Description: This presentation is a concurrent session from the 1991 Meeting of the Society of Actuaries, held April 18-19 in New Orleans. The panelists discuss the design and pricing of immediate annuities, as well as related topics including reserving issues, asset strategies, asset/liability matching, reinsurance considerations, and NAIC Actuarial Guidelines IX-A and IX-B. Discussion from participants is included. From the Record of Society of Actuaries, Volume 17, No. 1.

Description: Contains two separate articles, called notes. The first note, “A note on correlation in mean variance portfolio theory,” is an elementary discussion of how negative correlation coefficients can be, given any set of N random variables. The second note, “Two essential formulas in actuarial science and financial mathematics,” gives a more or less self-contained introduction to Jensen’s inequality and to another formula, which the author decided to call the “survival function expectation formula.”