Description: Explore real-life experiences implementing LDTI for traditional life and annuity products. Learn about strategies that worked well and pitfalls to avoid in the future. Topics include data and assumption management, building disclosures for attribution analyses and roll-forwards, discount rates, implementing new DAC calculations, reinsurance accounting methods, and risk-neutral ESGs and processes to calculate Market Risk Benefits.

Description: In the past decade, U.S. life and annuity insurance companies’ utilization of asset-intensive reinsurance internal reinsurance has grown significantly. Many reinsurers and insurers have set up entities or affiliates in Cayman, with many more in the pipeline. Here we will discuss Cayman’s reinsurance market growth momentum, and the main benefits that Cayman offers.

Description: In this article, we collected data from the companies’ roll-forward disclosures related to calendar years 2021 and 2022 on Market Risk Benefit and shared a high-level summary of the Market Risk Benefit volatility that a focus group of companies incurred and summarized the most common ways to mitigate volatility.

Description: Few product innovations have transfigured the variable annuity (VA) industry as much as guaranteed living benefits (GLBs).

Description: Dive into the released enhancements of MIM-2021, including a run through of its purpose and evolution, during this webcast. The Mortality and Longevity Strategic Research Program plans to release these updates in October. You will leave this webcast with an understanding of how to create a mortality improvement scale using the necessary steps and tools. Learn how to use MIM-2021 through instruction and demonstration that will properly prepare you to utilize this tool. There will be time for questions where you can ask about the projection process or provide feedback.

Description: Discover investing trends across the life and health industry as insurers seek to navigate rapidly changing rate and market environments. BlackRock will present results from its Peer Risk Study, which models industry holdings based on statutory filings at the CUSIP level. Through the Aladdin risk modeling software, expect a production of deep insights into insurer portfolio risk and return characteristics, as well as exploring how they have evolved. Keep an eye out for a partner to present on the evolution from their perspective. Start learning about what is happening on the asset side of the balance sheet across the industry.

Description: Life and annuity markets around the world have seen increasingly complex investment-combined products, including universal life, fixed indexed annuities, variable annuities with a wide variety of guaranteed benefits, indexed variable annuities, etc. Insurance companies are facing unprecedented exposure to financial risks in addition to traditional mortality and longevity risks. The risk assessment and modeling for such complex designs by conventional methods often focus heavily on their market competitiveness and profitability. However, there seems to be a lack of quantifiable and systematic approach to assess investment risks associated with investment combined products. The objective of the proposed work is to develop a framework for quantifying and analyzing various forms of contractual designs and showcase different techniques to assess the trade-off between competitive contractual designs and their practical implications with regard to the difficulty of risk management.

Description: Insurers are struggling to keep pace with rapidly changing economic conditions, customer needs and regulation. We at Oliver Wyman believe there is an opportunity for many insurers to generate more customer value and fuel their growth by rethinking their approach to Product Development.

Description: Since the last installment of the biennial WTW North America Life Insurance Pricing Methodology Survey in 2018, the market has been coming to terms with the prospect of “lower for even longer” interest rates and been confronted with the economic and social impacts of the COVID-19 pandemic. This article examines what effects these and market-specific factors have had on profit targets and pricing and reserving strategy. The survey looked at the profit objectives and assumptions used in pricing 2020 new issues of individual life and annuity products, with a focus on past practices, not future plans.

Description: This article gives a comprehensive overview of how a bank can establish a broader financial services program. Areas reviewed included the types of insurance products, the people, training and compensation, and the management structures.