Description: This report presents the results of the most recent study of individual life insurance lapse experience in the United States conducted jointly by LIMRA International and the Society of Actuaries (SOA).

Description: This report examines options for analyzing periodic changes in VM-20 reserve amounts.

Description: This research report on the effect of deflation or high inflation has six sections: 1. The first section provides background on inflation, describes some problems in measuring inflation, and explains some of its effects on an economy. 2. The second section reviews historical inflation rates. 3. The third section examines the effect of inflation or deflation on the property-liability and life insurance industries. 4. The fourth section proposes risk mitigation strategies for insurers to cope with either deflation or high inflation rates. 5. The fifth section describes a publicly available model that can be used to develop inflation/deflation projections under a regime switching format that can readily be adjusted to reflect current financial uncertainty. 6. The sixth section provides conclusions.

Description: 2012 SOA Expenses Study Workshop Universal Life Company Information form.

Description: Initiated by the Financial Reporting Section, this paper explores rising interest rates. Following this path, the paper will look at implications of interest rate changes for the life insurance industry, current stress testing practices, and how a risk manager can proactively prepare for an uncertain future. A paper published in 2014 focused on why rates could stay low, and some aspects of this paper are similar (e.g., description of insurance products). This paper also uses a sample model office to help practitioners look at their own exposures. It includes typical interest-sensitive insurance products and how they might perform across various scenarios, as well as a survey to establish current practices for how insurers are testing interest rate risk currently.

Description: This paper studies the theorem for probability of up-crossing before down-crossing by a Levy process, insurance reserve, having both sided jumps given by Asmussen and Albrecher.

Description: Historical information on Korea's life insurance business.

Description: The strategic approach that the banking industry in Latin America is taking to entering the bancassurance market to leverage the opportunity with their customer base.

Description: Details are told about the life insurance market in the Philippines. Pre-need and savings plans for education are emphasized.

Description: This article discusses the development process and the impact of implementing levelized commission products.