CEIOPS have published a draft report on the variable annuities consultation.
“The draft report illustrates the works of Task Force on Variable Annuities (TF), set up by CEIOPS in March 2010 with the aim of establishing common EU guidelines for the supervision on insurers selling VAs…
…Variable annuities (VAs) are unit-linked life insurance contracts with investment guarantees which, in exchange for single or regular premiums, allow the policyholder to benefit from the upside of the unit without losing out when the unit loses value.”
Deadline for comments to CEIOPS is 25 January 2011.
To view the full text of the draft report, follow this link to the CEIOPS website:
Consultation paper no. 82 – CP no. 83 – Draft report on variable annuities
https://www.ceiops.eu/fileadmin/tx_dam/files/consultations/consultationpapers/CP%20No.%2083%20-%20Draft%20Report%20on%20Variable%20Annuities.pdf
