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The Reality of Life & Annuity Filings

Over the past decade, the U.S. life and annuity industry has undergone a quiet, structural transformation. Carriers have increasingly shifted reserve liabilities into affiliated and
offshore reinsurers, swapped liquid corporate bonds for complex asset-backed structures and private credit, and invested surplus capital back into their own affiliates.

Every single one of these moves is disclosed across statutory schedules, footnotes, and exhibits spanning hundreds, and sometimes thousands of pages per carrier.

Nobody placing an annuity or advising a client on long-term financial security has the time to read thousands of pages of statutory filings.

We do it for you. Each DDA report compresses a carrier's year-end statutory filing into a direct, two-page analysis revealing:

• What it holds: Concentration in illiquid, private credit, or structured assets.
• What it owes: Total policy liabilities and deposit-type contract obligations.
• Offshore exposure: How much risk sits with secret or affiliated captives.
• The true cushion: How thin the surplus margin really is when accounting gimmicks are removed. 

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Designed for RIAs, broker-dealers, investors, and compliance teams requiring firm-wide due diligence and carrier risk monitoring.