Description: Panelists discuss the process and challenges presented by mergers or acquisitions. From the Record of the Society of Actuaries, Vol. 24, No. 2.

Description: In Volume LXXV of the Proceedings there appeared a paper entitled Risk Loads for Insurers by Feldblum. Confidence intervals for the betas in TABLE 4 [Profit Margins and Their Standard Deviations by Line of Business] of this paper can be generated using the assumption of underlying normal distributions. However, bootstrapping operational or not for interval estimates does not require the normality assumption. The method of operational bootstrapping does not use random numbers. The method for the 4-dimensional case, used to generate the interval estimates in the current paper, is a natural generalization of the bivariate case. I use operational bootstrapping to generate interval estimates for Betas shown in the TABLE 5.

Description: All claim reserve systems endeavor to derive estimates of the unpaid portion of claims which have been incurred over a given period of time, making use of information on numbers of claims and amounts paid on claims as of the valuation date. In this paper, a claim reserve system is described. While the system does produce the traditional type of single-point estimates of claim reserves, it also provides the user with frequency distributions of claim reserves

Description: An excerpt from a presentation at the 2014 Living to 100 Symposium, this article describes an open-source model for use by actuaries attempting to estimate future health benefit costs, discusses its strengths and limitations, and projects that spending for those age over 65 will take more than $13 trillion by 2055, about 50 percent of total medical expenditures.

Description: There are three commonly used methods for compiling exposure and death data for use in obtaining crude mortality rates. They are lives, policies and amounts of insurance. This paper investigates the properties of estimators based on lives, amounts and robust alternatives. It is concluded that lives provide the best estimator, even when there is a moderate dependence of mortality rates on amounts of insurance. Presented at the Fourteenth Actuarial Research Conference, lowa City, lowa, September 6, 1979.

Description: This paper presents a random selection method with the Monte Carlo simulation technique in the estimation of loss reserves. The future loss development factors are randomly selected from a weighted empirical distribution of observed loss development factors. This nonparametric approach provides an estimate of the distribution of total loss reserve.

Description: This paper develops an option pricing model that takes cost of capital concepts as its foundation rather than dynamic replication. The resulting model, called the 'C' measure in this paper, is related to the family of Affine Jump Diffusion models that are well known in the finance literature, so it is fairly easy to understand and implement. We argue that this is a reasonable model to use for estimating equity implied volatilities that are beyond the five- to 10-year horizon that can typically be observed in today‘s capital markets. The paper concludes with a short discussion of how to grade from observable market data to the 'C' measure.

Description: Discussion of the separate and joint effects of obesity and diabetes on disability and mortality, and ways these effects can be used to improved insurance pricing and reserving, reverse the increasing rates of obesity and diabetes, and improve current projections of disability and mortality risks.

Description: This paper suggests a possible flexible solution to the time and resource problems of running a large number of stochastic interest rate scenarios, by selecting a representative subset. Each interest rate scenario consists of 30 future spot yield curves, where a reasonable number of points are specified on each curve such as 12. The distribution of the scenarios is approximated by the subset and each scenario in the subset has equal weight. The method is independent of the interest rate generator used.

Description: Article 1979 Research Conference by Klugman in The Actuary, December 1979, Volume 13, Number 10