Financial Guarantees in Brazilian Life Insurance and Pension Plans

2009 ◽  
Author(s):  
William Eid Jr. ◽  
António Simões-Pereira
Keyword(s):  
Life Insurance ◽  
Pension Plans

scholarly journals The Casualty Actuarial Society and Actuarial Studies in development of Non-Life Insurance in North America

1958 ◽  
Vol 1 (1) ◽  
pp. 28-31
Author(s):  
L. H. Longley-Cook
Keyword(s):  
North America ◽  
Life Insurance ◽  
Early Life ◽  
Pension Plans ◽  
Insurance Companies ◽  
Special Interests ◽  
Scientific Approach ◽  
Actuarial Studies ◽  
Cross Fertilization ◽  
Independent Organization

Thank you, Mr. Masterson, Sir George and friends. Mr. Masterson told you that Mr. Longley-Cook was going to give this report originally. Since he can't, he has turned it over to me, and I shall deliver it practically the way he has written it.The profession of actuary originating in the need for a scientific approach to the problems of early life insurance companies, has broadened its scope over the years, and many actuaries now provide valuable contributions to the scientific study of problems in insurance, commerce and industry which are completely unrelated to life insurance. Because a large majority of actuaries are concerned, however, with problems of life insurance and pension plans, those outside these fields have felt the need for an association which is concerned with their special interests.I feel most honoured to take part in the birth of Astin, an association for the study of insurance problems outside of the life insurance field. It was most wise that Astin has been formed as a section of the International Congress and not as an independent organization because, although our problems may be different, we will gain much in our mutual association.A specialist should not, in his devotion to his particular line of study, lose touch with the broader and more general developments of science. Cross-fertilization of ideas can, on many occasions, prove invaluable. It was over 48 years ago that Mr. Stanley Otis and others suggested that a society of actuaries and statisticians of liability companies be formed. Some five years later, the Casualty Actuarial and Statistical Society of America—later to be known by the shorter title of Casualty Actuarial Society—was inaugurated.

scholarly journals LIFE INSURANCE AND PENSION CONTRACTS I: THE TIME ADDITIVE LIFE CYCLE MODEL

2014 ◽  
Vol 45 (1) ◽  
pp. 1-47 ◽  
Author(s):  
Knut K. Aase
Keyword(s):  
Life Cycle ◽  
Portfolio Choice ◽  
Life Insurance ◽  
Insurance Industry ◽  
Pension Plans ◽  
Life Cycle Model ◽  
Cycle Model ◽  
Pension Insurance ◽  
Insurance Contracts ◽  
State Dependent

AbstractWe analyze optimal consumption in the life cycle model by introducing life and pension insurance contracts. The model contains a credit market with biometric risk, and market risk via risky securities. This idealized framework enables us to clarify important aspects of life insurance and pension contracts. We find optimal pension plans and life insurance contracts where the benefits are state dependent. We compare these solutions both to the ones of standard actuarial theory, and to policies offered in practice. Implications of this include what role the insurance industry may play to improve welfare. The relationship between substitution of consumption and risk aversion is highlighted in the presence of a consumption puzzle. One problem related portfolio choice is discussed the horizon problem. Finally, we present some comments on longevity risk and cohort risk.

scholarly journals A draft Economic Democracy Directive for the European Union

2019 ◽  
Author(s):  
Ewan McGaughey
Keyword(s):  
European Union ◽  
Life Insurance ◽  
Trade Unions ◽  
Pension Plans ◽  
The European Union ◽  
Economic Democracy ◽  
Pay Gap ◽  
Fair Wages ◽  
The City ◽  
Asset Managers

The chasm between our political democracy and our economic absolutism is the single most important issue of our time. Today, in the European Union, a tiny group of asset managers and banks control most of the votes in the economy. They control shares in corporations, which control our workplaces, our pay, our security in retirement and our environment.These asset managers and banks oppose trade unions and fair wages. They support escalating pay for billionaire CEOs. They oppose action to stop discrimination at work and the gender pay gap. They oppose meaningful action to end climate damage. They are tearing our society and our planet apart.The voting power asset managers and banks control comes from other people’s money. It doesn’t belong to them. It belongs to us. It comes from Europeans saving for retirement, in pension plans, in life insurance, or mutual funds. But the share of workers’ capital in the stock market has been shrinking since the 1980s. Inequality has skyrocketed as workplace democracy and collective bargaining have been attacked. This has meant a declining share of income for labour, and growing share for the City, Frankfurt, La Défense or Milan.This is why we need a new Economic Democracy Plan for Europe. This paper contains a draft Economic Democracy Directive for the European Union that would democratise the economy, through votes at work, in capital, in public services, and secure public control of enterprises that drive climate damage.

