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Stock impact report

Venerable Novates Initial Block of Variable Annuities from Equitable [Yahoo! Finance]

Equitable Holdings, Inc. (EQH) 
Last equitable holdings, inc. earnings: 2/26 04:15 pm Check Earnings Report
Company Research Source: Yahoo! Finance
block of novated variable annuity contracts from Equitable Financial Life Insurance Company ("Equitable") to the Venerable administrative platform. The novated legacy block includes deferred and payout annuities from Equitable's Accumulator® Series 06, 07, and 8.1 contracts reinsured by Venerable. i This strategic initiative, facilitated by the initial engagement between Venerable and Equitable announced in 2020, establishes first-of-its-kind industry capabilities at Venerable and supports the firm's long-term strategic growth aspirations. "In taking ownership of this initial wave of novated contracts, our team has achieved what no other variable annuity company has – the complete transfer of risk on a reinsured variable annuity block," said David M Read more
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