Presentation - Society of Actuaries in Ireland

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Discussion Topics (1)• Is the authors’ optimism regarding theprospects for the product justified ?• Is there a genuine consumer benefit from theseproducts ?• Will domestic companies succeed in this marketor will companies with established track recordselsewhere dominate ?
Discussion Topics (2)• Will hedging techniques perform as intended inextreme market conditions ?• What changes to legislation would facilitatebetter outcomes for the customer (andacceptable outcomes for HMRC) ?• Are actuaries well equipped to develop andmarket these products ?
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 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: Market ConditionsFTSE 10010 Year Eq

Presentation - Society of Actuaries in Ireland

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