Description: The values of life insurance and annuity liabilities move in opposite directions in response to a change in the underlying mortality. Natural hedging utilizes this to stabilize aggregate liability cash flows. Our study shows empirical evidence that insurers who utilize natural hedging also charge lower premiums than otherwise similar insurers. This indicates that insurers who are able to utilize natural hedging have a competitive advantage. In addition, we show how a mortality swap might be used to provide the benefits of natural hedging to a firm that writes only one of the lines of business.

Description: Using the Cox proportional Hazards Model to improve underwriting debits and credits.

Description: This paper, presented by Gordon J. Munro at the Eastern Spring Meeting of the Society of Actuaries, held March 24-25, 1960 in Washington, D.C., determines monetary functions of group annuity mortality based on the Ga-1951 Male Table, projected to 1960 by Projection Scale C. Includes discussion and errata sheet. From 1960 Transactions Vol. 12, No. 33.

Description: An experience study of individual payout annuities covering calendar years 2009 through 2013.

Description: A report on the results of the latest intercompany study of mortality experience under structured settlement annuities for the exposure years 2009-13.

Description: Report on survey designed to get feedback on underwriting guidelines, requirements, assumptions and practices used in assessment of older age applicants.

Description: Report to explain the uses and limitations of the underwriting criteria score calculator

Description: This report covers some additional analysis of the data used to create the 2015 Valuation Basic Tables.

Description: A report on the results of the latest intercompany study of mortality experience under structured settlement annuities for the exposure years 2009-13.

Description: There are three commonly used methods for compiling exposure and death data for use in obtaining crude mortality rates. They are lives, policies and amounts of insurance. This paper investigates the properties of estimators based on lives, amounts and robust alternatives. It is concluded that lives provide the best estimator, even when there is a moderate dependence of mortality rates on amounts of insurance. Presented at the Fourteenth Actuarial Research Conference, lowa City, lowa, September 6, 1979.