Description: This is a report on the PBITT Working Group's fourth survey to gather the assumptions actuaries use in pricing, reserving, and risk management of minimum guarantees on Variable Annuity products, such as death benefits, income benefits, withdrawal benefits and maturity benefits.

Description: The Joint Risk Management Section is trying to develop better estimates of policyholder behavior in the tail [PBITT]. The mission of the PBITT working group is to examine and ultimately give guidance to actuaries on how to set policyholder assumptions in extreme scenarios. As part of its work, the PBITT working group issued its sixth survey to gather the range of assumptions actuaries use in pricing, reserving, and risk management of minimum guarantees on Variable Annuity products, such as death benefits, income benefits, withdrawal benefits and maturity benefits. This document contains the results of that survey.

Description: This report provides the results of a VA survey on policyholder behavior in the tail on VA products containing guaranteed minimum benefits.

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: The objective of this paper is to analyze the nature of the probability density function of rates of return on common stocks, to develop a simulation model for evaluating the net risk premium for an asset value guarantee at the end of a specified investment period under an equity-based product and to analyze the sensitivity of the net risk premium to changes in several underlying parameters. From Transactions of Society of Actuaries 1969, Vol. 21, Pt. 1, No. 61.

Description: Highlights of the results of a Milliman survey of the 2004-2009 historical pattern of sales of annuity products with guaranteed living benefits

Description: This is a discussion about equity-oriented product and mutual fund operations. From Transactions of Society of Actuaries 1969, Vol. 21, Pt. 2, No. 59AB

Description: This panel discussion reviews various viewpoints, actuary's, agent's, and regulator's views on equity products. From Transactions of Society of Actuaries 1969, Vol. 20, Pt. 2, No. 60.

Description: This presentation provided an analysis of investment guarantees in equity-linked products. There was an overview of the data and models in use. In addition an actuarial approach to left-tail analysis was presented as well as a dynamic hedging approach. From Actuarial Research Clearing House, 2012, Vol. 1.

Description: This document requests intents to participate and provides data submission instructions for the 2008 to 2013 Canadian Segregated Fund Policyholder Behavior Experience Study.