Description: Discusses the evolution of the Valuation Actuaries Symposium since the 1980s.

Description: it discusses the framework and modeling of the market consistent valuation of fixed indexed annuity, against the backdrop of the convergence of accounting standards and internal risk management.

Description: There will be inflection points in the value of an instrument when interest rates change. These inflection points could materially impact the approximation of value change using ALM metrics. In this part of the seven-part series, I will highlight: • How to identify the inflection points; • the range of rate changes where ALM metrics may be relied upon i.e., the “validity” range, outside of which recalculation of the ALM metrics is required and the potential that one needs to rebalance the portfolio; • a technique to improve on the approximation of value change beyond the validity range; and • a technique to convert non-linear change on the yield curve to be used with duration and convexity.

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

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

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: Feature article discussing key accounting concepts in finance.

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.

Description: When formulating a personal investment strategy, the application of a disciplined methodology can lead to more rational decision making by the investor. From The Actuary Magazine, April/May 2005