Description: This report, part of the Society of Actuaries [SOA] ‘Experience Studies – Business Practice Surveys,’ presents the results of the survey on Life Settlements, prepared by the SOA Committee on Life Insurance Mortality and Underwriting Surveys Life Settlements Survey Subcommittee. The responses from two separate surveys, one to direct writers and the other to reinsurers, have been combined into this single report. Survey question topics include company characteristics, market participation, market management, and consequences to the Industry.

Description: We derive formulas for calculating the premiums that should be charged on policies in a discounted cash flow model with tax reserves and required assets that are determined by regulation. We also determine the unique division of required assets into “reserves” and “capital” that allows the product profitability to be correctly evaluated. That is, the profit after capital charges is zero if the product achieves the return assumed in pricing. We illustrate the concepts using whole life insurance and guaranteed minimum death benefit examples.

Description: This Report presents the results of a three-year study on Demutualization by a Task Force of the Society of Actuaries. From Transactions of Society of Actuaries 1987, Vol. 39.

Description: This paper develops a theory for the valuation of some kinds of interest sensitive cash flows. A process is derived which takes as input, assumptions about the capital markets and policy holder behaviour, and produces as output interest and decrement assumptions which can be used for conventional actuarial discounting. The methodology is illustrated using some idealized, but tractable, models of conventional non-par whole life insurance. The method is also applied to a simple Universal Life plan. The paper concludes by considering some of the problems encountered when applying the ideas to more practical problems.

Description: Compilation of the answers gathered through the survey, Will Retirement Assets Last a Lifetime?

Description: This session at the SOA 2004 Annual Meeting looks at current underwriting issues including the tools underwriters now use for appraising risk in various markets, the impact of preferred exceptions and business decisions from a pricing and claims perspective, and new ideas for assessing risk at older ages.

Description: Presented at October 1996 Annual Meeting. This session presents and discusses the NAIC's model bill for risk-based capital as it relates to health insurance.

Description: Table of contents for The Actuary Magazine - December 2004

Description: This research report on retirement risks and solutions for the middle market was presented in a webcast by the Retirement Income Industry Association. The market was identified, profiled and risk assessed. Then the needs and challenges were assessed and solutions were were offered.

Description: Historically, male mortality rates were below those of females. However, that trend has been reversed within the last 100 to 150 years, causing revolutionary changes in the role of women. This subject was examined in a paper on “Mortality Trends of Males and Females Over the Ages” by Barnet N. Berin, George J. Stolnitz and Aaron Tenenbein, presented at the Centennial meeting.