Lou, what developments are you noticing within the primary life insurance market?

Well, I think there are two main trends going on in the individual life market or the primary life market.

One is direct premium has increased year over year.

Sales remain strong and continue.

Another is mortality rates have been decreasing ever since the COVID-19 pandemic.

Individual rates particularly have been trending downward since then.

There are several emerging trends to think about, and the exact impact is unknown at this point.

Are you noticing any investment trends among life annuity reinsurers?