Description: The presenters will review and discuss the recent trend of FIA and Structured Annuities new product development, illustrate the differences and similarities between these two types of products, and discuss how insurance carriers may effectively manage the capital market risk from derivative hedging perspective. Special emphases will be on (1) the performance of customized FIA indices during the recent economic cycles, relative to benchmark equity indices such as S&P 500, and (2) the latest product designs of Structured Annuities and offering rates by insurance carriers.

Description: This session will include a brief outline of the origin of the tontine from when it was first introduced by the government of England in the 17th century through its disappearance in the early 20th century. As we explore the history of tontines, we will discuss their multiple references throughout English (and French) literature, often vilified by most authors using them as their subject, and how they bear little resemblance to the insurance product that many contemporary financial scholars advocate as a viable annuity concept for today and the future. The presenters will cover the practicality of reintroducing a modernized version of these longevity pooling arrangements (i.e., where aggregate longevity risk is shared among a group and not incurred by the issuer) as a retirement savings vehicle. They will also touch upon different aspects of tontines, such as risk management and regulatory issues.

Description: The SOA recently launched the Mortality and Longevity Strategic Research Program with the release of a new study on the economic impact of opioid abuse. In this session, results of this study will be presented along with insights and plans for the future of the Program.