Sep 10, 2021 / 01:40PM GMT
Ryan Joel Krueger - Keefe, Bruyette, & Woods, Inc., Research Division - MD of Equity Research
Good morning, everyone. I'm Ryan Krueger from KBW, and pleased to be joined by Robin Raju, who is the CFO of Equitable. Thanks for joining me, Robin.
Robin Matthew Raju - Equitable Holdings, Inc. - Senior EVP & CFO
Thank you, Ryan. Thanks for having me.
Questions and Answers:
Ryan Joel Krueger - Keefe, Bruyette, & Woods, Inc., Research Division - MD of Equity ResearchI wanted to kick it off with discussing New York's Reg 213 since that's been such a hot topic lately for you. As a starting point, can you just discuss how Reg 213 differs from the NAIC variable annuity rules? And give some perspective on why it's causing noneconomic reserves for Equitable?
Robin Matthew Raju - Equitable Holdings, Inc. - Senior EVP & CFO
Sure. Thanks. First, I'd say as a reminder, Equitable manages its business on an economic basis, which really just means we manage on fair value