Description: The Asian insurance landscape is undergoing significant change, with Japan experiencing a surge in reinsurance activity. This webcast will explore the factors driving this growth and provide insights into the current state and future direction of the Japanese reinsurance market. We'll delve into the unique characteristics of the Japanese market, examining the specific reinsurance needs of Japanese life insurers and how partnerships with US and offshore reinsurers are evolving. Looking ahead, we'll analyze the expected trajectory of the market, including the types of business and products likely to see increased demand. We'll also discuss how emerging economic factors and regulatory changes will shape future needs and the competitive landscape. Join us to gain valuable insights into this dynamic market and its future potential.

Description: Discover the rapidly developing health and wellness industry during the Use of Health and Wellness Data in L&H Risk Assessment webcast. Our discussion includes the maximization of data usage through several different means, including current risk selection, creation of a dynamic ongoing assessment offering or substitution of traditional underwriting information to shorten the underwriting process. Come explore these different approaches as they affect the health and wellness industry. We will express the importance of a constantly changing data usage environment in order to better prepare insurers to maximize their data and drive health and wellness forward.

Description: Read the April 2020 issue of Risk Management, published by the Joint Risk Management Section. Newsletters provide practical information for the working actuary, articles on trends that impact sections and news about section activities.

Description: Retirement market study of Brazil in English

Description: Digital is the main reason over half of the companies on the Fortune 500 have disappeared since 2000." (CEO Accenture). We cannot be sure how global technology megatrends will disrupt the life insurance industry, but we can be certain that the future will not look like today. As large quantities of available data are no longer owned by insurance companies and statistical techniques become more accessible to non-statisticians, the pressure to keep up with technological advancement increases. Life actuaries must think critically about and be prepared for the coming changes and position themselves as leaders in an industry lagging behind in new technology adoption.

Description: Despite the slowdown in the economy, premium growth in emerging markets fared relatively well compared to advanced insurance markets. Yet, there exists an enormous range in premium density and penetration between emerging and advanced markets. The presenters explore the demand side and attempt to lay out possible solutions to narrow the protection gap.

Description: Read the January 2020 issue of International News published by the International Section. Newsletters provide practical information for the working actuary, articles on trends that impact sections and news about section activities.

Description: The collective investment in transforming the life insurance proposition exceeds anything seen in the last thirty years — a working lifetime. As one would expect, reinsurers are playing a major role. The past five years have seen global reinsurers raise the bar on client experience to new levels, while also investing, expanding and re-organizing to support the transformation of the primary insurance industry, and in so doing also their own.

Description: This research report on the effect of deflation or high inflation has six sections: 1. The first section provides background on inflation, describes some problems in measuring inflation, and explains some of its effects on an economy. 2. The second section reviews historical inflation rates. 3. The third section examines the effect of inflation or deflation on the property-liability and life insurance industries. 4. The fourth section proposes risk mitigation strategies for insurers to cope with either deflation or high inflation rates. 5. The fifth section describes a publicly available model that can be used to develop inflation/deflation projections under a regime switching format that can readily be adjusted to reflect current financial uncertainty. 6. The sixth section provides conclusions.

Description: 2011 Enterprise Risk Management Symposium, Chicago. This study investigates whether simulation-based models can be used to predict liquidity risk for banks, which must comply with Basel III by January 2015. The paper looks at the process of developing a measurement framework using Black-Scholes and Merton’s asset-based models to measure liquidity risk.

Description: Research report describing the results of an Emerging Risks Survey conducted in 2010. This survey attempts to track the thoughts of risk managers about emerging risks across time. The new top five are: 1. Fall in value of US Dollar. 2. International terrorism. 3. Chinese economic hard landing. 4. Oil price shock. 5. Failed and failing states.

Description: Presented at the Living to 100 Symposium, January 2011. Long-term care LTC insurance is frequently not covered by national social insurance programs. When costs are expressed as a percentage of gross domestic product, the future burden of financing LTC would not lead to unbearable tax levels and is not particularly large in comparison to the projected costs for pensions and health care. After identifying the breadth of definitions of LTC needs, it is argued that LTC is an insurable risk. The paper concludes that LTC social insurance is affordable in developed countries.

Description: This report presents the results of a survey conducted in August of 2008 on foreign travel underwriting practices of reinsurance companies.

Description: Transcript of the Q&A period from session 2A.

Description: Article from Pension Section News, May 2007, No. 64, discusses outcome-oriented approach to defined benefit investing. Instead of focusing on market indices, the focus is on achieving a specific real-world outcome for the defined benefit plan.

