Description: This paper summarizes default experience on bonds from 1900 through 1987. Although the information is more extensive for publicly traded bonds, the paper includes some information on private placements, some of which is not otherwise available.

Description: Committee members discuss the objectives of COVARA, areas of current research, summary of findings about C-1 Risk, C-2 Risk, C-3 Risk, and Combination of Risks, and future areas of committee interest. From the 1987 Record of Society of Actuaries, Vol. 13, No. 4B.

Description: In this paper, presented at the Eastern Spring Meeting of the Society of Actuaries, held March 24-25, 1960 in Washington, D.C., the author documents the determination of elementary functions and monetary values of the 1941 CSO Mortality Table on an age last birthday basis, noting that until this time the tables had been published only on the basis of age nearest birthday. The impetus of this change was the author’s company, Metropolitan Life, having recently started issuing ordinary life policies on an age last birthday basis, the rational being the use of age nearest birthday had led to policyholder confusion and misunderstanding. Includes discussion. From the 1960 Transactions Vol. 12, No. 33.

Description: This article is about a seminar held on October 30, 1997 to discuss mortality improvement in the NAFTA countries and the impact of such improvements on the financing and benefit adequacy of the countries’ individual social security systems. The gathering of about 80 researchers from a variety of disciplines served as a type of summit meeting on the NAFTA countries’ mortality projections. The seminar was Phase 2 of a three-phase SOA research project, 'Impact of Mortality Improvement on Social Security: Canada, Mexico, and the United States.' The project is intended to provide some guidance for appropriate governmental bodies to use in determining future financing and benefit needs for social security. It is sponsored by the SOA, The Actuarial Foundation [formerly the SOA Foundation], the Retirement Research Foundation, the American Society of Pension Actuaries, the social security administration of each NAFTA country, and the Pension Research Council.

Description: These discussions at the 1967 New York and New Orleans Regional Meetings are a summary of two workshops - Methods of Computing 'Net Cost' for Ordinary Life Insurance and Life and Health Insurance Plans for Groups with Generally Fewer than Twenty Five Lives. There is also a discussion of a proposed SOA constituional amendment related to public expressions of opinion.

Description: This panel at the 1982 Society of Actuaries Colorado Springs Spring Meeting focus on the balancing act between growth and sufficient surplus from both a stock and mutual company perspective.

Description: This document summarizes a meeting of the Reinsurance Section that occurred at the October 1982 Society of Actuaries annual Meeting in Washington D.C. The meeting consisted of a discussion related to the role and purpose of the section, a discussion of problems and pitfalls related to reinsurance treaties, and discussions related to choosing a reinsurer.

Description: This session from the 1983 SOA Spring Meeting discusses reversion rates and mortality on non-reverted lives, mortality experience versus mortality tables, select and ultimate term insurance products and the developing experience for term insurance.

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 paper presents the theory of immunization of investments to changes in interest rates and provides an extensive series of examples and formulas used in its implementation. Also presents some implications for investment behavior, product development, interest assumptions, valuation and adjusted earnings. Discussions of this paper are included.