Description: This paper describes some of the minimum guaranteed death and maturity benefits that have been offered or proposed in conjunction with variable annuity contracts, proposes prospective reserves for these guarantees based on change factors that are somewhat analogous to interest factors used in typical life reserves, and proposes a set of change factors.

Description: Milliman, Inc. Milliman was retained by the Society of Actuaries SOA to perform certain actuarial analyses with respect to the Z-Factor methodology under a principles-based approach PBA to statutory reserve and capital. Under PBA, the Z-Factor is a measure of margin in excess of the best estimate assumptions embedded in the statutory reserves of a life insurance product or block of business.

Description: A review of recent trends in immediate non-refund annuity mortality and a presentation of a modification of the a-1949 Table with Projection Scale B which reflects these recent mortality trends. Followed by several discussion papers submitted

Description: These are submitted discussion papers on the paper, 'Annuity Mortality' by Walter G. Bowerman.

Description: This report summarizes a research project examining the proposed principle-based framework for reserves and capital for life insurance. The report is a review and analysis of case studies submitted by participating companies in response to proposed changes in individual life insurance statutory reserve and risk-based capital methodologies.

Description: This article develops an approximate method for computing the death benefit portion of an annuity reserve for annuities, such as cash refund annuities. From Transactions of Society of Actuaries 1968, Vol. 20, Pt. 1, No. 56.

Description: This paper discusses some of the main principles of classical life contingencies generalized and formulated in the language of probability theory and develops generalized and exponential reserves. From Transactions of Society of Actuaries 1976, Vol. 28.

Description: An analysis of how to compute the variance of the present value of future annuity payments as a component of assessing the mortality component of the provision for adverse deviation in the computation of GAAP reserves.