Description: This session from the 1983 SOA Hollywood, Florida Meeting reviews progress reports by the Committee on Valuation and Related Problems. It discusses statutory surplus, the contingency surplus needed for C-1, C-2, C-3 Risks, C-4 Risk and vitality surplus. From Record of Society of Actuaries, Vol. 9, No. 4.

Description: This is a discussion about the problem of overinsurance arising from duplication of coverage. From Transactions of Society of Actuaries 1963, Vol. 15 Pt. 2

Description: This article, from the Interest Sensitive Products Seminar of May 21, 1986, is Appendix 5 of the 1987 Valuation Actuary Handbook. The author provides a reference to educational materials for the valuation actuary, including papers, meeting presentations, committee reports, and study notes.

Description: This is a discussion of the preliminary report of the committee on valuation and related topics. The committee elected to commence its work by examining the fundamental principles of valuation. The traditional issues in the valuation of an insurance enterprise appear within this general framework. The objective of the committee's work is to measure the balance between assets and liabilities in today's volatile economy.

Description: The impetus for this paper is a concern that a unification of pricing, valuation, and management-basis financials may be essential to ensure the viability of life insurance companies in the variable economic environment of the foreseeable future, which will have serious effects on interest-sensitive products. The paper offers hypotheses on which any unification should be based. The proposed unification is structured on an equity capital management approach and on a variation of the level-return-on-equity accounting method. Discussions of this paper are included.

Description: This paper, chapter VI of the 1987 Valuation Actuary Handbook, discusses a framework for the valuation of reserves and surplus in statutory financial statements, first providing a detailed section of definitions to clarify to clarify the terms used in the paper. The “new” environment of volatile interest rates is discussed, and the mathematics underlying ruin probabilities, and combinations of risks. Procedures for different products with different types of risks are discussed. Other topics include coordination of investment policy and product policy, aggregate reserves and surplus needed, use of simplifications, financial planning, and reinsurance.

Description: This paper describes some of the more important actuarial characteristics of the insured variable annuity of the type currently offered by a number of life insurance companies in the United States. From Transactions of Society of Actuaries 1969, Vol. 21, Pt. 1, No. 61.

Description: This is a discussion of the paper, 'Group Annuity Mortality' by Ray M. Peterson, which presents the Group Annuity Table for 1951 with projection factors. The paper is reviewed, an additional projection method is suggested with illustrations, discussion of the difficulties of using projected rates for premiums and reserves, and critiques are provided.

Description: 1962 SOA Regional Meetings, Jacksonville and Chicago. This is a discussion about statutory reporting issues surrounding group term and group accident and health insurance. From Transactions of Society of Actuaries 1962, Vol. 14 Pt. 2.

Description: Presented at October 1985 Annual Meeting. Discusses risk measurement and quantification, cash-flow-based surplus, factors that affect benchmark surplus, how multiple risks can be combined for benchmark surplus, benchmark surplus and the valuation actuary, and uses of benchmark surplus formulas.