Which types of contracts does ABC insurance company NOT need to file SARs for?

In the context of the Bank Secrecy Act and the requirements for filing Suspicious Activity Reports (SARs), certain types of insurance contracts have different reporting obligations. Group annuity contracts are typically designed for groups, such as employees of a company, and often do not present the same level of risk for money laundering as individual contracts do.

Insurance companies are generally required to file SARs for contracts that involve individual ownership, especially those with cash values or investment features, as these are more susceptible to misuse for laundering illicit funds. Individual annuity contracts, for example, have unique ownership and funding characteristics that make them riskier.

In contrast, group annuity contracts are often handled differently in regulatory terms because the collective nature of the contractual arrangement generally dilutes the risk associated with individual transactions. Since these contracts tend to be less complicated in terms of fund flows and do not typically involve an individual's direct control over large sums of money, they are not as heavily scrutinized. Therefore, ABC insurance company does not need to file SARs specifically for group annuity contracts, making this choice the correct response in the context of this question.