Description: Article from The Actuary, September 1989 – Volume 23, No. 8 describing the impact of the Cowell/Hoskins report and the subsequent Report of the Society of Actuaries Task Force on AIDS.

Description: This paper proposes using a classic actuarial framework of frequency and severity, modified to address the unique challenge of XPL.

Description: This article will clarify valuation issues for the waiver of premium benefit in Accident and Health products.

Description: Discount rate curve construction has been a topic of renewed interest following recent changes in financial reporting standards. Interpolation is a key component of curve construction and can be conducted via an assortment of methods. This article explores six popular interpolation techniques and assesses how they perform with regards to desirable features of such methods: continuity of forwards, stability and locality, simplicity, and market consistency.

Description: After more than a decade of a prolonged low interest rate environment, long-term Treasury rates have started to increase with higher volatility. While it is generally agreed that a modest increase in interest rates and inflation is beneficial to the life insurance industry, interest rate risk remains a significant challenge for life insurance industry to manage its long duration liabilities, especially under volatile interest rate environments. Learn how to proactively manage interest rate risk and improve capital efficiency through the cash flow based strategic asset allocation (SAA) framework. Discover practical examples of how to combine asset allocation with derivatives to manage tail risk and liability convexity.

Description: This presentation explores the applicability of multiple population versions of the Lee-Carter model in the modelling of mortality by cause of death and socio-economic stratification.

Description: This abstract describes a paper that produces a high-resolution, 100-member simulation of surface atmospheric temperature over North America for 1979–2015.

Description: An update on the Modeling section activities and a look back at the five years since inception

Description: As the Valuation Manual continues to evolve and PBR standards for additional products are drafted and incorporated, it will become increasingly important for companies to understand how the requirements are consistent across products, as well as how they differ. The presenters will scan the life (VM-20) and annuity (VM-21, VM-22) PBR standards across the Valuation Manual to compare and contrast key requirements. Attendees will learn where common methods and techniques can be used across products and platforms.

Description: This report explores estimation of employee stock options exercise behavior and option cost to firms.