Jeremy Gold will present his Redington Prize winning paper "The Intersection of Pensions and Enterprise Risk Management," which focuses on how risks from pension financing and investing can be managed in the context of corporate finance. The session will discuss how pension financing can be analyzed in an economic value added context as an activity that interacts and competes with other corporate objectives; leading to a rational way to value risk reduction. At the conclusion of the session, you’ll be able to understand the interaction between pension investing and corporate finance; define risk reduction in the context of economic value added, apply corporate finance concepts to pension funding decisions.

Slides from a presentation at the Society of Actuaries 2007 Annual Meeting, held in October, 2007 in Washington, D.C. Background information on Indexed Universal life products: sales levels, illustration issues, administration issues, and the variety of indexing approaches on these products, along with recent innovations in product design. Also a discussion on the hedging strategies and hedge administration approaches to support these products

This paper examines a portfolio of equity-linked life insurance contracts and determines risk-minimizing hedging strategies within a discrete-time setup. The paper includes numerical results that can be used to quantify the effect of hedging and describe how this effect varies with the size of the insurance portfolio and assumptions concerning the mortality. From NAAJ, April 2001, Volume 5, Number 2.

This session discusses market volatility, financial business lines & investment strategies, asset liability management while utilizing case studies and analytical tools.

The SOA is seeking researchers to use existing data and/or survey techniques to measure the potential deviations from historical equity supply/demand patterns as a result of the baby boom retirements and the move to LDI investing, assess the materiality of any such deviations should it be determined that they exist, and to estimate the impact, if any, on otherwise anticipated equity investment returns.

The European debt crisis has had a significant impact on European economies and their financial sectors. The crisis has necessitated large shifts in government financial policy, including the largest sovereign debt transformation in world history. Insurers are faced with challenges on multiple fronts, from declining capital positions to changes in consumer demographics. Adding to the complexity, Solvency II requirements are still expected to be met on time. This presentation will discuss not only the rapid evolution of recent events, but also the impact on insurers and how they are reacting to the new economic environment. From the 2012 SOA Annual Meeting.

After the Eurozone turmoil of the past few years, can we look ahead to a more stable 2013? This session will address the economic outlook for the Eurozone, including the expected short term and long term effects of recent policy interventions, expected 2013 policy, and the outlook for economic fundamentals and their impact on financial markets including sovereign debt and credit markets.

Jeremy Gold will present his Redington Prize winning paper "The Intersection of Pensions and Enterprise Risk Management," which focuses on how risks from pension financing and investing can be managed in the context of corporate finance. The session will discuss how pension financing can be analyzed in an economic value added context as an activity that interacts and competes with other corporate objectives; leading to a rational way to value risk reduction. At the conclusion of the session, you’ll be able to understand the interaction between pension investing and corporate finance; define risk reduction in the context of economic value added, apply corporate finance concepts to pension funding decisions.

Noted Wall Street economist and strategist Jack Malvey will discuss our current macroeconomic environment and the future opportunities for major asset classes. At the conclusion of the session, you’ll be able to describe the macroeconomic challenges we face, evaluate investment opportunities and apply new information to investment strategy.

Session 1: Practical Issues in Equity Modeling