Description: This report discusses drivers of U.S. mortality improvement for the short and long term.

Description: This report discusses drivers of U.S. mortality improvement for the short and long term.

Description: This paper investigates the use of models of dependent mortality for determining annuity values. We discuss a broad class of parametric models using a bivariate survivorship function called a copula. Using data from a large insurance company to illustrate our methods, we calculate maximum likelihood estimates to calibrate the rnodel.

Description: Report on differences & similarities in mortality by age group, time, cause of death and region to aid in understanding of future expected mortality rates.

Description: A report on the results of the latest intercompany study of mortality experience under structured settlement annuities for the exposure years 2009-13.

Description: The values of life insurance and annuity liabilities move in opposite directions in response to a change in the underlying mortality. Natural hedging utilizes this to stabilize aggregate liability cash flows. Our study shows empirical evidence that insurers who utilize natural hedging also charge lower premiums than otherwise similar insurers. This indicates that insurers who are able to utilize natural hedging have a competitive advantage. In addition, we show how a mortality swap might be used to provide the benefits of natural hedging to a firm that writes only one of the lines of business.

Description: Report on differences & similarities in mortality by age group, time, cause of death and region to aid in understanding of future expected mortality rates.

Description: Questions and answers related to the implementation of the 2012 Individual Annuity Reserving Table, including a projection scale example.

Description: In this paper, presented at the Eastern Spring Meeting of the Society of Actuaries, held March 24-25, 1960 in Washington, D.C., the author documents the determination of elementary functions and monetary values of the 1941 CSO Mortality Table on an age last birthday basis, noting that until this time the tables had been published only on the basis of age nearest birthday. The impetus of this change was the author’s company, Metropolitan Life, having recently started issuing ordinary life policies on an age last birthday basis, the rational being the use of age nearest birthday had led to policyholder confusion and misunderstanding. Includes discussion. From the 1960 Transactions Vol. 12, No. 33.

Description: This paper, presented by Gordon J. Munro at the Eastern Spring Meeting of the Society of Actuaries, held March 24-25, 1960 in Washington, D.C., determines monetary functions of group annuity mortality based on the Ga-1951 Male Table, projected to 1960 by Projection Scale C. Includes discussion and errata sheet. From 1960 Transactions Vol. 12, No. 33.