Description: To inform and educate stakeholders for health plans and insurers on novel ways to optimize reinsurance structures to meet capital related goals and boost RBC and liquidity ratios. In lieu of traditional market-based financial instruments involving equity and/or debt, a quota share transaction can be used with potentially far more attractive terms and achieving essentially the same result.

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: Article discusses the mechanics of index-linked annuities and the growth of RILAs

Description: Businesses across the board have been drastically impacted by the effects of COVID-19 over the course of 2020, and insurance was not immune. Perhaps most relevant to this industry’s current capital and liquidity concern is the prevailing low interest rate environment. This has been a global trend in the last decade, and treasury rates in much of the developed world are at or near zero. Reduced investment returns limit an insurer’s ability to achieve their desired return on equity, eliminating previously profitable strategies that depended on the leverage of life and annuity balance sheets. Focus and activity have instead shifted to other methods to counteract the low interest rate markets and accompanying capital strain. Examples include increased mergers and acquisitions (M&A) activity within the insurance industry and an increasing focus by private equity firms in the insurance market for asset-intensive products, both of which reflect the goal of increasing yield rates on capital.

Description: All things considered, caution needs to be applied to the use of so-called “standard” mortality tables. Sharpening up these blunt estimates by using individual assumptions reveals material differences in the structure of longevity, both between plans and within plans.

Description: This article is a book review of Deaths of Despair and the Future of Capitalism written by Anne Case and Angus Deaton. The book highlights factors that have attributed to the decline in life expectancy in the U.S. over the past two decades. Overall, there has been a significant increase in deaths of despair from drug overdoses, suicides, and alcoholic liver disease that has impacted life expectancy. The review of this book highlights key points and factors in this increase in deaths of despair based on the research of the authors. From an actuarial perspective, this book identifies areas within the U.S. society and economy that would continue this trend and impact future mortality rates and improvement scales.

Description: Column from the chairperson of the SOA's Financial Reporting Section describing the research and webcasts available to section members.

Description: A look at the COVID-19 crisis in 2020, and how it differs from both prior financial crises and pandemics. The COVID-19 pandemic gives actuaries an opportunity to assess different ways risk may interact, and thereby adjust the profession’s work for the future.

Description: Chairperson's introduction to the Joint Risk Management Section (JRMS) February 2022 Risk Management newsletter. Includes a brief description of the JRMS section, summarizes the portfolio of benefits and continuing education opportunities available for those in the risk management profession, discusses the role of the JRMS Council to lead the efforts to provide those benefits and touches on changes underway.

Description: Provides an update, as of September 2022, on Financial Reporting Section sponsored research projects in process and those recently completed.