Period life expectancy by age and sex for the UK. Each national life table is based on population estimates, births and deaths for a period of three consecutive years. Tables are published annually.

ABSTRACT This study aimed to set upper and lower bounds for the expected present value of whole life annuities and whole life insurance policies from incomplete mortality data, generalizing previous results on life expectancy. Since its inception, in the 17th century, actuarial science has been devoted to the study of annuities and insurance plans. Thus, setting intervals that provide an initial idea about the cost of these products using incomplete mortality data represents a theoretical contribution to the area and this may have major applications in markets lacking historical records or those having little reliability of mortality data, as well as in new markets still poorly explored. For both the continuous and discrete cases, upper and lower bounds were constructed for the expected present value of whole life annuities and whole life insurance policies, contracted by a person currently aged x, based on information about the expected present value of these respective financial products subscribed to by a person of age x + n and the probability that an individual of age x survives to at least age x + n. Through the bounds of a continuous annuity, in an environment where the instantaneous interest rate is equal to zero, the results shown also set bounds for the complete life expectancy, which implies that the contribution of this research generalizes previous results in the literature. It was also found that, for both annuities and insurance plans, the length of constructed intervals increases as the data gap size increases and it decreases as the survival curve becomes more rectangular. Illustratively, bounds for life expectancy at 40 and 60 years of age, for the 10 municipalities showing the highest life expectancy at birth in Brazil in 2010, were constructed by using data available in the Atlas of Human Development in Brazil.

This table contains mortality indicators by sex for Canada and all provinces except Prince Edward Island. These indicators are derived from three-year complete life tables. Mortality indicators derived from single-year life tables are also available (table 13-10-0837). For Prince Edward Island, Yukon, the Northwest Territories and Nunavut, mortality indicators derived from three-year abridged life tables are available (table 13-10-0140).

Mortality experience data from 2009 through 2013 on individual payout annuities

Mortality experience data from 2009 through 2013 on structured settlements

Mortality and morbidity experience data from 2010 through 2013 on group insurance policies

This table contains mortality indicators for Canada and provinces for the period 1980/1982 to 2013/2015. Complete mortality tables are available for men, women and both sexes combined.

Period life expectancy by age and sex. Each life table is based on population estimates, births and deaths for a single year.

This study examines occupation-based differences in life expectancy and the extent to which health accounts for these differences. Twentyseven-year survival follow-up data were used from the Dutch population-based Longitudinal Aging Study Amsterdam (n = 2,531), initial ages 55–85 years. Occupation was based on longest-held job. Results show that the non-skilled general, technical and transport domains had an up to 3.5-year shorter life expectancy than the academic professions, accounting for the compositional characteristics age and gender. Statutory retirement age could be made to vary accordingly, by allowing a proportionally greater pension build-up in the shorter-lived domains. Health accounted for a substantial portion of the longevity difference, ranging from 20 to 66%, depending on the health indicator. Thus, health differences between occupational domains today can be used as a means to tailor retirement ages to individuals’ risks of longevity. These data provide a proof of principle for the development of an actuarially fair method to determine statutory retirement ages.

The statistic shows the leading life actuarial firms in the United States in 2015, by loss reserves. An actuarial firm is a company that deals with the financial impact of risk and uncertainty. They provide assessments of financial security systems mathematically and evaluate the probability of events and quantify the contingent outcomes in order to minimize the impact of financial losses. The leading life actuarial firm in the United States in terms of loss reserves was Milliman, Inc. The Seattle-based firm had loss reserves amounting to 7.29 billion U.S. dollars in 2015.

