Description: This report summarizes the results of a research project undertaken by the Society of Actuaries to study the possible effects of the International Accounting Standards Board’s IASB Discussion Paper describing its Preliminary Views on Insurance Contracts on nine representative U.S. life, health and annuity products.

Description: In recent years, insurers have focused attention on the implementation of economic capital frameworks as part of risk management. Due to the diversity of products in an organization’s portfolio, its overall risk profile is comprised of different risk categories. The general framework used by an organization for economic capital purposes is to determine its exposure to each risk independently, then aggregate them to produce an overall risk profile. This is a study of aggregation techniques in use.

Description: This is the final report of a survey of life insurance companies on the cost of implementing the new principle-based statutory accounting framework.

Description: This is a final report for a research project to create reference material that addresses the methods and techniques for quantifying margins for uncertainty in actuarial assumptions under a Principle-based statutory accounting framework.

Description: This paper presents a disability continuance table based on industry individual policy experience to render it suitable as a standard for expected claims and for adjusted earnings purposes. Also includes discussion of the paper by John B. Cummings, Timothy A. Hinchliff, John H.Miller, R.Terry Nelson, John S.Thompson Jr., Eduard H.Minor

Description: A presentation of a mathematics/statistics based approach for determining credibility factors for possible use in group health insurance premium rate setting and experience refund setting. Includes supporting mathematical proofs of approach. Followed by discussions submitted by several people

Description: These are discussion papers on the paper, 'The ELAS Life Income Mortality Table' by Harry Walker. That paper describes the derivation of the ELAS Life Income Mortality Table, which has been adopted by the Equitable Life Assurance Society as the mortality basis for the life income option of the modes of settlement in its current series of policy forms and for the calculation of premiums under currently issued individual deferred annuity contracts.

Description: This paper develops the theoretical formula for the face amount under the New York Life variable life insurance design, introduced in the paper 'Analysis of Basic Actuarial Theory for Fixed Premium Variable Benefit Life Insurance,' adapted to a daily basis and also provides a simplified approximation of this formula. A formula for daily net premium is also derived.

Description: This paper reviews recursive formulas for aggregate claim distributions. Followed by a submitted discussion paper

Description: This paper presents a short method of calculating, without approximation, substandard annual extra premiums based on the standard net amount at risk. The method proposed in this paper, is by means of specially constructed auxiliary commutation columns, eliminating the need for any summation, and producing exact values of any extra premiums by relatively simple formulas. A mathematical proof of the methodology is provided.