The incumbents in the Structured Annuity space also have some marked differences in their distribution outlets. Allianz, for example, gets a significant portion of its sales from Wells Fargo, where its offering was on the platform uncontested for a couple of years but is now challenged by Shield and it’s not a stretch to assume that AXA isn’t far behind with a Wells Fargo offering. Similarly, AXA benefits from several exclusive distribution relationships where it may, at some point in the future, face competition. All three carriers are pushing hard to get exclusive distribution at firms that haven’t approved the base product. When you look at firms where all three companies compete on level footing, though, the basic relationship between the three companies tends to hold although with a tighter spread.