Description: This paper, part of the Society of Actuaries [SOA} ‘Research Projects – Finance/Investment,’ and sponsored by the Society of Actuaries Committee on Finance Research, is a research report exploring the mechanics and implementation of economic capital programs for life insurance companies. The report includes discussion of the common methods for calculating economic capital with advantages and disadvantages of each method among other topics. In addition to the, a PowerPoint presentation with highlights from the report is also available.

Description: This session at the SOA 2001 Annual Meeting discusses variable annuities with guaranteed living benefits including an overview of the market and risk management practices from the viewpoints of a reinsurer, including hedging options, and a rating agency.

Description: The Committee on Finance Research makes available a research report exploring the mechanics and implementation of economic capital programs for life insurance companies. Discussion items include common methods for calculating economic capital advantages and disadvantages of each method.

Description: Panelists discuss economic capital, capital modeling, and hedge modeling, especially for guaranteed living benefits [GLBs] on variable annuities. Session 34PD of the 2005 Valuation Actuary Symposium.

Description: Presented at May 2002 Spring Meeting. This session provides an overview of the various methods used to manage the risks from guarantees of equity-based life and annuity products. Discussion includes the use of reinsurance, self-insurance and static/dynamic hedging.

Description: In this presentation from the 2003 SOA Orlando Meeting, equity analysts describe their views of the quantitative and qualitative factors that drive insurance company stock market valuation levels. The analysts identify current issues and concerns for the companies they cover. From the Record of the Society of Actuaries, Volume 29, No. 3.

Description: This article presents recent developments and trends with respect to Economic Capital based on the work of the EC subgroup of the SOA's Risk Management Task Force.

Description: The Committee on Finance Research makes available a research report exploring the mechanics and implementation of economic capital programs for life insurance companies. Discussion items include common methods for calculating economic capital advantages and disadvantages of each method.

Description: A number of insurance companies have recently implemented, or are in the process of implementing, economic risk capital. These programs are being implemented because of concerns with the existing regulatory and accounting frameworks and/or companies' desire to have a capital framework which is more consistent with their risk profile. From the Record of the Society of Actuaries, Volume 30, No. 2, Spring Meeting, San Antonio, TX, June 14-15, 2004, Session 47PD.

Description: This presentation is an open forum, session number 12OF, from the 2000 Valuation Actuary Symposium, held September 14-15 in Washington, DC. The National Association of Insurance Commissioners [NAIC] has proposed a requirement that certain products have risk-based capital [RBC] C-3 determined as the greater of a calculation based on fixed factors, and results of a formalized cash-flow test. The panelists provide a summary of the requirements of C-3 testing, followed by an open discussion regarding implementation issues and other questions.