Mortality experience data from 2009 through 2015 on fully underwritten individual life insurance policies

The concept of actuarial senescence (defined here as the increase in mortality hazards with age) is often confounded with life span duration, which obscures the relative role of age-dependent and age-independent processes in shaping the variation in life span. We use the opportunity afforded by the Species360 database, a collection of individual life span records in captivity, to analyze age-specific mortality patterns in relation to variation in life span. We report evidence of actuarial senescence across 96 mammal species. We identify the life stage (juvenile, prime-age, or senescent) that contributes the most to the observed variation in life span across species. Actuarial senescence only accounted for 35%–50% of the variance in life span across species, depending on the body mass category. We computed the sensitivity and elasticity of life span to five parameters that represent the three stages of the age-specific mortality curve—namely, the duration of the juvenile stage, the mean juvenile mortality, the prime-age (i.e., minimum) adult mortality, the age at the onset of actuarial senescence, and the rate of actuarial senescence. Next, we computed the between-species variance in these five parameters. Combining the two steps, we computed the relative contribution of each of the five parameters to the variance in life span across species. Variation in life span was increasingly driven by the intensity of actuarial senescence and decreasingly driven by prime-age adult mortality from small to large species because of changes in the elasticity of life span to these parameters, even if all the adult survival parameters consistently exhibited a canalization pattern of weaker variability among long-lived species than among short-lived ones. Our work unambiguously demonstrates that life span cannot be used to measure the strength of actuarial senescence, because a substantial and variable proportion of life span variation across mammals is not related to actuarial senescence metrics.

ABSTRACT The aim of this article was to evaluate the viability of Universal Life insurance (UL) in Brazil from two perspectives: from the individual viewpoint of policyholders, considering different client profiles and investment scenarios; and from the company viewpoint, verifying whether insurers see sales advantages in UL. Thus, despite the lack of definition of the regulations on these contracts by the Superintendence of Private Insurance (Susep), this article’s contribution lies in evaluating UL - a typically American product - in Brazil, using an entirely actuarial methodology, for policyholders and insurers, according to local parameters. The relevance of the article lies in strengthening the support for individuals, companies, and authorities to evaluate the product and discuss its implementation, even identifying the most favorable profiles and scenarios for its development. Although the UL is an individual modality that is widespread in several countries and its design exploits well-defined attractions, the product has not been explored in the national literature. The methodology adoted in this study used fully actuarial modeling, the internal rate of return (IRR), and profit testing. The study reveals that the Brazilian market for UL is viable, especially due to the higher interest rates compared to countries where the product is already widespread. From a demand perspective, the results indicate that the policyholder would be in a more advantageous position acquiring UL than buying life insurance in the private market and investing the surplus in financial assets, due to the hybrid characteristic of the contract, which enables the use of financial returns as discount factors in the insurance portion and operational charges, reducing the opportunity costs linked to the product. With regard to companies, the profit testing results suggest there are stimuli for the supply of UL, provided the operation has a long-term bias. Altering the mortality pattern, policy type, and the company’s investment profile, all the results point in a similar direction.

This table contains 2394 series, with data for years 1991 - 1991 (not all combinations necessarily have data for all years). This table contains data described by the following dimensions (Not all combinations are available): Geography (1 items: Canada ...), Population group (19 items: Entire cohort; Income adequacy quintile 1 (lowest);Income adequacy quintile 2;Income adequacy quintile 3 ...), Age (14 items: At 25 years; At 30 years; At 40 years; At 35 years ...), Sex (3 items: Both sexes; Females; Males ...), Characteristics (3 items: Life expectancy; High 95% confidence interval; life expectancy; Low 95% confidence interval; life expectancy ...).

The Office of the Actuary in the Centers for Medicare and Medicaid Services (CMS) from time to time conducts studies on various aspects of the Medicare and Medicaid programs. The available studies include the following-

Medicare Financial Status, Budget Impact, and Sustainability-Which Concept is Which, Actuarial Report on the Financial Outlook for Medicaid, Estimated Impact of Health Care Reform Proposals, Analysis of volume-and-intensity response to a price change for physicians services, Analysis of expenses in the last year of life.

Central mortality rates by age and sex up to 2050, conditioned to the three risk factors under consideration (income, habitat size, and climate area), using georeferenced microdata from the population of Spain. This project contains two open-format files (please also read the Read me.xlsx).

The file called "Estimates of death rates,Spain 2010-2019,by risk factor.csv" offers the results of converting nearly two billion microdata events into estimates of central mortality rates for each risk factor, categorised according to various variables. Spain 2010-2019.

The file called "Forecasts of death rates,Spain 2020-2050, by risk factor.csv" includes the projections of the death rates from 2020 to 2050.

