Description: This article is based on an excerpt from a Milliman Research Report on universal life insurance with secondary guarantees, ULSG. It discusses stochastic profit analysis and the impact of investment volatility of two common variants of ULSGs - level specified premium and single-fund shadow account designs.

Description: As stochastic modeling has evolved, it has divided down two paths—real-world and risk-neutral. This article discusses this division and shows how these paths may be re-united through the use of deflators.

Description: This research report on the effect of deflation or high inflation has six sections: 1. The first section provides background on inflation, describes some problems in measuring inflation, and explains some of its effects on an economy. 2. The second section reviews historical inflation rates. 3. The third section examines the effect of inflation or deflation on the property-liability and life insurance industries. 4. The fourth section proposes risk mitigation strategies for insurers to cope with either deflation or high inflation rates. 5. The fifth section describes a publicly available model that can be used to develop inflation/deflation projections under a regime switching format that can readily be adjusted to reflect current financial uncertainty. 6. The sixth section provides conclusions.

Description: This paper discusses some of the models used to quantify risk, note some areas where improvements in standard methods are needed, and in some cases suggest alternative approaches for risks in Property and Casualty Insurance and Life Insurance.

Description: Summary of the SOA research project on PBR Simplified Methods. Describes the multi-risk scenario generator, central estimate assumptions, assumption objectivity measures, and regulatory demonstrations per VM-20.

Description: Provides a how-to session on modeling assets and liabilities in the Valuation Actuary's work to comply with the Standard Valuation Law. Comparisons of the methods discussed are occasionally made with the requirements of New York Regulation 126. Session 12 of the 1991 Valuation Actuary Symposium.

Description: This is authors' Fellowship Credit Research Paper. This paper will develop a model for cash flow testing traditional participating insurance that utilizes pricing tools and assumptions to project reserve liabilities. The model makes use of finance and accounting tools to monitor the reasonableness of ending and intermediate surplus results that emerge under the various interest rate scenarios imposed.

Description: Presentation from the 41st Actuarial Research Conference with the main topic of analyzing the life insurance industry.