Description: Reinsurance has been available for VA Guarantees for over 20 years. During that time, the reinsurance market for VA Guarantees has undergone frequent and sometimes violent transformations. Where does the market stand today? What forms and structures of reinsurance are available? Which VA Guarantee designs and features are easier to reinsure? Is reinsurance offered on both newly issued policies as well as in force/legacy books, and which vintages are difficult to reinsure? In an age of sophisticated hedging programs, what role does a reinsurer play in helping a VA writer manage this highly volatile risk? In this session, we will hear from a reinsurer that is actively writing new VA Guarantee reinsurance treaties in the U.S. and around the world, and from a VA writer that has successfully partnered with a reinsurer to enhance its VA product offering.

Description: This speech shares the practical experience of platform construction in the actuarial practice work of Ping An People Life, at the same time, shares the development mode of the actuarial system combining online and offline, and summarizes and expounds the advantages and disadvantages of this mode.

Description: The presentation will outline the different possibilities insurance companies have to hedge their equity risk for the various products.

Description: In recent years, the domestic insurance brokerage channel has witnessed significant breakthroughs. As a company with multi-channel development strategy, Aviva-Cofco Life also faces the challenge of channel conflicts in the rapid growth of both individual and brokerage channels. The presenter will share Aviva-Cofco's experiences, lessons learnt, gains and losses in product development in response to channel conflict, and introduce some of the practices of foreign markets for reference.

Description: The speakers will discuss the replication of long-term options, including a discussion of issues such as liquidity, transaction costs, slippage, impact of policyholder behavior, and machine learning algorithms to improve hedge effectiveness.

Description: The speaker will discuss the training of neural networks to compute future Greeks of liabilities (or options) without the use of nested stochastics.

Description: The speaker of this session will discuss some common difficulties one encounters when dealing with exotic equity linked derivatives. In particular, a study of a Monthly Sum Cap (MSC) will be presented. Pricing issues, along with dynamic hedging, as well as projections of MSC into the future will also be discussed. Time permitting, some aspects of historical performance will also be addressed

Description: The NAIC has adopted revised VM-21 and AG43 for variable annuities, effective Jan. 1, 2020. The panel of presenters will provide background and an overview of the revisions, discuss detailed aspects of the new CTE Amount Standard Projection and prescribed assumptions, as well as discuss implementation considerations and the implications to hedging. In addition, the panelists will share progress on VM-23, principle-based reserves for non-variable annuities.

Description: Representing a large indexed annuity writer, the speakers will discuss the growth and evolution of the market for index annuity products. Moreover, the challenges that growth has introduced and how those challenges are being met. While much of the market consists of simple, accumulation-oriented S&P 500 based strategies with 0% return floors, a significant portion of industry sales come from more complex products with highly customized index strategies and other features, such as living benefit guarantees. Attendees will gain a broad understanding of the indexed annuity market, product and features, operational difficulties in risk management arising from product design, and how actuarial and hedge professionals are managing these issues.

Description: This practical session would provide a technical overview about GLM techniques and describe how GLM can be applied as a business tool in solving business problems in life insurance. The session would also focus on recent real-world case-studies across different functional areas like pricing, fraud detection, underwriting and product development.