Genworth and other Companies Actuaries Change Long-term Interest rate assumption
We sat in on a meeting with the Genworth Financial’s Long Term Care Insurance President Buck Stinson yesterday. The meeting gave us confidence in the insurance industry as a whole when he said that Genworth, along with the other major carriers, have re-configured their actuarial assumptions and pricing to accommodate for a low interest rate environment for the next 50 years.
The Federal Reserve’s currently has in place Quantitative Easing or QE to infinity which is the method of artificially keeping interest rates low to try and stimulate the economy for an indefinite future. The insurance companies have responded by assuming[…]
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