Description: U.S. bond markets have undergone dramatic changes due to the 2008 Global Financial Crisis (GFC) and the COVID-19 pandemic. In taking a retrospective view, we can see that bond markets, viewed through the lens of major bond indices, have been evolving for quite some time. Within this paper, TD Asset Management Inc. (TDAM) will explore underlying changes that have occurred within the U.S. Corporate Bond Index, a sub-component of the larger U.S. investment grade bond market, over the past decade. We will highlight key structural changes that have occurred within bond markets and why they are noteworthy

Description: The Society of Actuaries released research in 2007, performed by Jim Toole, that develops a model for a U.S. individual life insurance company to consider its potential liability exposure as a result of a pandemic. Sponsored by the Mortality and Longevity Strategic Research Program Steering Committee, this paper updates several model assumptions including mortality in light of COVID-19.

Description: Presented at Living to 100 symposium, January 2002. This paper presents data on the mortality, and mortality improvement trends, for retired U.S. Civil Service employees and their survivors, and analyzes the relationship to such factors as: Indexed final salary, Amount of indexed annuity, Total service at retirement, Duration on the Annuity Rolls, Retiree vs. beneficiary, Disability vs. non-disability.

Description: An Excel spreadsheet to aid the reader in interpreting the information contained in the report, which provides exposure information by lapse factor and data cell. Please see the SOA website experience studies for the full report.

Description: This session at the SOA 2003 Washington, DC Spring Meeting is a debate on the pros and cons of three alternative reporting methods -Embedded [Economic] Value, Fair Value and U.S. GAAP - as measures of shareholder-value creation and as pricing tools. Each speaker describes his preferred method, emphasizing the uses and advantages of the method, and critiques the other methods.

Description: This is one of eight essays from the collection: 2020 Living to 100 Essays.

Description: The Society of Actuaries released research in 2007 that develops a model for a U.S. individual life insurance company to consider its potential liability exposure as a result of a pandemic. Sponsored by the Mortality and Longevity Strategic Research Program Steering Committee, this paper updates several model assumptions including mortality in light of COVID-19.

Description: Milliman, Inc. Milliman was retained by the Society of Actuaries SOA to perform certain actuarial analyses with respect to the Z-Factor methodology under a principles-based approach PBA to statutory reserve and capital. Under PBA, the Z-Factor is a measure of margin in excess of the best estimate assumptions embedded in the statutory reserves of a life insurance product or block of business.

Description: This article discusses the impact of consolidation in the U.S. life reinsurance

Description: Highlights from the 2002 Inter-Company Expense Study of U.S. Individual Life Insurance and Annuities.