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

Description: ASU 2018-12 introduced a new concept called “market risk benefits” (MRBs). MRBs are a new accounting classification for benefits within deposit contracts, offering protection from “other than nominal market risk.” This applies to products with account values, including variable and indexed annuities with guaranteed living or death benefits attached (aka GMxBs). ASU 2018-12 Section 944-40-30-19D mentions both a non-option and an option-based valuation approach to account for MRBs. This article considers the option-based approach. The purpose is to highlight weaknesses in the current application of the option approach to MRBs, propose an alternative method, and consider the benefits of the new approach. The intent of this article is to persuade practictioners / actuaries / accountants that this is a better approach for applying the fair value option method to market risk benefits.

Description: Discusses the interactions between dynamic lapses and interest rates in stochastic modeling for variable annuities.

Description: The IRS believes that any segregated asset account comprised of a pool of individual securities will run afoul of the investor control doctrine. This article articulates that such a conclusion would be deeply flawed based on the administrative, congressional, and judicial precedents involving the investor control doctrine.

Description: This document requests intents to participate and provides data submission instructions for the 2008 to 2013 Canadian Segregated Fund Policyholder Behavior Experience Study.

Description: An overview of the evolution of equity-based guarantees (e.g. VA, FIA, etc.) over the last few years and discussion the current lay of the land as it relates to the regulatory, issues, capital markets environment in which these products are offered.

Description: Discusses the problem with the computation of tax reserves for VA contracts with Guaranteed Living Benefit riders that were issued prior to December 31, 2009.

Description: This is a report on the PBITT Working Group's fourth survey to gather the assumptions actuaries use in pricing, reserving, and risk management of minimum guarantees on Variable Annuity products, such as death benefits, income benefits, withdrawal benefits and maturity benefits.