Laura Prieskorn: Sure. Yes, that’s a great question and thank you for that. We are really pleased with the momentum that we’ve had with the RILA business and while in terms of account value it is still relatively small at just under $4 billion compared to the size of our variable annuity block. It does have really a good profile in terms of an offsetting risk from an equity perspective in terms of the direction of the risk. So we see benefits already with the — even with the size of our RILA block today in terms of the types of scenarios that would naturally play out into your statutory requirements, particularly when you think about the tail scenarios that drive your CTE 98 requirements, which on a VA only viewpoint are going to be largely significant downward equity stress type paths, which are going to definitely have an economic offset because that’s certainly going to not be the profile of your RILA.
So we’re seeing already benefits within our statutory requirements from the offset, which is both an economic risk offset, but also kind of captured as well in VM 21 that way. But when we just look at the sizing of it and the question around how big, when does it become material, already today with the size of block we have, we’re seeing about a 10% economic offset from our equity risk relative to the VA block, the VA guaranteed business, despite the fact that it is still a relatively small size block. With continued momentum in the rile of blook, we look forward to an increased offset there as well.
Sameer Kumar: Got it. And then if I could just sneak one more and just on your unassigned surplus, I think it was negative in the second quarter. Obviously your stat results in the third quarter were much stronger. So do you have an update on that. And as we think about, kind of, capital return into next year. Should we think about that 450% to 550% is a reasonable starting point?
Laura Prieskorn: No, we’ve talked about the capital return target of 450% to 550% as being a reasonable long-term view, so it’s certainly — starting point. And I think as far as unassigned surplus goes, I mean, we are doing our own modeling and looking forward on that and, you know, I think we believe we’ll be in a position that is not going to be problematic with our ability to support what we need to do to deliver on our capital return targets once we’ve established and communicated them early next year.
Sameer Kumar: Got it. Okay, thank you.
Operator: Thank you. [Operator Instructions] We now have a follow-up question from Tom Gallagher of Evercore ISI. Your line is now open.
Tom Gallagher: Thanks. Just a question on the assumption reviewing Q4. Can you give some sense for how policyholder behavior on your variable annuity block is trending right now? Has that been running above or below long-term expectations? And would you expect any meaningful positive or negative change there? Thanks.
Laura Prieskorn: Yes, thanks, Tom. Yes, as we’ve historically done, we complete our — what we do our annual review process to be completed in the fourth quarter, so that work is underway right now and we’ll be able to provide more specific outcomes of that with our quarter four and full-year results. In terms of the policyholder behavior that we’ve seen, as we move through this year, I think largely we’ve seen policyholder behavior that not too different than what our assumptions would indicate. For example, we’ve seen a little bit of an uptick and I think you can see that in the financial supplement in variable annuity surrenders, but that would be kind of natural with the rebound in the equity markets. That’s naturally part of that dynamic behavior that I think we would typically expect and include in our modeling.
