“I wouldn't sort of consider January as monthly run rate for the full year, but we're going to continue to be opportunistic here.”

In context

“the question. So we talked about the reinsurance transaction as providing us with significant financial flexibility. And as you heard from John, our RBC ratio is approximately 400%. And I would just note here that the 5.2 Holdco cash does not yet include any of the reinsurance proceeds. So the excess capital is sitting in our statutory entities and it will ultimately migrate to the Holdco. We view excess capital as fungible and we will redeploy it over time. And in the absence of attractive organic or inorganic growth opportunities as I think we've built a good track record in terms of being deliberate and expeditious, post major divestitures and how we return capital to shareholders. And as you've seen since we closed on the transaction, we've leaned into buybacks especially in January. I wouldn't sort of consider January as monthly run rate for the full year, but we're going to continue to be opportunistic here. Hope that helps. John McCallion: And I would just add Elyse, I mean, just too kind of put a finer point on just the financial flexibility and the fungibility of that, I mean, we might, because we have excess capital at the OpCo, we might think differently at the Holdco, it'll depend, right? I mean, I don't think we have to necessarily have it all at the Holdco. We have a range of 3 to 4. It might give us some ability to manage more differently within that range because we have access at the OpCos, I think we just want to, I think the flexibility is the key point. Elyse Greenspan: Thank you. Operator: Next we go to the line of Alex Scott with Goldman Sachs. Please go ahead. Alex Scott: Hi, good morning. First, what I have for you is just going back to the VII guide quickly. Could you frame”