Description: This session will present results of the most recent SOA/LIMRA studies of variable and fixed-indexed annuity policyholder behavior including withdrawal behavior, guaranteed living benefit elections and surrender activity. Conducted annually since 2006, a discussion on the results of these studies show how they have changed over time, as well as areas where the analysis will need to change or expand. After that, the presenters will focus on dynamic lapse for hot money businesses, which is an important topic for fixed deferred annuity. Key takeaways from this area will include an understanding how to differentiate between hot money and warm money, the different formulas used in the industry, and how to adjust an asset portfolio to protect against the risks associated with hot money businesses.

Description: This is an article about The SOA’s Committee on Life Insurance Company Expenses CLICE and its completion of its fourth inter-company study of expenses for individual life and annuity business issued in the United States.

Description: Experience-study instructions to contributors. Looks to develop inter-company information about expenses for many types of individual [not group] life and annuity products.

Description: A summary of the 2001 Individual Life and Annuity Expense Study

Description: Highlights from the 2002 Inter-Company Expense Study of U.S. Individual Life Insurance and Annuities.

Description: Milliman, Inc. recently conducted a survey of leading variable annuity insurers to better quantify the current dynamics of the GLB market. The scope of the Milliman survey included variable annuities that offered any type of GLB during calendar year 2004 and during the first quarter of 2005.

Description: The Individual Annuity Experience Committee of the Society of Actuaries has completed an experience study of individual payout annuities, covering calendar years 2009 through 2013. View the 2009-13 Individual Payout Annuity Experience Pivot Tables - Individual contract duration year.

Description: While our ability to access and analyze large quantities of data is better than ever, many long-term products suffer from sparse data in critical risk areas, such as deep in-the-money lapse experience and long-term utilization rates for income guarantees. The presenters will explore industry-level annuity experience data for these types of situations, and discuss quantitative approaches to addressing them in pricing and other applications.

Description: The study examines the GLB utilization of over 4.9 million contracts that were either issued during or in force as of 2014.

Description: Results of the 2005 inter-company study of expenses for individual life and annuity business conducted by the SOA’s Committee on Life Insurance Company Expenses, CLICE.