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The Annual Prize

The Annual Prize

By Edward Frees

Each year, the Society of Actuaries presents its aptly-named Annual Prize to the author or authors writing the best paper to appear in the North American Actuarial Journal, the leading scientific publication of the Society. The editorial board of the journal selects the winner(s). Like the 2000 US Presidential elections, the contest was close. Unlike the presidential elections, the editorial board has the ability to recognize both close contestants. The editorial board has selected co-winners for the 2001 Annual Prize. The co–winners are: Mary R. Hardy for A Regime–Switching Model of Long-Term Stock Returns,and Phelim P. Boyle, Adam W. Kolkiewicz and Ken Seng Tan, for Valuation of the Reset Options Embedded in Some Equity–Linked Insurance Products.

This announcement also appeared in the October 2002 issue of the North American Actuarial Journal. Winning teams of authors split the prize of $500 and are each awarded plaques. Prizes are funded in part through memorial gifts donated to the Society of Actuaries. At present, this includes a gift donated in the memory of John P. Tillinghast