Description: New Zealand is about to launch its first variable annuity with guaranteed lifetime withdrawal benefits. The product design is mindful of the lessons from the financial crisis in the United States, Europe and Japan.

Description: An article from The Actuary on benchmarking enterprise risk management practices in a derivatives firm. Actuaries can become the future of enterprise risk management by enhancing their unique skill sets with practices adopted from other industries and promoting themselves to firm managers.

Description: This paper sets forth challenges presented by an aging society with a focus on the situation of the individual and the implications for actuaries. From Retirement Needs Framework, M-RS00-1.

Description: Response to Life Insurance 2020 Foresight – A Call for Essays. An essay stating the author’s vision for the future of the life insurance sector.

Description: A new health insurance pricing model takes external market prices into account, as well as regulatory rate restrictions and other traditional pricing factors. Rather than being assumed at the outset, lapse rates emerge from the model, along with assessment spiral & loss ratio projections. Under the model optimal pricing strategy depends on whether the class being rated has a healthier than average mix of risks.

Description: Introduction and table of contents of essay collection.

Description: This paper describes reverse mortgages, a form of home equity conversion specifically suited to older homeowners who need cash from their homes but who still want to live in them. This paper describes the basic characteristics of a reverse mortgage as well as the types of guarantees generally thought necessary for a tenure reverse mortgage to be marketable. These guarantees create five types of risk susceptible to actuarial evaluation. Each risk is identified, and methods of charging for and minimizing these risks are discussed. Special underwriting hazards and the need for asset reserving are reviewed. Examples of pricing and reserving for a reverse mortgage are provided. Careful supervision of reverse mortgage lending by use of actuarial methods is recommended. From Transactions of Society of Actuaries 1992, Vol. 44.

Description: This paper offers a preliminary exploration of the implications of alternative mandatory annuity designs in a privatized Social Security environment. From Retirement Needs Framework, M-RS00-1.

Description: This article discusses scenario generators to price or value insurance products.

Description: Article AERF in The Actuary, May 1979, Volume 13, Number 5