Presentation - Society of Actuaries in Ireland

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Sample Product Design (Section 5)• Guaranteed Minimum Withdrawal Benefit for life• 5% pa of original premium guaranteed income at age65 for life• Annual Step-Up (subject to 15% maximum to age 75)• 60% Equity Backing Ratio• Charge for Guarantee 0.75% pa
Customer Outcomes (Section 6)• Stochastic Analysis of outcomes• Initially examine two selected scenarios – onebad (38) and one good (81)• Compare VA with income drawdown• Then move on to probability distributions ofoutcomes• Treating Customers Fairly considerations
Page 1 and 2: Variable AnnuitiesSociety of Actuar
Page 3 and 4: Introduction (Section 1)• Variabl
Page 5 and 6: Definitions (Section 2)• GMDB - G
Page 7 and 8: US Variable Annuity Sales ($bn)Sour
Page 9: European and Asian Developments•
Page 13 and 14: Simulation 81 - Fund Value and Guar
Page 15 and 16: Probability Distribution - Income f
Page 17 and 18: Key Market Risks (Section 9)• Equ
Page 19 and 20: Pricing (Section 7)• Key elements
Page 21 and 22: Price to the customer• Range of f
Page 23 and 24: Hedging Techniques• Dynamic Hedgi
Page 25 and 26: Impact of Hedging - Examples• We
Page 27 and 28: Projection over time - Unhedged
Page 29 and 30: Measures of Economic Capital at Ris
Page 31 and 32: Solvency Margin• Products carry i
Page 33 and 34: Market ConditionsFTSE 10010 Year Eq
Page 35: Discussion Topics (2)• Will hedgi

Presentation - Society of Actuaries in Ireland

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