Description: 1994 SOA Meeting, San Francisco. This session discussed variable annuities and how direct companies use reinsurance to mitigate death and investment risk. Variable annuities and the enhanced death benefit were addressed from the direct and reinsurance sides.

Description: 2011 Enterprise Risk Management Symposium, Chicago. This paper starts by defining and discussing the nature of risk and its primary relationship to capital preservation. The paper then continues with a guide for implementing a company’s risk appetite statement for a variable annuity product.

Description: 2004 SOA Annual Meeting and Exhibit, New York. This discussion looked at individual life insurance and annuity products and the risks these guarantees carry, such as: 1. Extended maturity benefits. 2. Secondary guarantees. 3. Guaranteed insurability. 4. Guaranteed minimum living and death benefits in VA.

Description: This session at the SOA 2001 Annual Meeting discusses variable annuities with guaranteed living benefits including an overview of the market and risk management practices from the viewpoints of a reinsurer, including hedging options, and a rating agency.

Description: This session will provide an overview of the evolution of equity-based guarantees (e.g. VA, FIA, etc.) over the last few years and discuss the current lay of the land as it relates to the regulatory, issues, capital markets (e.g. Department of Labor, Dodd-Frank) environment in which these products are offered.

Description: This paper discusses alternatives open to an actuary in the writing of a variable annuity contract. From Transactions of Society of Actuaries 1969, Vol. 21, Pt. 1, No. 61.

Description: While our ability to access and analyze large quantities of data is better than ever, many long-term products suffer from sparse data in critical risk areas, such as deep in-the-money lapse experience and long-term utilization rates for income guarantees. The presenters will explore industry-level annuity experience data for these types of situations, and discuss quantitative approaches to addressing them in pricing and other applications.

Description: This discussion at the 1968 Annual Meeting covers equity-oriented product issues including deciding to sell variable annuities, sales methods, the effect of SEC regulations, and new equity product ideas.

Description: A discussion of the effective dates and statutory reserves cap for variable annuities under Actuarial Guideline 43.

Description: Regulatory change and increased focus on internal risk management are driving a renewed interest in model efficiency. In this session, we will review several new and existing tools, that show significant promise for advanced modeling of equity linked products. These include: • Clustering • Use of unique--and potentially a different number of--scenarios for each policy • Semi Monte Carlo (SMC) – this is a proprietary technique that is similar to a combination of Monte Carlo and numeric integration • Using a neural network approach to optimize some of the more complex and manual aspects of clustering and improve the fit of the clustered model • Combining SMC with the use of unique scenarios per policy