Description: A discussion of, first, the three-year transition period for adopting principle-based reserves and how it might not apply to tax reserves, and second, the tax impact of adding investment options to in-force contracts.

Description: After nearly a decade of work by ACLI and representatives of its member companies, the Society of Actuaries SOA, the American Academy of Actuaries Academy, and the NAIC’s Life and Health Actuarial Task Force LHATF, on Sept. 24, 2008, the NAIC adopted a new actuarial guideline for applying the method of computing statutory reserves for variable annuity contracts AG VACARVM.

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.

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: A paper demonstrating how to obviate the need for market timing strategies in variable annuity products by judicious use of product design. The paper presents the premise behind the product design, provides numerical examples, then explores possible extensions of the concept to produce more sophisticated variable annuity plans based on guarantees of investment outcomes.

Description: Milliman, Inc. recently conducted a survey of leading variable annuity insurers to better quantify the current dynamics of the GLB market. The scope of the Milliman survey included variable annuities that offered any type of GLB during calendar year 2004 and during the first quarter of 2005.

Description: Discusses how AG 34 provides a clarification of CARVM for variable annuities with MGDB’s.

Description: The article compares China's variable annuities with India's NAV guaranteed ULIPs. Both of them mostly working on CPPI. The comparison is mainly focused on market competition landscape, unit-linked business market share, incentives of introducing the product, and the macro-economic environment in the two countries.

Description: Decomposes guaranteed minimum maturity benefit option into a basket of components, and values each component with both a Black-Scholes model and a regime-switching GARCH model. Performs sensitivity analysis on dynamic lapse assumption.