Description: This paper covers the 1969 amendments to the Income Tax Act of Canada, which radically altered the taxation of life insurance proceeds and life insurance companies. It also covers prior tax bases and the 1967 recommendations of the Royal Commission on Taxation upon which the 1969 amendments were based. Finally, it discusses the interrelationship of the taxation of the policyholders and the insurer, and it compares the tax treatment of stock vs. mutual companies, life and non-life insurers, and resident vs. non-resident business and insurers.

Description: This paper is a review of H R 10 establishing tax deferred retirement plans - Keogh Plans- for the self employed.

Description: This report looks at closed form models or 'exact solutions' in which calculus produces 'simple' formulae. The conclusion is that for Gaussian interest rate models we can solve the problem of an American option provided the option holder behaviour can be described by a force of option exercise which is linear or quadratic in the state variables.

Description: Report summarizing the results of the 2015 PBITT UL with Secondary Guarantees Survey.

Description: The paper describes an approach for determining reserves for reinsurance accepted for use in financial statements prepared according to generally accepted accounting principles. Followed by a discussion paper submitted

Description: This paper describes the history of the first United States Government Actuary, Ezekiel B. Elliot and his successors, including the types of services these actuaries performed. This article is followed by a discussion by several authors.

Description: The estimation of adequate reserves for outstanding claims is one of the main activities of actuaries in property/casualty insurance. The need to estimate future claims has led to the development of many loss reserving techniques. This paper is about the situation that occurs in claims reserving when there are negative values in the development triangle of incremental claim amounts. Typically, these negative values will be the result of salvage recoveries, payments from third parties, total or partial cancellation of outstanding claims due to initial overestimation of the loss or to possible favorable jury decision in favor of the insurer, rejection by the insurer, or just plain errors. Some of the traditional methods of claims reserving, such as the chain-ladder technique, may produce estimates of the reserves even when there are negative values. However, many methods can break down in the presence of enough [in number and/or size] negative incremental claims if certain constraints are not met. Historically the chain-ladder method has been used as a gold standard [benchmark], due to its generalized use and ease of application. A method that improves on the gold standard is one that can handle situations where there are many negative incremental claims and/or some of these are large. This paper presents a Bayesian model to consider negative incremental values, based on a three parameter log-normal distribution. The model presented here allows the actuary to provide point estimates and measures of dispersion, as well as the complete distribution for outstanding claims from which the reserves can be derived. The model applies Markov Chain Monte Carlo [MCMC] using the package WinBUGS.

Description: This discussion is about the mortality margins and mortality rates. From Transaction of Society of Actuaries 1961 Vol. 13 pt. 2

Description: This paper which was presented at the 1991 Acturial Research Conference explores the use of nonparametric regression methods to estimate medians and other quantiles.

Description: The Society of Actuaries’ Pension Section has completed a research effort exploring the value of longevity pooling and its implications.