Description: This article is the presentation given by David Blitzstein at the Future of Pensions track at the 2005 CCA/SOA Employee Benefits Spring Meeting. It discusses the unraveling of the defined benefit pension system and what must be done to save it. From Pension Section News, September 2006, No. 62.

Description: This paper examines the Australian actuarial qualification process from the perspective of what makes a good education system, and notes that there are a number of constraints imposed by the profession that impair the quality of students’ learning outcomes. The paper goes on to suggest how these pitfalls might be avoided in the interests of providing future actuaries with an opportunity to develop the attributes they will need for their professional careers. From Actuarial Research Clearing House, 2006.

Description: This article recaps the causes of the failure of Mutual Life, discusses the response of the government of Jamaica and explains the appointed actuary's new role. which includes the role of whistle blower.

Description: Deferred bonus policyholder dividend reserves arise because “the policyholders’ share of net income … that cannot be distributed to stockholders shall be excluded from stockholders’ equity” by establishing a reserve. This article provides background on local minimum policyholder participation practices in the US and Europe, presents relevant accounting issues and discuss the two different accounting interpretations and make a recommendation as to which the authors feel is most appropriate at this point in time.

Description: This session from the 2003 Washington D.C. Spring Meeting discusses the recent economic conditions in Europe, Asia and North America and the changes in product design and risk management that have taken place to address such financial risk. From the Record of the Society of Actuaries, Volume 29, No. 1, Session 77PD.

Description: This paper is the final report in a project commissioned by the Society of Actuaries Social Security Committee. The paper considers a variety of possible risk classification factors that could be used in estimating the value of any mortality based benefit for retirees. As many countries consider mandatory individual retirement accounts as their answer to a secure Social Security system, the question arises as to whether all workers can get true 'market value' annuities when they retire. It is clear today that private sector life annuities are priced assuming that the applicant is healthy-very healthy. Very little underwriting or risk classification now exists in the individual annuity marketplace. This paper reviews 45 recent research papers that look at factors that affect mortality after retirement. In particular, factors that seem to be important in predicting retirement mortality include: age, gender, race and ethnicity, education, income, occupation, marital status, religion, health behaviors, smoking, alcohol, and obesity. For each factor, this paper gives highlights relative to the named factor of the impact expected from that variable as described in the 45 reviewed research papers.

Description: Presented at Living to 100 and Beyond symposium 2002. Discussion of two papers, 'Approaches and Experiences in Projecting Mortality Patterns for the Oldest Old' by Buettner and 'Using Dynamic Reliability in Estimating Mortality at Advanced Ages' by Lin. The first paper discusses the UN methodology for projecting mortality above age 80 and presents another approach for addressing the problem of table closing. The second paper suggests a new statistical model for fitting and estimation of mortality rates at advanced ages.

Description: This session 30 PD of the New Orleans Annual Meeting discusses how several organizations, with representation from a number of countries, are currently drafting new standards to create uniformity across nations. From the Record of the Society of Actuaries, Volume 27, No. 3.

Description: Presenters discuss worldwide issues and trends in which actuaries may be involved and the implications of these issues and trends on the actuarial profession worldwide. From the Record of the Society of Actuaries, Vol. 25, No. 3.

Description: Presenters gave their projections and analysis on demographic trends and longevity prospects going into the next century in important countries. They analyzed the factors influencing the expected trends and comment on what these trends will mean for the financial services industries and the actuarial profession around the world.

Description: Presenters examine some of the difficulties created by the absence of worldwide generally accepted accounting principles. Topics covered: 1. The need for worldwide Generally Accepted Accounting Principles, accounting, and reserving standards. 2. The work being done by the International Accounting Standards committee and the International Organization of Securities Commissions.

Description: This article discusses a 1999 white paper, 'A Partnership between the Academic Community and the Actuarial Profession.' The ultimate goal was to create uniformity in education such that qualified actuaries would be recognized regardless of where they qualified. From: The Actuary, October 1999 – volume 33 - Issue 08.

Description: In session 32 IF of the New York Annual Meeting the panel discusses the ongoing consolidation at the domestic and foreign levels of the financial services industry, and the ensuing need for an international accounting standard. From the Record of the Society of Actuaries, Vol. 24, No. 3.

Description: At this session 4PD of the SOA Annual Meeting in New York the panel discusses issues stemming from an AAA study of valuation and insurance in 14 countries on 5 continents, and what the U.S. could learn from these findings. From the Record of the Society of Actuaries, Vol. 24, No. 3.

