Description: When annuity products became prevalent in the U.S., they all looked more or less the same. It was where folks put their safe retirement money, yielding modest guaranteed returns with a menu of payout options to help secure their retirement. Over time, this commoditization lead to a pricing squeeze and an exhaustive set of product options and features, exposing carriers to market and policyholder behavior risk over the past decade or so.

Description: Reinsurance News co-editor Ronald Poon-Affat discusses the morality and ethics involved in life insurance

Description: Provides background on the Brazilian insurance authority's ban of the group life rider benefit for Total and Permanent Disability due to illness, TPD. Then discusses alternative benefits that could be offered as replacements.

Description: Editorial discussing the tumultuous insurance industry and current financial crisis.

Description: In November 2011, a number of associations, including the American Council of Life Insurers [ACLI], filed comments with the Brazilian regulatory authority urging Brazil to stop restricting reinsurance access to only domestic reinsurers in one of the world’s leading emerging markets for insurance. This article examines the background and legitimacy of this complaint.

Description: This article discusses the closed nature of the Brazilian reinsurance market due to the IRB. The Instituto de Resseguros do Brasil is owned 50% by the 15 insurance companies that are licensed to do business in Brazil and 50% by the Government of Brazil, but the Government owns 100% of the voting shares. All reinsurance business must be transacted with and via the IRB. The process, opportunities and risks associated with this scheme are explored.

Description: This is an editorial article on risk management books.

Description: Editorial discussing actuaries and social media, specifically Facebook.

Description: In this interview, Caroline Grégoire, formerly from Hannover Re, and now international mentor, coach, trainer and speaker, shares her views on how mentoring can support you on your career path and how it also benefits the reinsurance industry as a whole.

Description: This editorial notes how change is constant in the world around us and that the SOA has adopted a theme of change. Articles in this issue of The Actuary, which are all related to change, are summarized.