“So don't use the 1.4 billion in the quarter as a quarterly run rate. And we'll continue to be opportunistic, but deliberate as well when it comes to our activity here.”

In context

“r comment about kind of catching up to back activity in the fourth quarter. But was there anything in the month of April that was sort of precluding you from maybe leaning in a little bit. I don't know if this VA deal was big enough where you were blacked out. But anything going on with the timing there? Michel Khalaf: Yes. Hi, Suneet, Michel here. No, I think we sort of -- April was sort of in line with -- we did what we set out to do, I would say. So there wasn't any impact from any pending announcements or anything like that. As I mentioned in the first quarter we leaned then, given the fact that in the fourth quarter, given some pending announcements there, we were precluded from potentially doing more than we did. But clearly, as I said, you can expect a more measured pace from here. So don't use the 1.4 billion in the quarter as a quarterly run rate. And we'll continue to be opportunistic, but deliberate as well when it comes to our activity here. What I would also reiterate is that nothing changes in how we think about capital. Our first priority is funding attractive organic growth. Next, we will look for strategic inorganic opportunities that are risk-adjusted hurdle rate clearing and I think PineBridge is a good example of that and then if we have excess capital, we will return it deliberately over time as we've consistently done. Suneet Kamath: Okay. That's fine. That makes sense. And then, I guess, for Ramy. Obviously, the PRT sales in the first quarter were pretty strong. But in markets like this where interest rates are moving around and equity markets are swinging around and maybe the funding status of pension plans or swinging around as well. Does that do anything to kind of activity in the market one way or the other? Ju”