Description: The first of two parts of a panel discussion, by conference call, on the the evolution of Enterprise Risk Management at life insurance companies, and actuaries' roles in that evolution.

Description: Discusses key issues to improve the retirement system in the U.S. in a primarily defined contribution environment. Focuses on age at retirement, how people retire, and covering risks including disability and longevity risk. Some ideas are feasible within current environment and some require policy change.

Description: A convergence of forces has obsolesced virtually every element of the traditional paradigm of the U.S. life insurance business - the products sold, who sells them, and how they are sold. This article documents the decline in life insurance ownership and sales, and emerging trends - with the market being bifurcated into service intensive vs. commodity.

Description: The Bermuda International Life and Annuity Conference highlights Bermuda’s enhanced capital and solvency framework, and growing long-term (re)insurance sector.

Description: A review of product and sales trends for variable, indexed and fixed annuities against the current backdrop of low interest rates and record equity market valuations

Description: Presented at October 1996 Annual Meeting. The panelists in this interactive session not only discuss the newest annuity features, but also explore some socioeconomic trends and how an annuity could be designed to capitalize on those trends.

Description: Discussion of managing the organizational changes into the 21st century Includes the following topic: 1. Consolidation 2.Business moving out of the U.S. and Canada 3. Managing the remainder of the business 4. Outsourcing 5. Lean staff 6. Joint ventures 7. Downsizing 8. Product focusing.

Description: A 2015 Society of Actuaries Report (co-sponsored by the Reinsurance Section, Product Development Section, and Committee on Life Insurance Research) entitled “Life and Annuity Living Benefit Riders: Considerations for Insurers and Reinsurers,” is available on the Society of Actuaries website (www.soa.org). It covers a wide range of living benefit riders with medically-related triggers on life or annuity products. This article is largely derived from that report, covering several of those riders. In order to add to the marketing implications of these plans, Claude Thau, in his capacity as President of Thau, Inc. has provided additional commentary from the perspective of a marketer who is active in this field.

Description: Financial Reporting Section Council Update

Description: This paper illustrates the application of stochastic control methods in managing the risk associated with an insurance business. We present the Hamilton-Jacobi-Bellman HJB equation and demonstrate its use in finding the optimal investment strategy based on some given criteria. Here we consider an insurance business with a fixed amount available for investment in a portfolio consisting of one non-risky asset and one risky asset. The object of the resulting control problem is to determine the investment strategy that minimizes infinite time ruin probability. The existence of a solution to the resulting HJB equation is shown. The relevant verification lemma is not presented in this paper and a numerical algorithm is given instead. Examples applied to exponential claims are also presented.