Description: Competition for space in distribution channels has resulted in a proliferation of exotic options embedded in variable annuity products. This article discusses how this has created a need which can be addressed, in part, by hedging variable annuity guarantees with long-dated equity derivatives.

Description: This article proposes a new term called the risk surface to enhance risk communications.

Description: This article reviews the topics discussed at the December 2004 meeting of the Life and Health Actuarial task force. The covered topics include Actuarial Guideline 38 and Reserves for Variable Annuities C-3 Phase 2 reserves.

Description: Update on statutory Valuation reserves and required surplus for variable annuities with living benefit guarantees

Description: Description of the increased gamma of the liabilities of a portfolio of variable annuities. Discussion of the sensitivity of gamma due to changes in policyholder behavior.

Description: Discussion of three aspects of GMDB— the retail product, the reinsurance players and the reinsurance techniques.

Description: The article discusses PLR 201632004, which addresses the partial annuitization rules of IRC section 72(a)(2) in the context of a deferred income annuity rider attached to a variable deferred annuity contract.

Description: This article summarizes the results of the survey covering industry practices relating to the valuation of variable annuities under FAS 133/157 including implied volatility parameters used in the FAS 133/157 liability scenario generator, non-performance risk and liquidity premium adjustments to discount rates, as well as the determination of risk margins.

Description: A methodology for calculating risk margins related to policyholder behavior risks for guaranteed living benefits on variable annuities when measuring fair value under FAS 157.

Description: The article considers how actuaries have responded to long term changes in the past and considers how to deal with two changes ion the future: pension provision when bond yields are low and long term care.