Description: This paper, part of the Society of Actuaries [SOA} ‘Research Projects – Finance/Investment,’ combines market and economic factors with insurer-specific data to form dynamic financial models of life insurers. Empirical analysis is based on annual data from 1985 through 1995 for 1,593 life insurers. By identifying important exogenous and insurer-specific factors related to life insurer performance, this study provides a basis for actuaries to build dynamic financial models for individual insurers. There are two documents: the research paper in .pdf format and three charts in an Excel document. This paper has been submitted to the ‘North American Actuarial Journal’ for publication considerations.

Description: Discusses the reasons for, and the economic impacts of, the backdating of life insurance policies, and what changes in the industry might evolve to address them.

Description: In this session at the SOA 2003 Washington, DC Spring Meeting, the panelists discuss the value of deferred taxes to the owner of an IRA, 401k or similar product. The time it takes for tax-deferral benefits to overcome typical penalties levied on early distributions is reviewed. They also discuss the effect of tax deferral on the risk profile of investments.

Description: The Society of Actuaries seeks to provide actuaries of life insurance companies with a systematic approach for estimating the adverse effects of economic developments that could impede insurer performance. The performance measurements include 1. Return on Equity, 2. Return on Assets, and 3. Increase in Surplus and Capial. Toward that end, this study combines market and economic factors with insurer-specific data to form dynamic financial models of life insurers. Empirical analysis is based on annual data from 1985 through 1995 for 1,593 life insurers. By identifying important exogenous and insurer-specific factors related to life insurer performance, this study provides a basis for actuaries to build dynamic financial models for individual insurers. The study also identifies and describes several web sites that provide access to relevant economic and financial data. Also see the SOA website research page for excel spread sheets that have the charts that should be inserted in this report