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Milliman Annuity Market Update, 4th quarter 2025

ByDavid Wang
17 April 2026

Milliman has prepared an annuity market update for Q4 2025 which provides updates on the market for the U.S., Japan, Hong Kong, Taiwan, and Thailand. This quarter's featured article provides seven considerations for annuity writers pricing in a VM-22 PBR world.


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David Wang

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