Variable Annuities
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Variable Annuities

Variable Annuities


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About the Book

Table of Contents:
Introduction Tigran Kalberer and Kannoo Ravindran SECTION 1: VARIABLE ANNUITY PRODUCTS 1. History and Development of the Variable Annuity Market Mike Kaster; Marianne Purushotham Kaster Actuarial; Watson Wyatt 2. North American Variable Annuities Hubert Mueller Tillinghast 3. Australasian Variable Annuities Michael Winkler New Re 4. European Variable Annuities Lukas Ziewer; Yves Lehmann Oliver Wyman; Societe Generale SECTION 2: IDENTIFYING AND QUANTIFYING RISKS UNDERLYING VARIABLE ANNUITIES 5. Risks Underlying Variable Annuities Tigran Kalberer KPMG 6. Valuation of Variable Annuity Contracts Vinay Kalro, Jay Blumenstein and Joe Zhao Swiss Re 7. Valuation of Variable Annuity Guarantees Kirk Evans Samsung Life 8. Models used to Quantify Market Risks in Guarantees Dan Heyer Nationwide 9. Models used to Quantify Actuarial/Policyholder Behavioural Risks in Guarantees Tze Ping and Matt Wion Ernst & Young SECTION 3: MANAGING RISKS IN VARIABLE ANNUITY PRODUCTS 10. Overview of Commonly Used Risk Management Strategies Rajeev Dutt Milliman 11. Using Product Development to Manage Risks Adam Stolz AXA 12. Using Reinsurance to Manage Risks Michael Winkler New Re 13. Using Capital Markets to Manage Risks Yves Lehmann Societe Generale 14. Putting it all Together - from Dynamic to Static Kannoo Ravindran Annuity Systems Inc. SECTION 4: MONITORING AND REPORTING RISKS IN A VARIABLE ANNUITY HEDGING PROGRAMME 15. Measuring and Reporting Hedge Efficiency Mark Evans Aegon 16. Measuring the Effectiveness of a Hedging Strategy Jorg Sauren ING 17. Experiences and Lessons Learnt - Does Hedging Work? Mun Kurup and Warren Manners ING 18. Issues Relating to Running A Hedging Programme Kannoo Ravindran Annuity Systems Inc SECTION 5: ACCOUNTING AND REGULATION 19. An Overview of Insurance Regulations Sam Gutterman PricewaterhouseCoopers 20. Accounting: IFRS and GAAP challenges Stefan Engelander KPMG SECTION 6: OTHER RELATED TOPICS 21. Quantifying and Managing Basis Risks Pin Chung Allianz Investment Management 22. Replication Portfolios and Hedging Tigran Kalberer KPMG 23. What do Analysts look for when Evaluating Companies Writing Variable Annuities? Darin Arita Deutsche Bank 24. What do Rating Agencies look for when Evaluating Companies Writing Variable Annuities? Scott Robinson Moody's Investors Service 25. Liquidity in Global Derivatives Markets Naveed Choudri and Edward Tom Credit Suisse

About the Author :
Tigran Kalberer has pioneered the application of market-consistent valuation techniques in life insurance during the last 20 years. He has applied risk management and notably ALM techniques for life insurance companies in a wide variety of situations. Tigran is a partner in the actuarial practice of KPMG. Kannoo Ravindran (Ravi). Since pioneering the use of derivatives to manage market risks embedded in variable annuities at a time when writers of such risks used only traditional reinsurance/retrocession or took on the risks naked, Ravi has been working on all aspects of variable annuity risk-management (including managing such risks on a total account value exceeding USD 100 billion) and product development. He currently also chairs the Equity Based Insurance Guarantee Conference Series held annually by the Society of Actuaries globally. Ravi is also a visiting professor at Haskolinn Reykjavik


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Product Details
  • ISBN-13: 9781906348212
  • Publisher: Risk Books
  • Publisher Imprint: Risk Books
  • Height: 235 mm
  • Width: 155 mm
  • ISBN-10: 1906348219
  • Publisher Date: 01 Dec 2009
  • Binding: Paperback
  • Spine Width: 30 mm


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