Description: Summarizes a research paper considering insurer performance during the financial crisis, with actions and circumstances that improved results highlighted.

Description: New Zealand is about to launch its first variable annuity with guaranteed lifetime withdrawal benefits. The product design is mindful of the lessons from the financial crisis in the United States, Europe and Japan.

Description: This session from the 1982 SOA Spring Meeting features the threat that long term inflation poses on investments. It reviews historical rates of return on T-Bills, bonds and stocks, funding certain liabilities with a 'Dedicated Bond Portofio' or DBP, a Master Trust and purchasing real estate with retirement plan assets. From Record of the Society of Actuaries 1982, Volume 8, No. 1.

Description: Investment Fallacies: Future Equity Returns

Description: In this paper, chapter V of the 1987 Valuation Actuary Handbook, the authors start with a discussion of how the recent economic environment with volatile interest rates has changed the valuation and surplus management process to one more dependent on actuarial judgment. In a discussion of surplus policy, the authors identify four “layers” of surplus which have been identified by scenario testing. These surplus layers, along with policy reserves, are based on specific invested assets. The paper discusses implications for the future and notes the actuary’s ability to advise management on surplus adequacy is a basic tool of risk management.

Description: Investment Fallacies: Gambler’s Fallacy: Probability of Reversion

Description: In recent years there has been an increasing interest in the practical application of immunization theory to North American Funds. There is a lack of literature on this subject and this article is written to give a clear and concise description of the theory, and of its role in the framing of investment policy.

Description: Investment Fallacies: Extended periods of robust macroeconomic growth are healthy for investing.

Description: Investment Fallacies: Mathematical modeling of social phenomena

Description: This article offers insights about the United Technologies Corporation lifetime income approach and information on the design, administration and acceptance.