Description: Panelists at this session of the SOA 1998 Maui I Spring Meeting discuss the American Academy of Actuaries research on valuation and insurance in 14 countries in light of the movement of the NAIC toward a new valuation law.

Description: In session 117 PD of the Washington Annual Meeting panelists discuss the status of a study regarding the current valuation methodologies applicable to life insurance, annuities, and health insurance, as well as the legal and regulatory mechanisms through which they are implemented. From the Record of the Society of Actuaries, Vol. 23, No. 3.

Description: Panelists discuss actuarial opportunities in foreign environments. From the Record of the Society of Actuaries, Vol. 23, No. 2.

Description: This article from SOA president David Holland, speaks to the need of the actuarial profession to consistently evolve with the needs of the 21st century.

Description: This session from the 1995 SOA Boston Meeting describes the expansion and consolidation of the U.S., Canadian and Mexican life insurance industries and the discusses the top players in the insurance industry in the world and their market share. From the Record of the Society of Actuaries, Vol. 21, No. 4b.

Description: 1994 SOA Spring Meeting, Orlando. This session is about the actuary's developing role in regulating insurance worldwide.

Description: In the past, discussion of actuarial education has focused on curriculum content [what is to be learned] and mode of delivery [university course versus part-time correspondence course]. Little attention has been paid to how students learn, and how that learning can be facilitated to develop actuaries with the knowledge, skills and values the profession needs. This paper deals with the university-related content of a more comprehensive paper prepared by the authors for the 1993 Convention of The Institute of Actuaries of Australia. It concentrates on students' learning in the undergraduate actuarial program at Macquarie University in Sydney, Australia, but it is likely that many of its findings and conclusions would apply equally to university actuarial courses elsewhere. From Actuarial Research Clearing House 1994, Vol. 1.

Description: 1993 SOA Annual Meeting, New York. This session is about the new methods of actuarial accounting and other methods in other countries: United Kingdom, Australia and Mexico. Topics included: 1. An overview of the most significant overall trends being addressed worldwide in the area of life insurance accounting. 2. Australian trends. 3. Trends in the UK. 4. Trends in Mexico.

Description: 1993 SOA Spring Meeting, Boston. This session is about management of multinational organizations from a home office perspective. It discussed cultural issues, regulatory issues, marketing issues, repatriation of profits, investment and currency risks.

Description: 1993 SOA Spring Meeting, Boston. In this session the panelists shared their thoughts regarding the skills, techniques, opportunities, and distribution associated with products found around the globe.

Description: 1993 SOA Spring Meeting, Boston. This session provided an overview of the insurance industry around the world. Topics included: 1. What does it take to become an actuary in foreign countries? 2. Professional Standards of Practice. 3. Disciplinary Standards. 4. Education programs supported by the SOA in developing countries.

Description: This presentation is a general session from the 1991 Annual Meeting of the Society of Actuaries, held October 20-23 in Toronto. In introducing the speaker, the session leader notes the global similarity of the actuarial profession’s interests and concerns in that “issues such as solvency, professional conduct, and standards of practice are being discussed everywhere.” The guest speaker, editor in chief of ‘The Economist,’ discusses the rapidly changing world in light of the recent collapse of communism and current geopolitical and economic trends. From the Record of Society of Actuaries, Volume 17, No. 4A.

Description: This session at the SOA 1990 Annual Meeting looks at global investing. Areas discussed include rationale for investing globally, fixed income opportunities, a model for active global investing, and other issues.

Description: This session at the SOA 1990 Annual meeting is about global dynamic - definition, effect on the actuarial profession, actuaries and insurers response to it.

Description: This session discussion is about the state of the U.S. reinsurance marketplace as viewed by foreign reinsurers and consultants. Panel members will provide insight on the willingness of foreign companies to assume risks from the U.S. marketplace and key factors that enter into this decision. From Record of the Society of Actuaries Vol. 15, No. 2.

Description: This 1981 session focused on the relative roles of regulation and the actuary in three countries - the United Kingdom, the United States and Canada. It looked at valuation and solvency, contracts, rate control and disclosure. From Record of Society of Actuaries, Vol. 7, No. 3.

Description: In this 1981 discussion session, actuaries from the United States, Canada and Britain talk about insurance regulation.

Description: In the absence of a generally accepted guide to actuarial principles and practices for pension plans, a new professional firm offering actuarial consulting services has both the freedom to establish and the burden of establishing the professional policies by which it will be guided. Our thinking about the practical and professional necessity of annual valuations is reflected in this paper. From Transactions of Society of Actuaries 1972, Vol. 24, Pt. 1, No. 69 AB.