Description: Pricing longevity swap reinsurance transactions consists of a number of different actuarial tasks, each of which hides potential pitfalls. The article outlines the pricing process, which includes a detailed analysis of current mortality experience of the portfolio to be transferred, choice and calibration of an appropriate model for mortality improvement trends and the calculation of a risk margin which reflects the uncertainty associated with the pricing best-estimate, which includes mis-estimation risk, model risk, longevity basis risk and stochastic uncertainty.

Description: Trends in mortality have a huge impact on the insurance industry and its products, risks and profitability. Worldwide, life expectancy has increased continuously over the past decades. However, this progress—even without considering the Covid-19 pandemic—has been subject to strong fluctuations. In recent years, an increase in volatility can be observed. Various aspects—medical science, environment, lifestyle—have influenced the trend in the past. How can the life and health industry move forward in these uncertain conditions? In this article, we examine what has gone before and what can be learned from a closer analysis. What are the main drivers of the historical increase in life expectancy? What characterizes the dynamics of the recent past? How can mortality be projected into the future? How good are our methods of prediction and what are the risks? What risk management options are available?

Description: Feature article with helpful hints on video conferencing and more!

Description: This article is an interview with Emma McWilliam about her book, Longevity Risk. The author has expertise in longevity and annuities having worked on the first bulk annuity transfers in the market, advising on the acquisition of blocks of annuities, setting longevity pricing bases, assisting on the risk management of annuities, and developing longevity bond and swap structures for the transfer of risk to the capital markets.

Description: Effective risk management of a portfolio demands accurate and succinct models which explain the main risk factors. We look at the various requirements we demand of a model, and find that they can all be met with an import from medical statistics: survival models.

Description: The article discovers that mortality is higher for females than for males at higher ages, and suggests "stress" as the explanation. It then discusses mental illness research, including recovery therefrom.

Description: This article discusses how understanding the drivers of mortality and morbidity is essential for identifying and developing suitable business opportunities.

Description: Life reinsurance activity in Bermuda has experienced rapid growth in recent years. This article explores the key drivers of this growth.

Description: Average life expectancy has increased throughout the ages, but can this life expectancy trend continue indefinitely? From Reinsurance Section News, May 2005, Issue No. 55.

Description: Heart disease, critical illness insurance and the path to change – a personal essay by Jing Lang, FSA, FCIA, FLMI.