“These findings confirm what I have said before we should continue to see a strong pipeline for our pension risk transfer business.”

In context

“gh-return product categories for the full year. Just after the close of the third quarter we released our 2023 pension risk transfer poll an example of our thought leadership in the space which we have been publishing for the past eight years. The poll which serve plan sponsors with derisking goals revealed several important observations relevant to the growth prospect for the PRT market. Let me offer some examples. Following record PRT sales in 2022, market activity is expected to remain strong for the foreseeable future. Among companies who plan to derisk nine of 10 companies plan to completely divest all their defined benefit pension plan liabilities. And finally, 85% of plan sponsors expressed concern over missing an attractive window to secure an annuity buyout at competitive rates. These findings confirm what I have said before we should continue to see a strong pipeline for our pension risk transfer business. Now shifting over to Asia. Adjusted earnings excluding notable items of $369 million were 23% above a year ago on better variable investment income. Sales in the region on a constant currency basis were up 5% led by life insurance in Japan and Korea. For Latin America, adjusted earnings excluding notable items totaled $199 million. Further Latin America posted healthy 16% gains in both sales and adjusted PFOs on a constant currency basis. Our digital initiatives don't stop at the U.S. border they extend around the world for instance in Latin America we launched a digital platform that seamlessly integrates insurance solutions into the customer journeys of our LatAm business partners, such as banks, financial institutions, retailers and others, which we expect will lead to even more respon”