Description: The purpose of this discussion is to introduce a few additional points and discuss how different assumptions will alter the results in some cases.

Description: New Zealand is about to launch its first variable annuity with guaranteed lifetime withdrawal benefits. The product design is mindful of the lessons from the financial crisis in the United States, Europe and Japan.

Description: Modeling experience sharing by David Yu who leads the retirement product and asset model development team within Prudential Financial

Description: Discussion of topics addressed at pricing methodologies seminar,including a review of the results of the Tillinghast Pricing Methodology Survey. This survey covers the most popular profit measures for various companies within various product lines. The concept of market consistent embedded value was also discussed, as well as a review of pricing indexed products. Finally, there were case studies presented on pricing Universal Life with Secondary Guarantees, Return of Premium Term and Variable Annuities with Living Benefits

Description: Summary of Part II of the survey of Appointed Actuaries, sponsored by the American Academy of Actuaries Committee on Life Insurance Financia1 Reporting and the Society of Actuaries Financial Reporting Section, which asked appointed actuary various questions on methodology and assumptions employed for asset adequacy testing.

Description: Six years after the global financial crisis, the reshaped contours of the market for the life insurance industry are coming into focus.

Description: Contains two separate articles, called notes. The first note, “A note on correlation in mean variance portfolio theory,” is an elementary discussion of how negative correlation coefficients can be, given any set of N random variables. The second note, “Two essential formulas in actuarial science and financial mathematics,” gives a more or less self-contained introduction to Jensen’s inequality and to another formula, which the author decided to call the “survival function expectation formula.”

Description: The Delphi method was applied to several questions regarding trends in product development. The audience participated in the Delphi survey to predict how economic and demographic factors will impact pricing over the next 7 years.