Needed to strengthen cash flow matching across the portfolio of assets and product liabilities. Traditionally, insurance companies remain passive on arranging liability cash flows to meet asset cash flow needs.

Analyzed the issues related to marketing fixed-annuity products and used the unique characteristics of the funding agreement note issuance program to issue liabilities in places in which excess cash flows existed. This approach applied proceeds to meet cash flow needs in which liability cash flows outpaced asset cash flows.

This led to the elimination of more than $3 billion in cash flow mismatches and enhanced overall asset liability management.