Description: In this paper the author develops techniques for measuring GAAP return on total capital by line of business, where total capital includes “benchmark surplus,” the amount of statutory surplus set aside, in addition to reserves, to support in-force business. The author also shows how GAAP returns relate to the internal rate of return the actuary may have calculated to describe expected profitability on a statutory basis. Includes discussion and author’s review of discussion. From Transactions of Society of Actuaries 1982 Volume 34.

Description: In light of recent life insurance company insolvencies, this session at the SOA 1990 San Francisco Spring Meeting looks at industry solvency issues. The question of whether or not there is a surplus crisis is debated.

Description: Presented at September 1995 Valuation Actuary Symposium. Discusses capital measurement and management, target return on capital, and economic value added as a tool for capital management and performance measurement.

Description: Article AERF in The Actuary, May 1979, Volume 13, Number 5

Description: The article focuses on the need to develop a strategy for investing surplus resulting from the buildup of significant excess capital. The author discusses three principles on which a company can base its surplus investment strategy, including the risk/return preference of the client, attribution of surplus to the products and an investment strategy based on all company risks.

Description: Quarterly update on regulatory trends of interest to financial reporting actuaries.

Description: Investment Fallacies: Bitcoin Fallacies

Description: The September 2014 Issue of the Financial Reporting Section's newsletter, The Financial Reporter

Description: Discussion of how meaningful GAAP ROE is as a measurement of management performance or how well management has deployed capital over a reporting period.

Description: Feature article discussing the insurance industry in Australia.