Description: Discusses the market, demographic, and macroeconomic factors that affect actuaries' choices for the assumptions they use in the pricing and valuation of many insurance products.

Description: Explore the importance of financial well-being and current efforts to improve it for all stakeholders, including employers, insurers and individuals. With factors like the COVID-19 pandemic and economic pressures driving rapidly rising inflation, dive into this webcast to learn better preparation for retirement security. How will we meet the future challenges of financial well-being? Discover research materials from the Geneva Association, Financial Finesse and the Society of Actuaries Aging and Retirement Strategic Research Program crafted to help clients and colleagues financially plan for the future.

Description: The Life Meeting, is the result of combining the Life & Annuity Symposium (LAS) and the Valuation Actuarial Symposium (ValAct). The Life Meeting will offer sessions specific to pricing and valuation as well as sessions on emerging issues relevant to both groups. These common themes include InsurTech, diversity, accounting change and the current economic environment.

Description: This paper evaluates the current practice of operational risk management in the insurance sector. Operational risk is nothing new in insurance, but, because of regulatory requirements, companies have initiated computation of risk capital for their operational losses. The current effort to manage operational risk is not a naturally evolving phenomenon, and operational risk, in the Basel Committee on Banking Supervision’s Basel II definition, is unlikely to be a significant cause of insurers’ failure. In addition, the current Basel II definition of operational risk is not suitable for the insurance sector. Consequently, the invention of models and tools based on the definition is incomplete and illusionary. My findings are based on the analysis of dozens of interviews with insurance industry professionals. I demonstrate the way operational risk is quantified in practice, show that the result obtained from this computation is of littl e use in managerial decision making and propose a set of policy recommendations illustrating the characteristics of operational risk in insurance. This study can be used as a platform for launching dialogues to initiate fresh thinking about operational risk in insurance beyond the current artificial and narrow boundaries.

Description: As the Federal Reserve's recent interest rate hikes increase potential asset yields, an expected rate increase to products offered by insurance companies of all sizes, including annuities, can be seen in the current economic landscape. The increased market volatility and high inflation create insurance company performance complications, which can lead to a disproportionate impact for smaller insurance companies. Discover the current status of the market environment and explore suggestions and possible solutions for smaller insurance companies as they deals with complications like a lack of access to higher-yielding investment strategies and limits made by risk management policies from owning unrated asset claims. There will also be a discussion on the recently adopted Actuarial Guideline on Asset Adequacy Testing and the implications for insurance companies.

Description: This session discussion is about deterioration in claims-paying ability, financial well-being of life insurance companies, benchmark surplus standards, key operation ratios, credit analysis of asset holdings, market view of stock companies, adequacy of capital in the industry, appropriate risk/reward posture in the industry, advice to management, outlook for the various business and views on surplus relief devices. From Record of the Society of Actuaries Vol. 15, No. 3A.

Description: This abstract describes a paper that proposes a new model for the loss given default (LGD), which takes the depth of default into consideration.

Description: 1999 SOA Spring Meeting, Atlanta. This session addressed the risks and potential costs of long-term guarantees in some insurance products. Topics included: · Guaranteed annuity purchase rates - how close are current rates to the guarantees? · Guaranteed minimum credited rates. · Guaranteed bonus rates.

Description: This abstract describes a paper that proposes a new model for the loss given default (LGD), which takes the depth of default into consideration.

Description: This session at the SOA 1998 Maui I Spring Meeting discusses strategic planning for an actuarial consulting firm or any other type of company with a focus on changing with the times and capturing new opportunities.