Description: This paper summarizes default experience on bonds from 1900 through 1987. Although the information is more extensive for publicly traded bonds, the paper includes some information on private placements, some of which is not otherwise available.

Description: The paper discussed the reasons for a stock company's mutualization detail the mutualization process itself consider actuarial, legal, and other problems that arise and review a recent case history.

Description: This report discusses the use of a basic table of net annual claim costs for hospital and surgical expense insurance as adopted by the NAIC in 1956 to be used as a minimum reserve standard for loss-of-time benefits. It is the intention of this paper to outline the characteristics of the table, to discuss the factors which influence reserve considerations, and to describe suitable methods of determining active and disabled life reserves for the types of benefit provisions now most generally offered. From Transactions of Society of Actuaries 1965, Vol. 17, Pt. 1, No. 49.

Description: Discussion of the 1958 CSO Mortality Table: 1. Considerations regarding continuous functions, age last birthday and changing reserve methods 2. Likelihood of Canadian adoption 3. Impact on extended insurance and automatic premium loan provisions.

Description: Presentation of proposals that are designed to further improve actuarial education by anticipating educational needs based on future change in the nature of actuarial work. The paper is divided into three sections: I. Current and Past Education of Actuaries II. Actuaries as Customers for Education and III. The Future Educational Needs of Actuaries and How These Needs Might Be Implemented. Followed by several submitted discussion papers.

Description: The purpose of this paper is to set forth a mathematical technique which in the author's experience has proved useful in testing the tax implications of various management actions.

Description: Examination of how mean reserve factors can best be calculated in light of the new accounting reporting requirements for the earnings of stock life insurance companies. Also examines some methods of expense amortization, including the reserve factor method, and also attempt to show an informative comparison of how reported calendar-year earnings can be expected to emerge with statutory mean reserve factors, natural mean reserve factors, and assorted expense amortization methods. Followed by several submitted discussion papers

Description: Discussion papers on a paper dealing with minimum statutory nonforfeiture values for retirement annuity contracts.

Description: This paper explores a reserving technique in which profits are recognized as a percentage of assets. Followed by a discussion of the paper.

Description: When an insurer classifies risks for the purpose of setting rates, one of the goals is to achieve equity. In general, however, inequities can be introduced when only certain factors are considered and others ignored. This paper, guided by ideas used by economists to measure income inequality, proposes a method of measuring this inequity. From Transactions of Society of Actuaries 1987, Vol. 39.