2 unchanged sentences
As a result of that analysis, we have determined that the estimated fair values of certain assets and liabilities are significantly exposed to changes in interest rates, and to a lesser extent, to changes in equity market prices and foreign currency exchange rates.
−Removed: We have exposure to market risk through our insurance and annuity operations and general account investment activities.
+Added: We have exposure to market risk through our insurance operations and general account investment activities.
For purposes of this discussion, “market risk” is defined as changes in estimated fair value resulting from changes in interest rates, equity market prices, credit spreads and foreign currency exchange rates.
We may have additional financial impacts other than changes in estimated fair value, which are beyond the scope of this discussion.
−Removed: A description of our market risk exposures may be found under “Quantitative and Qualitative Disclosures About Market Risk” in our First Quarter Form 10-Q.
−Removed: There have been no material changes to our market risk exposures from the market risk exposures previously disclosed in our First Quarter Form 10-Q with the exception of sensitivity to changes in interest rates.
−Removed: Sensitivity to a 100 basis point rise in interest rates decreased by $978 million, or 18%, to $4.4 billion as of September 30, 2023 from $5.4 billion as of March 31, 2023 primarily as a result of the impact of higher interest rates on the estimated fair value of fixed maturity securities, in line with management expectations.
+Added: A description of our market risk exposures may be found under “Quantitative and Qualitative Disclosures About Market Risk” in our 2023 Annual Report.
+Added: There have been no material changes to our market risk exposures from the market risk exposures previously disclosed in our 2023 Annual Report.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.