Description: This paper develops a tool that may be useful in explaining the differences between earnings that are reported under GAAP and profits that are expressed as an internal rate of return.

Description: Discusses the reasons for, and the economic impacts of, the backdating of life insurance policies, and what changes in the industry might evolve to address them.

Description: This paper presents a generalized profits released model which resolves the difficulties of the traditional analysis posed by products that have fluctuating profits and losses over time or have no initial investment. Discussions of the paper are included.

Description: This paper estimates the acquisition and maintenance costs associated with life policies as a function of the amount of insurance and number of policies of an insurer by estimating a cost function for our sample of insurers.

Description: This session at the SOA 1990 San Francisco Spring Meeting is about the various factors to be considered in determining the interest margins for interest-sensitive life insurance, annuities and GICs, i.e. the difference in earned and credited rates including practical considerations. Valuing embedded options in assets and liabilities is also discussed.

Description: The article talks about market consistent pricing, how risk neutral pricing and real world pricing are not fundamentally different if used appropriately. And using that knowledge, a rather new concept called the risk-adjusted real world pricing, which is a method where a mixture of risk neutral and real world pricing to achieve a holistic view on pricing, will be introduced.

Description: This article discusses the importance, measurement and improvement of product development efficiency.

Description: The purpose of this paper is to examine the various profit objectives used in the development of a new product for a stock life insurance company. From Product Development Section Monograph, M-AS99-3.

Description: Feature article describing how the Society of Actuaries (SOA) partnered with the Association of Home Office Underwriters (AHOU) and the Canadian Institute of Underwriters to conduct research focused on new medical tests and markers that may have significance and relevance to the life insurance markets to get a sense of where underwriting practices are going in the future.

Description: This report explores ratemaking, examines the relationship of gross premiums and profit margins, suggests criteria for measuring contingency and profit margins, discusses the types of assumptions suitable for calculating nonparticipating rates and presents the mathematical technique to determine the premium. A discussion of the paper follows.