“We did one transaction this quarter for $1.3 billion and we still see a very robust pipeline in front of us as we look towards the rest of the year.”

In context

“ne. The two aspects of our philosophy, which I would like to reiterate here and highlight one is that, this is a business where we continue to exercise pricing discipline, and I would say in aggregate, our capital deployment in the business is in line with our enterprise ROE targets and it’s also accretive to the in-force annuity spreads. The second one, which you have heard us talk about before is that, we are focused on the large and jumbo end of the market. There are fewer players there and the deals tend to play to our competitive strengths in terms of size and rating, our balance sheet and the investment capabilities. In terms of the outlook, as you know, we have a very strong quarter in 2021. The fourth quarter of 2021, we ended with five transaction that were total of $3.6 billion. We did one transaction this quarter for $1.3 billion and we still see a very robust pipeline in front of us as we look towards the rest of the year. In terms of the segments we play in that jumbo segment. Many of these plans have been on a multiyear derisking journey, so they don’t kind of turn on a dime, if you will, in terms of making that decision. So a lot of those kinds of asset allocations have been pre-positioned, and therefore, that jumbo end, it doesn’t tend to be as sensitive to equity market volatility. But having said that, clearly, the overall market, as it stands today stands at a very high funding levels and that bodes well for the overall pipeline as well. Jimmy Bhullar: Okay. Thanks. And then on your Latin American sales, they were pretty strong across every single major market. To what extent is that a function of the pandemic receding versus just anything that you have done on the product or distribution side. Eric”