Description: Irish actuary and professor explains his hypothesis that actuaries, as practitioners, are reluctant to adopt the theories of financial economists unless the models on which the theories are based fit the actual data the actuaries have.

Description: This paper describes reverse mortgages, a form of home equity conversion specifically suited to older homeowners who need cash from their homes but who still want to live in them. This paper describes the basic characteristics of a reverse mortgage as well as the types of guarantees generally thought necessary for a tenure reverse mortgage to be marketable. These guarantees create five types of risk susceptible to actuarial evaluation. Each risk is identified, and methods of charging for and minimizing these risks are discussed. Special underwriting hazards and the need for asset reserving are reviewed. Examples of pricing and reserving for a reverse mortgage are provided. Careful supervision of reverse mortgage lending by use of actuarial methods is recommended. From Transactions of Society of Actuaries 1992, Vol. 44.

Description: Table from an article in The Actuary Magazine entitled Outsourcing of General Account Investments.

Description: This presentation at the 1989 Valuation Actuary Symposium discusses the differences in viewpoint and mind-set between the valuation actuary and the chief investment officer. How these differences played out in an exercise to determine asset strategies is reviewed.

Description: Feature article discussing key accounting concepts in finance.

Description: This report identifies the risks that can affect insurance company solvency, provides information and opinions on techniques currently available, and comments on what additional research may be necessary.

Description: While a rising sea helps all ships, the insurance industry is a ship that hasn't seen much water in the past decade. Examine valuation and product management considerations in a high interest rate environment

Description: S&P Global released its initial version of proposed changes regarding its Insurer Risk-Based Capital Adequacy methodology and assumptions on Dec. 6th, 2021. Unlike prior guidance notes or criteria releases, the proposed changes comprehensively updated the current S&P rating criteria released in 2010. These updates would directly impact many insurers. S&P Global anticipates that 10 percent of existing ratings in the insurance sector would be impacted and the change would lead to more positive rating implications than negative impact. This article focuses on the proposed changes on the S&P risk-based capital (RBC) vs. the current model, then simulate impacts to a representative U.S. life insurer through an illustrative case study.

Description: The session at the 2004 Valuation Actuary Symposium describes current risk mitigation techniques and their impact upon valuation systems including hedging mechanisms, regulatory relief, GAAP measurement, product 'quarantine', realistic assumption changes, maximizing returns and minimizing litigation.

Description: This article discusses that over the past five years, an increasing number of actuaries have become concerned with the asset side of the balance sheet.