framework.
- Potential impact of new ESG-related regulations on business operations, expenses, and compliance requirements.
- Risks associated with cyber attacks, compromised data, and unauthorized disclosure, affecting operations and regulatory actions.
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.
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