Consideration of Marital Status in a Mortality Model and its Application for Mortality Risk Management

2016 ◽  
Vol 10 (2) ◽  
Author(s):  
Hyuk-Sung Kwon
Keyword(s):  
Risk Factors ◽  
Marital Status ◽  
Mortality Risk ◽  
Life Insurance ◽  
Pension Plans ◽  
Never Married ◽  
Mortality Model ◽  
Logistic Regression Method ◽  
Mortality Table ◽  
Actuarial Model

AbstractAs a variety of mortality risk factors have been identified by previous studies, it is desirable that these factors are reflected in mortality (longevity) risk assessments for life insurance, individual annuities, and pension plans. In this study, an extended traditional mortality table that accommodates marital status, which is one of the important risk factors in terms of mortality, is considered. A logistic regression method is used to model the mortality of groups of people with four different marital statuses–never married, married, widowed, and divorced. The analyses are based on data regarding mortality and changes of marital status in Korea. The results of the analyses that are based on the developed mortality model suggest that the information on risk factors must be reflected in an actuarial model to improve the evaluations and monitoring of risk for the portfolios of relevant insurance products.

scholarly journals Impact of COVID-19 on personal insurance sales – Evidence from Germany

2021 ◽  
Vol 5 (1) ◽  
pp. 80-86
Author(s):  
Gerriet Hinrichs ◽  
Henning Bundtzen
Keyword(s):  
Life Insurance ◽  
Pension Plans ◽  
Customer Relationships ◽  
Personal Contact ◽  
Face To Face ◽  
Scientific Discussion ◽  
Insurance Agent ◽  
Seasonal Volatility ◽  
Relationship Of ◽  
The Impact

The occupation of insurance agent involves establishing a relationship of trust with the customer and providing personal and customized advice as a prerequisite for successful sales. This paper summarizes the scientific discussion about the occupation of an insurance salesperson. Coronavirus disease 2019 restrictions have limited face-to-face meetings and complicated large parts of this occupation. The main purpose of the research is to analyze the impact of these restrictions on the sales of 130 insurance branches, comparing the sales of 2019 and 2020 separately by insurance type. This period was chosen because it allows for the usual seasonal volatility to be taken into account. To differentiate according to the type of insurance sold is therefore of interest, because large differences with regard to demand generation and the use of existing customer relationships are to be expected. It shows that consulting-intensive new contracts in the life insurance segment declined noticeably, while the upselling of existing contracts in the non-life insurance segment increased significantly. The research empirically confirms and theoretically proves the importance of personal contact with the customer in the sale of life insurance and pension plans as well as the value of technical tools in upselling non-life policies. The insights from this exceptional coronavirus disease 2019 episode can also be useful in normal times for sales managers in managing insurance premiums to be sold. Further research as well as practitioners should concentrate on shock-resistant consulting approaches and techniques.

scholarly journals Group Life Insurance and Pension Plans

1961 ◽  
Vol 37 (4) ◽  
pp. 458-460
Author(s):  
J. J. E. Dosne
Keyword(s):  
Life Insurance ◽  
Pension Plans ◽  
Group Life

Life Insurance in Canada—Some Aspects and Recent Developments

1958 ◽  
Vol 26 ◽  
pp. 463-546
Author(s):  
G. T. Westwater ◽  
J. C. Burns
Keyword(s):  
Life Insurance ◽  
Pension Plans ◽  
List Type ◽  
Ordinary Life ◽  
Professional Societies ◽  
Group Life ◽  
Recent Developments ◽  
Insurance Business

SynopsisThe paper describes certain aspects of life insurance business in Canada under the following headings :—(a) Legislation and regulation, both federal and provincial(b) Taxation(c) Investment of funds(d) Agency system(e) Ordinary life insurance, including a description of some current developments(f) Group pension plans(g) Group life insurance(h) Actuarial and professional societies.In dealing with the above subjects emphasis has been placed on matters where the Canadian practice may differ somewhat from the British.

Tuesday Evening

PMLA ◽  
1935 ◽  
Vol 50 (4) ◽  
pp. 1357-1357
Keyword(s):  
Life Insurance ◽  
Insurance Company ◽  
Life Insurance Company ◽  
Local Committee ◽  
Tuesday Evening

On Tuesday evening the members of the Association, and attending members of their families, were entertained with a buffet supper at the Queen City Club at 7:30 p.m. at the invitation of Messrs. Joseph S. Graydon, John J. Rowe, and other Cincinnati friends of the Association. Following this supper an entertainment arranged by the Local Committee was presented in the Hall of the Western and Southern Life Insurance Company. Attendance: about 900.

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