Description: This session discussion is about tools, techniques, and methods used by the health valuation actuary HVA in dealing with business projections, cash-flow analysis, valuation on nonguaranteed premium business, target surplus analysis, reinsurance and claim reserves. From Record of Society of Actuaries Vol. 18, No. 1A.

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: Article Society Seminars by Adams in The Actuary, February 1979, Volume 13, Number 2

Description: The purpose of the article is to summarize the results and conclusions of the C-1 Risk Task Force Report prepared for the Committee on Valuation and Related Areas. A key question: Is the risk to insurance companies of defaults on junk bonds sufficient to justify increasing required surplus levels?

Description: Discussion of interest rates and investments. The forum looked at the outlook for interest rates on life insurance funds, new developments for the investment of life insurance funds, common stock investments, inflation, and the nature and extent of the valuation problem created by direct investment private placement.

Description: This report examines the subprime mortgage crisis and related financial consequences from the perspective of the insurance company.

Description: In this paper, chapter V of the 1987 Valuation Actuary Handbook, the authors start with a discussion of how the recent economic environment with volatile interest rates has changed the valuation and surplus management process to one more dependent on actuarial judgment. In a discussion of surplus policy, the authors identify four “layers” of surplus which have been identified by scenario testing. These surplus layers, along with policy reserves, are based on specific invested assets. The paper discusses implications for the future and notes the actuary’s ability to advise management on surplus adequacy is a basic tool of risk management.

Description: This paper suggests the reasons why an actuary should play a role in the over-all investment policy of a 'new' company, defined as less than 5 years old, and what some of those duties should be. The paper gives an overview of the types of investments available to an insurance company and the considerations for each relative to a new company.

Description: This panel discussion presented at the April 1976 SOA meeting in Washington D.C. presents opinions and information related to investment policy in a changing economy.

Description: This session from the 1981 SOA Spring Meeting concerns the relationship of product design and investment philosophy in light of the high interest rate environment and increased lapsation. Topics discussed were changes in the maturity of debt instruments, how withdrawals provisions affect product pricing, allocating specific classes of assets to product lines and surplus objectives resulting from the matching of assets and liabilities. From Record of Society of Actuaries, Vol. 7, No. 3.