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 AERF in The Actuary, May 1979, Volume 13, Number 5

Description: To be financially "well" is unique to an individual. Following a hierarchy of needs is key, along with saving more than the talking heads tell you to.

Description: Introduction to option pricing, with special attention to issues in applying these tools to price equity-linked insurance products. Clear, accessible explanation of key results of mathematical finance including risk-neutral valuation.

Description: From a session at the 2001 Valuation Actuary Symposium, held in Lake Buena Vista, Florida, November 29-30, 2001 Panel discussion overview of current risk-based capital RBC requirements of life insurers, as well as insight into topical issues and potential changes to RBC. Items covered include: • Recap of RBC law and RBC calculation rules • Tax impact on the factors • Common stock issue • C-3 testing • Proposed C-3 testing for Variable Annuity Guaranteed Living Benefits VAGLB • Liquidity risk issue

Description: Read the March 2017 issue of Small Talk published by Smaller Insurance Company Section. Practical information on trends that impact sections and activities.

Description: Introduction to option pricing using Black-Scholes. Discussion on the limitations of Black-Scholes and of its alternatives such as Heston. Clear, accessible explanation of key results of mathematical finance including risk-neutral valuation.

Description: Read the December 2018 issue of Small Talk published by Smaller Insurance Company Section. Practical information on trends that impact sections and activities.

Description: Read the Sept. 2017 issue of Small Talk published by Smaller Insurance Company Section. Practical information on trends that impact sections and activities.

Description: The costly, time-consuming and complicated process of enterprise risk management (ERM) can be improved in many companies and made less tedious for managers by using reasonable data and templates obtained from peer group entities. The models used to calculate economic capital (EC) often underestimate its value because they do not consider decision-maker perception about risk. We assume here that managers, as the decision-makers, have appropriate business understanding and they can provide substantial information about risk characteristics regarding all business processes. Therefore we are focused, in this paper, on collecting data from managers across the different businesses to derive the appropriate knowledge about risky events, the importance of particular types of risk, the relationship between the risk outcomes and the level of risk control in a particular industry. We conclude that the collected data has a high potential for use as a benc hmarking reference and analysis for improving ERM models for individual businesses.