Description: This report explains the concept and construction of the Market Consistent Embedded Value (MCEV) measure, as well as its usefulness as a profit/risk measure relative to other profit/risk measures currently used by insurance companies for various products. The knowledge from this research will assist actuaries, corporate leadaers, risk management professionals and others in understanding, implementing and comparing MCEV to current risk assessment tools utilized by insurance companies.

Description: Excel file to be attached to cover sheet on this same 2005-2007 individual life persistency study. Contains the actual persistency experience data from the study.

Description: Sent to potential participants to gather information on different preferred class structures.

Description: The Society of Actuaries Product Development Section, the Modeling Section, the Reinsurance Section and the Financial Reporting Section announce the release of a new research report that introduces a novel framework for leveraging the "architecture" of an industry mortality table within a company's predictive analytics-based insured mortality analysis.

Description: This paper expands on the traditional three-factor interest, mortality, and expenses dividend contribution formula to propose a new dividend structure. The structure and formula are derived from the most generalized equation of equilibrium, and each dividend class is treated as an ongoing microcosm. From Society of Actuaries Financial Reporting Monograph, M-AS99-1.

Description: A commentary on whether or not the Illustrations Regulation has been successful.

Description: Read the Quo Vadis Reinsurance.

Description: This article discusses how small companies, by staying simple and focused and not taking immeasurably disastrous risks, bring sanity to an insane world.

Description: This article begins with a brief review of the treatment of QAB charges under the Code and the guidance the Internal Revenue Service the “Service” has issued regarding the manner in which taxpayers should account for QAB charges Part I. It then describes Rev. Rul. 2005-6’s three alternatives for addressing improper accounting for QAB charges Part II. It also includes a discussion about an Alternative C closing agreement.

Description: The Canadian Institute of Actuaries and Society of Actuaries Committee on Life Insurance Research, the Product Development Section and the Financial Reporting Section, sponsored this study investigating how the Canadian life insurance industry is utilizing predictive modelling.