Description: The manner in which the actuarial profession models and manages mortality risk is undergoing dramatic changes. New modeling techniques have led to better risk management tools. Capital markets solutions are evolving for insurers wishing to protect against unfavorable mortality developments in both life insurance and annuity products. In this session recent key developments in mortality modeling and in the transfer of mortality risk are examined. From Record of Society of Actuaries, Vol. 30, No. 3: Annual Meeting and Exhibit, New York, NY, October 24-27, 2004, Session 133 TS.

Description: This paper reports on a detailed statistical analysis of mortality improvement for the Canadian population and for the Canadian insured lives. It considers mortality improvement in the context of life insurance -as opposed to annuities - where any allowance for improvement represents a less prudent approach than assuming current mortality rates continue.