Presentation - Society of Actuaries in Ireland

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Key Non-Market Risks• Lapse behaviour (or turning off guarantee)• Mortality/Longevity• Funds chosen by the policyholder• Start of withdrawals• Amount of withdrawals per annum• Business mix – ages, genders etc
Pricing (Section 7)• Key elements for market consistent pricing• Economic scenario generator• Model to project guarantee income and claimpayments• Assumptions on key variables• Mortality• Lapse, including dynamic behaviour if appropriate• Election rates• Etc.
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 and 10: European and Asian Developments•
Page 11 and 12: Customer Outcomes (Section 6)• St
Page 13 and 14: Simulation 81 - Fund Value and Guar
Page 15 and 16: Probability Distribution - Income f
Page 17: Key Market Risks (Section 9)• Equ
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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