Connecticut regulator rejects VA criticism


Connecticut insurance commissioner Thomas Sullivan has rejected calls for variable annuity (VA) guarantees to be accounted and regulated as financial options consistent with those in the derivatives market, and said he was "satisfied" with the performance of supervised companies under the existing regime, which he had no plans to change.

This was despite The Hartford, a Connecticut-based insurer, posting a quarterly loss of $1.2 billion (£730 million) in the first quarter of 2009, after an

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