Description: A review of recent trends in immediate non-refund annuity mortality and a presentation of a modification of the a-1949 Table with Projection Scale B which reflects these recent mortality trends. Followed by several discussion papers submitted

Description: Slides from a session at a meeting of the Society of Actuaries held in San Diego, CA, June 22-23, 2000 Panelists build on the paper by Luke N. Girard, Market Value of Insurance Liabilities: Reconciling the Actuarial Appraisal and Option-Pricing Methods, that combines, in one framework, the traditional actuarial appraisal method and option-pricing method.

Description: This panel discussed studies of the risk of loss due to changes in the interest rate environment. It addressed why the C-3 risk is important and how inflation and stability in interest rates can affect the financial soundness of life insurance companies. There was also a discussion of the theoretical work being carried out to calibrate the C-3 risk of variation in interest rates and to what extent the valuation actuary can properly recognize the risk of loss from changes in the interest rate environment within the framework of valuations laws and regulations.

Description: Article explores two very different approaches that are currently being considered for use in projecting credited rates on interest sensitive products and show how they can be reconciled with one another.

Description: U.K. life insurers writing participating business have, since the end of 2004, been required by their regulator, the Financial Services Authority FSA, to value their assets and liabilities on a market-consistent basis. The purpose of this paper is to explain the new valuation approach based on market-consistent values and its rationale set out the issues faced by life insurers in implementing the new regime and explain how these issues have been addressed by insurers.

Description: Discussion of competing theories for valuing public pension liabilities. Emphasis on revised Actuarial Standards of Practice that focus on the purpose of the measurement.

Description: This article addresses the scope of reserve valuation rules that compute or estimate reserves “on the basis of recognized mortality or morbidity tables, and assumed rates of interest.”

Description: These are submitted discussion papers on the paper, 'Annuity Mortality' by Walter G. Bowerman.

Description: Introducing tools to help actuaries explain non-traditional DAC and SOP reserve movements no non-actuarial audiences.

Description: Table of Contents for 1952 Reports of Mortality and Morbidity Experience