Description: This abstract describes a paper that analyze the impact of subjective mortality beliefs on policyholder behavior for withdrawal guarantees in Variable Annuities and to assess the financial consequences for life insurers.

Description: This is the abstract of the article 'A Proposed Unified Valuation System'. This article will briefly describe some analytical examples of a stochastic modeling of risk use to illustrate the S-curve approach to valuation, but more importantly describe key additional area of research and theory, which need to be developed. The focus of this presentation is an invitation for additional research to support a new approach to statutory valuation of life and health risk that can result in better management and regulatory information.

Description: Full table of contents for issue number one of volume number one of The Record of the Society of Actuaries. The content in this issue were taken from the Los Angeles, CA meeting held March 20-21, 1975.

Description: We propose an age-shift model to modify the LC model and deal with the problem of parameters. The proposed method attains smaller estimation errors with respect to mean absolute percentage error or mean square error. We also apply the proposed age-shift model to the mortality rates of these four countries to evaluate the longevity risk in annuity products by measuring life expectancy.

Description: The abstract for the paper Mortality Laws and Models, Part 2 - Application of Mortality Models to Japan.

Description: This abstract describes a paper that proposes a stochastic population structure model based on the Leslie matrix, in which a Lee-Carter model framework is used to describe the future mortality and fertility changes.

Description: Commentary from Robert Myers regarding the apparent success of the actuarial cost estimating procedure for the Social Security program on its 40th anniversary.

Description: Mortality rates for a local community are desired in conjunction with the calculation of health-adjusted life expectancy HALE, an indicator of population health.

Description: The U.K. Pension Protection Fund (PPF) was established in April 2005 to protect the pensions of members of U.K. private sector defined benefit pension schemes that have insufficient assets and whose corporate sponsor fails. The fund takes over the pension scheme assets and assumes responsibility for the payment of compensation to the former members of the scheme. PPF is funded by a levy on the population of eligible schemes. The elements of the enterprise risk management of the fund have been developed by reference to practice within proprietary insurance institutions and other pensions funds; their application to this unique financial vehicle is the subject of this paper. The paper draws on references to relevant risk and actuarial work. It is designed to illustrate the application of principles and techniques to a real world example.

Description: This abstract describes a presentation that relates to determining the next standards applicable for pension plan valuation in Canada, depending upon further decisions to be made by the Actuarial Standard Board-Conseil des norms actuarielles.