An annuity paying a higher crediting rate looks better. But there is no magic in insurance. If one insurance company can consistently credit more than another, somebody should ask: Where does the extra spread come from? Increasingly, the answer is: Private credit. Structured credit. More aggressive asset management. Reinsurance. Bermuda and Cayman. And sometimes a … Continue reading New York vs. Iowa Annuities: Where Does the Extra Spread Come From?