Description: Variable insurance products are popular in the marketplace. They are risky to insurers partly because the guaranteed minimum living and death benefits give policyholders great control of their policies. In this article, the author investigates managing policyholder behavior.

Description: Current risk management approaches for variable annuity business are not working very well in today's market turmoil.

Description: Structured-note annuities provide a retirement solution for the masses while allowing effective hedging and balance sheet usage for the insurance complex.

Description: This abstract describes a paper that proposes a change to the variable annuity fee structure that would lower fee rates without reducing the insurer's profit.

Description: This presentation establishes a bang-bang solution for the optimal withdrawal strategies.

Description: The purpose of this discussion is to introduce a few additional points and discuss how different assumptions will alter the results in some cases.

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

Description: There is no “industry standard” approach to managing the vega (volatility) risk inherent in Variable Annuity Guarantees, Fixed Indexed Annuities and other equity-linked obligations. In this session, we will introduce and analyze a range of reinsurance solutions, including full vega risk retention, full vega risk transfer and more sophisticated or custom structures that split the vega risk between the insurer and the reinsurer in various ways. We will also explore other approaches in bespoke risk coverage and show the impact of different assumptions on a generic “VA Guarantee Cost Estimate” that has been developed by Munich Re.

Description: In this session, a company will share its experience on managing risks underlying the equity-linked insurance guarantees and what lessons were learned over these years as it adapted its strategies to suit the current market environment.