years .the company does not yet have a robust set of annuitization experience because most of its clients 2019 policyholders are not yet eligible to annuitize utilizing the gmib .however , for certain clients there are several years of annuitization experience 2013 for those clients the annuitization function reflects the actual experience and has a maximum annuitization rate per annum of 8 percent ( a higher maximum applies in the first year a policy is eligible to annuitize utilizing the gmib 2013 it is over 13 percent ) .for most clients there is no currently observable relevant annuitization behavior data and so we use a weighted aver- age ( with a heavier weighting on the observed experience noted previously ) of three different annuitization functions with maximum annuitization rates per annum of 8 percent , 12 percent , and 30 percent , respectively ( with significantly higher rates in the first year a policy is eligible to annuitize utilizing the gmib ) .as noted elsewhere , our gmib reinsurance treaties include claim limits to protect ace in the event that actual annuitization behavior is significantly higher than expected .during 2010 , the company made various changes to assumptions ( primarily annuitization and lapse ) and methods used to calculate the fair value .the changes had a net effect of reducing fair value of the liability by $ 98 million ( where the dollar impact of each change was measured in the quarter in which the change was implemented ) .during 2010 , we recorded realized losses of $ 64 million primarily due to increasing net fair value of reported glb reinsurance liabilities resulting substantially from the impact of falling interest rates .this excludes realized losses of $ 150 mil- lion during 2010 on derivative hedge instruments held to partially offset the risk in the va guarantee reinsurance portfolio .these derivatives do not receive hedge accounting treatment .refer to 201cnet realized gains ( losses ) 201d for a breakdown of the realized gains on glb reinsurance and the realized losses on the derivatives for 2010 and 2009 .ace tempest life re employs a strategy to manage the financial market and policyholder behavior risks embedded in the reinsurance of va guarantees .risk management begins with underwriting a prospective client and guarantee design , with particular focus on protecting ace 2019s position from policyholder options that , because of anti-selective behavior , could adversely impact our obligation .a second layer of risk management is the structure of the reinsurance contracts .all va guarantee reinsurance contracts include some form of annual or aggregate claim limit ( s ) .the exact limits vary by contract , but some examples of typical con- tract provisions include : 2022 annual claim limits , as a percentage of reinsured account or guaranteed value , for gmdbs and gmibs ; 2022 annual annuitization rate limits , as a percentage of annuitization eligible account or guaranteed value , for gmibs ; and 2022 per policy claim limits , as a percentage of guaranteed value , for gmabs .a third layer of risk management is the hedging strategy which is focused on mitigating long-term economic losses at a portfolio level .ace tempest life re owned financial market instruments as part of the hedging strategy with a fair value of $ 21 million and $ 47 million at december 31 , 2010 , and 2009 , respectively .the instruments are substantially collateralized by our counterparties , on a daily basis .we also limit the aggregate amount of variable annuity reinsurance guarantee risk we are willing to assume .the last substantive u.s .transaction was quoted in mid-2007 and the last transaction in japan was quoted in late 2007 .the aggregate number of policyholders is currently decreasing through policyholder withdrawals and deaths at a rate of 5-10 per- cent annually .note that glb claims cannot occur for any reinsured policy until it has reached the end of its 201cwaiting period 201d .the vast majority of policies we reinsure reach the end of their 201cwaiting periods 201d in 2013 or later , as shown in the table below .year of first payment eligibility percent of living benefit account values .
[['year of first payment eligibility', 'percent ofliving benefitaccount values'], ['2010 and prior', '1% ( 1 % )'], ['2011', '0% ( 0 % )'], ['2012', '7% ( 7 % )'], ['2013', '24% ( 24 % )'], ['2014', '19% ( 19 % )'], ['2015', '5% ( 5 % )'], ['2016', '6% ( 6 % )'], ['2017', '18% ( 18 % )'], ['2018 and after', '20% ( 20 % )'], ['total', '100% ( 100 % )']]
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Question: what is the percent change in the fair value financial market instruments as part of the hedging strategy during 2010 compare to 2009?
Answer: -55.3%