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The Office of the Actuary in the Centers for Medicare and Medicaid Services (CMS) from time to time conducts studies on various aspects of the Medicare and Medicaid programs. The available studies include the following-

Medicare Financial Status, Budget Impact, and Sustainability-Which Concept is Which, Actuarial Report on the Financial Outlook for Medicaid, Estimated Impact of Health Care Reform Proposals, Analysis of volume-and-intensity response to a price change for physicians services, Analysis of expenses in the last year of life.

The Office of the Actuary in the Centers for Medicare and Medicaid Services (CMS) from time to time conducts studies on various aspects of the Medicare and Medicaid programs. The available studies include the following-

Medicare Financial Status, Budget Impact, and Sustainability-Which Concept is Which, Actuarial Report on the Financial Outlook for Medicaid, Estimated Impact of Health Care Reform Proposals, Analysis of volume-and-intensity response to a price change for physicians services, Analysis of expenses in the last year of life.

Actuarial Service Market Outlook

The global actuarial service market size was valued at approximately $XX billion in 2023 and is projected to reach around $XX billion by 2032, growing at a CAGR of YY% during the forecast period. This robust growth is fueled by the rising need for risk management and accurate financial forecasting across various sectors. The increasing complexity of regulatory frameworks and the expansion of the insurance and financial services industries are significant growth drivers for the actuarial services market.

One of the major growth factors contributing to the expansion of the actuarial service market is the increasing awareness and importance of risk management. Organizations across various sectors, including insurance, healthcare, and finance, are recognizing the need for comprehensive risk assessment strategies to manage financial uncertainties effectively. The integration of advanced analytics and data modeling techniques in actuarial services is enhancing the accuracy of risk predictions, thereby driving market growth. Moreover, the growing trend of digitization and the adoption of cloud-based solutions are enabling actuarial service providers to offer more scalable and efficient solutions.

Another critical factor propelling the market growth is the rising complexity of regulatory requirements in the financial and insurance sectors. Governments and regulatory bodies worldwide are implementing stringent policies to ensure financial stability and consumer protection. This has led to an increased demand for actuarial services to help organizations comply with these regulations. Actuaries play a vital role in interpreting and implementing regulatory changes, thereby assisting companies in maintaining compliance and mitigating financial risks. Furthermore, the evolving nature of these regulations necessitates continuous updates and assessments, which in turn drives the demand for actuarial expertise.

The increasing focus on pension and retirement benefits is also a significant driver for the actuarial service market. With the aging population and the growing concern over retirement security, there is a heightened need for accurate and reliable pension planning. Actuarial services are crucial in designing and managing pension schemes, ensuring their sustainability and adequacy for future retirees. The shift towards defined contribution plans and the need for optimization of pension fund investments further boost the demand for actuarial services. Additionally, the trend of outsourcing non-core functions is encouraging organizations to rely on specialized actuarial service providers for managing their pension and retirement benefits.

Regionally, North America holds a substantial share of the actuarial service market, driven by the presence of major insurance companies and a well-established regulatory framework. The region is characterized by a high adoption rate of advanced technologies and a strong focus on risk management practices. Europe follows closely, with significant contributions from countries like the UK and Germany, where there is a strong emphasis on pension planning and insurance services. The Asia Pacific region is expected to witness the highest growth rate during the forecast period due to the expanding insurance sector, economic development, and increasing awareness about risk management.

Service Type Analysis

In the actuarial service market, the service types are categorized into life insurance, health insurance, property and casualty insurance, pension and retirement benefits, enterprise risk management, and others. The life insurance segment plays a pivotal role as it covers a wide range of actuarial tasks, including mortality analysis, premium calculations, and policy valuations. With the increasing demand for life insurance products in both developed and emerging markets, actuaries are essential in ensuring the financial stability and profitability of life insurance companies. Additionally, the rising awareness about the importance of life insurance for financial security is fueling the growth of this segment.

The health insurance segment is another critical area within the actuarial service market. Actuaries in this segment are responsible for analyzing medical cost trends, setting premium rates, and developing strategies to manage healthcare expenses. The growing healthcare expenditure and the introduction of new healthcare policies have increased the demand for actuarial services in this segment. Moreover, the shift towards value-based care models and the need for managing chronic diseases have further emphasized