AXIS Module - Annuity

Uses of the AXIS Annuity Module include the following for both fixed and variable annuity products:

• Pricing and design
• Valuation
• Financial Statements
• Statistics on number of lives and total face amounts
• Cashflow projection and testing
• Surplus adequacy testing
• Embedded Value and appraisal
• Asset liability management
• Required Surplus
• Aggregate stochastic reserve and capital requirement based on CTE methodology
• C3 Phase 2 capital requirements for US Variable Annuity products
• Stochastic analysis
• Margin analysis

Fixed annuities can be modeled as:

• Accumulation phase,
• Payout phase, or
• a combination of both phases

Variable annuity features include:

• Guaranteed Minimum Death Benefits (GMDB)
• Guaranteed Minimum Accumulation Benefits (GMAB)
• Guaranteed Minimum Income Benefits (GMIB)
• Guaranteed Minimum Withdrawal Benefits (GMWB)
• Earnings Enhancement Benefits (EEB)
• Canadian Segregated Fund product guarantees

The AXIS Annuity Module contains a comprehensive collection of features for modeling annuity policies:

• Multiple policyholder investment accounts choices
• Multiple reinsurance treaties
• Policyholder behavior modeling
• Dynamic Valuation

Additionally the AXIS Annuity Module supports many reserves methods, including:

• Principles-Based Valuation (US)
• Policy Premium Method (PPM)
• Fund value
• Fund - surrender charge
• Cash value
• Fund - DAC
• Simple discount method
• Zillmer
• CARVM (AG33 and AG34)
• Fund - DAC (straight-line, adjust for surrender charge)
• Constant yield (FAS91) (payout phase only)

Up to 6 reserve bases may be run simultaneously.