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I have a business degree and worked for a variable annuity company for several years before I left to help him start our construction business.

Aegon, which earlier this year completed the sale of its Hungarian arm and said it planned to sell its 50% stake in its joint venture with Liberbank, is now exploring a deal to divest its capital-intensive U.S. variable annuity portfolio.

MetLife does not disclose the size of its variable annuity business.

In other words, a high-commission variable annuity is the kind of investment that a fiduciary — someone who puts a client’s interest above their own — might not recommend.

“The inherently unpredictable nature of Jackson’s large variable annuity portfolio isn’t exactly the reliable income model investors generally expect from a life insurer.”