Description: Article from The Actuary, November 1985 – Volume No. 19, Issue No. 9 that discusses the changing role of the valuation actuary.

Description: From the 1985 Valuation Actuary Symposium. Discussion on the role of valuation actuary.

Description: This session from the 1983 SOA Hollywood, Florida Meeting discusses investment strategy, new investment instruments, investment strategy for flexible cash value policies, investment strategy for traditional policies and an example of investment strategy for a SPDA. Record of Society of Actuaries Vol. 9, No. 4

Description: This paper develops pricing theory for single premium immediate annuities using Anderson's present value of book profits method. A discussion of the paper follows regarding particpating single premium immediate annuities. From Transactions of Society of Actuaries 1979, Vol. 31.

Description: The goal of this paper is to dispel the prevailing belief that American-style options cannot be valued efficiently in a simulation model by presenting a general algorithm for such valuation, and thus remove what has been considered a major impediment to the use of simulation models for valuing financial instruments. Discussions of this paper are included.

Description: This panel discussion is about the viability of single premium annuities and single premium life insurance. Items discusses include product design, pricing and regulatory issues with the back drop of high inflation of the times.

Description: Without relying on formulas, this paper presents the important concepts underlying the theory of arbitrage-free pricing of interest-rate-contingent cash flows: absence of opportunities for riskless arbitrage, completeness of markets, relative prices that do not depend on individual investors' subjective views or risk preferences, and expected-value pricing in the risk-neutral world. Using these concepts, the paper then describes the steps required to build continuous stochastic models of interest rates, including models that are either partially or fully arbitrage free.

Description: From the 1985 Valuation Actuary Symposium Demonstration of the usefulness of the concepts of duration, interest rate sensitivity and, in particular, market values in analyzing the ability of assets to meet future liability demands.

Description: This Report presents the results of a three-year study on Demutualization by a Task Force of the Society of Actuaries. From Transactions of Society of Actuaries 1987, Vol. 39.

Description: This panel discussion looked at investment philosophy and strategy for insurance companies. Discussion focused on the matching of assets and liabilities, the effect of an inflationary environment, and performance measurement for investment results.