FIA and Structured Annuities Product Development: The Latest Update

Only available as part of a package

This session will review and discuss the recent trend of FIA and Structured Annuities new product development, illustrate the differences and similarities between these two types of products, and discuss how insurance carriers may effectively manage the capital market risk from derivative hedging perspective. Special emphases will be on (1) the performance of customized FIA indices during the recent economic cycles, relative to benchmark equity indices such as S&P 500, and (2) the latest product designs of Structured Annuities and offering rates by insurance carriers.

The purpose of this session is to keep the audience abreast of the current state U.S. retirement industry landscape, with a particular emphasis on Fixed Indexed Annuities and Structured Annuities and discuss how insurance carriers may leverage their existing hedging infrastructure and technique to provide effective capital hedging.

Nicholas E. Carbo, FSA, MAAA (Moderator)

Principal; Oliver Wyman

Nicholas Carbo is a Principal with the Actuarial Practice of Oliver Wyman and is based in Hartford. He has over fourteen years of experience working for life and annuity carriers. His experience has included product monitoring, experience studies, financial modeling, pricing, product development, and risk management.

Jee Shen, FSA, MAAA

Jee Shen is currently Vice President and Market Risk Consultant at Wells Fargo. Jee joined Wells Fargo Reinsurance in 2012 as a Reinsurance Senior Actuary. In his role, he worked with insurance company clients to develop life and annuity reinsurance solutions and executed a number of transactions. Jee has 27 years of actuarial and risk management experience in the life insurance and annuity space. Prior to joining Wells Fargo, he worked for a number of large insurance companies based in U.S. Most recently he was with ING U.S. Financial Services (now Voya Financial) for 9 years, primarily focusing on annuity product development, pricing and enterprise risk management. Jee is a Fellow of Society of Actuaries and a Member of American Academy of Actuaries. He is also a CFA charter holder. He received his Bachelor’s Degree in Applied Mathematics from Shanghai Jiao Tong University in China and his Master’s Degree in Mathematics from Penn State University.

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