It’s not news to insurers that the economic turmoil of 2008 has caused significant changes in the way they do business. It has changed the strategic landscape for individual annuity insurers, according to Conning Research & Consulting. Some observers see in this new landscape the potential demise of the variable annuity. A broader view may be that in times of turmoil, those companies that understand and adapt their business model to a new strategic landscape will find themselves better positioned for success, according to a new study by Conning.

"As the economy stabilizes and improves, insurers will confront significant challenges to the business model they have developed over the past few decades," says Scott Hawkins, analyst at Conning Research & Consulting. "However, insurers face these challenges in a weakened financial position. Rebuilding that financial position, and implementing changes to avoid a repeat of the capital destruction of 2008, will be a key focus for insurers."

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