Description: Future mortality improvement is an important assumption in the valuation of life insurance and annuities. In this session, presenters will discuss the work of the Mortality Improvement subgroup of the American Academy of Actuaries’ Life Experience Committee and the Society of Actuaries’ Preferred Mortality Oversight Group Valuation Basic Table Team in developing mortality improvement scales for AG-38 and VM-20. In addition, two recent SOA efforts on mortality improvement will be examined. Research on developing a broader framework for modeling mortality improvement assumptions is being developed to enable U.S. actuaries additional ways to follow a consistent approach across a variety of actuarial practice applications. Results from a study on U.S. population mortality by socioeconomic category and how it fits into the broader consistent framework will be presented. Additionally, results of a survey on mortality improvement practices of life insurance companies and reinsurers in Canada and the U.S. will be shared.

Description: 1993 SOA Spring Meeting, Boston. The panel discussed developments in products that involve multiple lives. Topics included: 1. Last to die products. 2. First to die products. 3. Variable products. 4. Reinsurance. 5. Market trends.

Description: New Chairperson’s Corner

Description: Book review of the latest edition (4th) of Life, Health, and Annuity Reinsurance by John Tiller, Jr and Denise Fagerberg Tiller

Description: In this Forward to the Product Development Section Monograph M-AS99-3, the authors reflect on the changes that have occurred during the first 50 years of the SOA and introduce the selected articles that reflect the forces of change in product development work.