Description: This session at the 1997 Valuation Actuary Symposium focuses on modeling issues for variable annuities from both a statutory and GAAP standpoint. Valuation actuary issues with respect to variable annuity modeling is also discussed.

Description: 2003 Valuation Actuary Symposium, San Diego, CA. This session provided an update on the current status of the actuarial guidelines on VA death and living benefits, the Academy's work on a non-formulaic, RBC standard and GAAP developments.

Description: 2003 Valuation Actuary Symposium, San Diego, CA. This session provided an overview of current statutory valuation issues pertaining to life and annuity products. Topics included: 1. Actuarial opinion and memorandum regulation amendments. 2. Progress on variable products reserving standards. 3. Regulation XXX mortality factors. 4. Adoption of the 2001 CSO. 5. Progress on the C-3 Phase II RBC project. 6. An update on annuity and life nonforfeiture.

Description: Starting with a review of recent VA and FIA industry policyholder behavior experience, this session will explore several critical elements in developing a sustainable and coherent framework to translate this complex experience data to assumption models, particularly for guarantee features such as GLWBs. The discussion will include the use of industry- and company-level data in building customized predictive models, and integrating models across behaviors such as income utilization and surrenders.

Description: Reinsurance has been available for VA Guarantees for over 20 years. During that time, the reinsurance market for VA Guarantees has undergone frequent and sometimes violent transformations. Where does the market stand today? What forms and structures of reinsurance are available? Which VA Guarantee designs and features are easier to reinsure? Is reinsurance offered on both newly issued policies as well as in force/legacy books, and which vintages are difficult to reinsure? In an age of sophisticated hedging programs, what role does a reinsurer play in helping a VA writer manage this highly volatile risk? In this session, we will hear from a reinsurer that is actively writing new VA Guarantee reinsurance treaties in the U.S. and around the world, and from a VA writer that has successfully partnered with a reinsurer to enhance its VA product offering.

Description: 1994 SOA Meeting, San Francisco. This session discussed variable annuities and how direct companies use reinsurance to mitigate death and investment risk. Variable annuities and the enhanced death benefit were addressed from the direct and reinsurance sides.

Description: Panelists discuss the risks inherent in common variable and equity-indexed annuity designs, including Guaranteed Minimum Death Benefits [GMDBs]. The effects of changes in interest rates, market level, and implied and actual volatility on economic and accounting results, as well as reinsurance and various kinds of hedging, are discussed. From the 2002 Record of Society of Actuaries, Volume 28, No. 3. Session 121PD of the Boston Annual Meeting.

Description: 2004 SOA Annual Meeting and Exhibit, New York. This discussion looked at individual life insurance and annuity products and the risks these guarantees carry, such as: 1. Extended maturity benefits. 2. Secondary guarantees. 3. Guaranteed insurability. 4. Guaranteed minimum living and death benefits in VA.

Description: The presentation will outline the different possibilities insurance companies have to hedge their equity risk for the various products.

Description: Panelists [1] provide a market update on variable universal life [VUL] and single-premium variable life insurance [SPVLI], and also discuss: [2] new variable-product designs and features, [3] reserves being held for back-loaded variable products, [4] fixed-rate and real-estate investment options, and [5] guaranteed minimum death benefits [GMDBs] under SPVLI policies and single-premium variable annuities, including reserve issues for GMDBs. From the 1988 Record of Society of Actuaries, Vol. 14, No. 4A.