Description: In recent years, insurance companies have been introducing saving products whose returns are linked to equity market performance. Equity-indexed annuities [EIA's] are one of the products of this kind. This paper is a study on the recent introduction and popularity growth of equity-indexed annuities. An index is considered which provides a minimum interest guarantee and a participation in the increase in an index.

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 is the abstract of the paper 'A Stochastic Definition of Future Shares'. The traditional definition of actuarial future values and stochastic definition of Ramsay are discussed. A modification of Ramsay's definition is proposed and an application to life insurance reserves is presented.

Description: Diverse Risks 2016 Call for Essays

Description: In this session, we will explore investment solutions that aim to maintain the long-term viability of a pension plan, with considerations on hedging interest rates, credit, inflation, longevity and other risks, while accounting for the many particularities associated with underlying liabilities and their corresponding ramifications.

Description: ETFs have seen explosive growth in the past decade. Due to its flexibility and embedded risk management features, insurance companies and pension funds, are showing increasing interest in this asset class. This session covers an introduction to ETFs and the risk/rewards for insurance companies and pension funds as an additional asset class.

Description: Is Risk/Return a sound tool for decision-making? No. It is not consistent, not objective, distorts decision and degrades governance. Why? What shall we do then?

Description: Explains the method used to calculate Liquidity Cost Score and Price Impact Score. Describes the rationale for and applications of these methods.

Description: Investment Fallacies: Future Equity Returns

Description: The yield rate is that effective rate of interest at which the present value of his expenditures is equal to the present value of his returns. This paper encourages students of Theory of Interest class to try to approach yield rate problems by starting with the definition of yield found in Steve Kellison's text.