Various characteristics and aspects of with-profits / participating business are globally similar, whilst others are diverse. A brief overview of with-profits / participating business and the different methods used internationally to declare bonuses / dividends and value benefits will be presented. The presentation will then compare and contrast various aspects of with-profits / participating business across territories. An international perspective on key aspects such as governance, investment strategy, policyholders’ reasonable expectations, communication with policyholders and special issues relating to closed blocks of business will be provided. The aim of the presentation is to promote cross-border knowledge and to help provide a broader view on some of the key challenges facing actuaries working with with-profits / participating business.