Description: Calculating the risk adjustment confidence level disclosure required by IFRS 17 if the risk adjustment itself is calculated using a cost of capital approach

Description: Traditional pension mathematics assumes that mortality rates are fixed at a valuation date. If mortality rates reduce after a valuation date, the liabilities of a defined benefit plans 'DB plans' increase, leading to deficits. Such deficits are somewhat unpredictable, because the evolution of mortality rates is a random process. This problem, which is often called longevity risk, makes the maintenance of DB plans difficult. The International Accounting Standards Board 'IASB' has plans to tackle the arduous problem of how to disclose longevity risk on financial statements. The IASB was established in 2001 to create universal accounting standards, called International Accounting Reporting Standards 'IFRSs'. A primary objective of this paper is to propose a number of methods that can help actuaries and plan sponsors quantify and disclose longevity risk.

Description: This paper is from Transactions of Society of Actuaries 1955 Volume 7, Number 17. The author notes that in mortality studies the ‘natural’ unit for exposures and deaths is number of lives, but often more insight is gained by use of other weights, such as face amount. In this paper, the author develops a method which, ‘by a combination of exposed to risk formulas, provides a comparatively simple procedure to permit consideration of weights which vary during the observation period.’

Description: At this luncheon session, the winning papers from the 1990 Society of Actuaries Health Section's research paper competition are presented. The two winning papers are: 1. 'The Natural Limitations of Health Care Trend: A Paper Concerned with Methodologies of Determining Trend Assumptions for Retiree Health Costs' by Jeffrey P. Petertil, and 2. 'Modeling Flexible Benefit Selection' by Charles S. Fuhrer and Arnold F. Shapiro. From the Record of the Society of Actuaries Vol. 17, No. 3B.

Description: The last few years have seen a dramatic change in the way that insurance products are priced. If we traveled back in time 15 to 20 years, we would see a world where most insurance products were priced on the basis of a few static scenarios. In the last several years, pricing on a stochastic basis has become more mainstream—at least for contracts with embedded guarantees.

Description: This panel discussion is from the 1991 Meeting of the Society of Actuaries, held May 16-17 in New York. The panelists discuss various aspects of accelerated benefits, also known as “living benefits riders,” such as types of benefits, marketing, tax issues, pricing, valuation, and reinsurance. Regulatory issues are discussed, including the work of the American Council of Life Insurance, ‘ACLI,’ and the National Association of Insurance Commissioners, ‘NAIC,’ and their committees, in developing a Model Regulation. Discussion from participants is included. From the Record of Society of Actuaries, Volume 17, No. 2.

Description: This is a web page containing links to papers presented at the Retirement 20/20 conference held in Washington, D.C. on November 17 & 18, 2008.

Description: An abbreviated version of a larger chart produced by the International Actuarial Association.

Description: In this article about professional development, the new competency network is descibed and and emerging job opportunities in health care analytics are discussed.