Description: Presenters at session 115PD of the New York Annual Meeting provide an overview of structures used for credit enhancement of GICs as well as an understanding of how financial guarantees work in the GIC market. From the Record of the Society of Actuaries, Vol. 24, No. 3.

Description: This session looks at a number of other structures that can be used to package more exotic investments. From the Record of the Society of Actuaries, Volume 27, No. 2, Session 44PD of the Toronto Spring Meeting.

Description: This presentation, session number 55PD, took place at the 2000 Annual Meeting of the Society of Actuaries, held October 15-18 in Chicago. The panelist look at a variety of capital market structures used to replace maturing guaranteed investment, ‘GIC,’ contract liabilities from accounting, regulatory, rating agency, and investor viewpoints. Discussion from participants is included. From the Record of the Society of Actuaries, Volume 26, No. 1.

Description: From a session at a meeting of the Society of Actuaries held in San Diego, CA, June 22-23, 2000 Topics in this discussion include: 1 An overview of the municipal reinvestment market—size, current players, and historical development, 2 A comparison of muni-guaranteed investment contracts to stable value guaranteed investment contacts 3 Types of funds and contracts issued in this market, including contract provisions and risks 4 Roles that life insurers currently play in this market and 5 Use of structured companies or parent-supported subsidiaries.

Description: From a session at the Spring regional meeting of the Society of Actuaries held in Atlanta, Georgia, May 24-25, 1999 Panelists discuss the process of selecting outside investment managers.

Description: From a session at the annual meeting of the Society of Actuaries held in Chicago, Illinois, October 15-18, 2000 Discussion of indexed guaranteed separate accounts, typically issued to defined-benefit pension plans. Contract terms, risks, marketing, financial reporting, reserves, and investment strategies are discussed. Risk-based capital and the National Association of Insurance Commissioners Model Regulation for Separate Accounts with Guarantees are also discussed. A hypothetical indexed separate account is analyzed for return on capital and economic risk.

Description: This session discusses how floating rate funding agreements, which have put options or short maturities, became an important product for many insurers in the 1990s. From the Record of the Society of Actuaries, Volume 27, No. 3, Session 29PD.

Description: Municipal Reinvestment Contracts by Victor Modugno from Risks and Rewards Newsletter, September 2000, Issue No. 35.

Description: The article is a summary of Session 9PD at the Society of Actuaries annual meeting in New Orleans in October 2001. Terminal funding the purchase of annuities by pension plans usually at plan termination and stable value GIC's became major product lines in the 1980's. This article describes the changes in the those products, the markets and regulatory environment.