Description: This presentation, session number 87PD, took place at the 1999 Spring Meeting of the Society of Actuaries, held May 24-25 in Atlanta. Panelists discuss the value of convertible bonds as an asset class for insurance companies. The topics include an overview of the market, different types of convertible bonds, and historical performance. Discussion from participants is included. From the Record of the Society of Actuaries, Vol. 25, No. 1.

Description: The panel discusses: 1. How fund transfers may affect expense recoveries through fee revenue 2.How transfers between fixed and variable funds may impact required capital 3. Product design features that affect the risk profile of the product and 4. Modeling considerations to quantify the policyholder behavior risk. From session 113PD of the 2001 Toronto Spring Meeting.

Description: As equity markets decline and become more volatile, the likelihood of significant guaranteed benefit claims increases, while increases from mortality and expense fees declines. The article illustrates how to use a derivative contract, a properly structured total return swap, to turn a company's uncertain M&E revenue patterns into predictable revenue.