Description: In this Editor's Note, the outgoing editor recaps the changes to the newsletter and talks about the future issues.

Description: In this article, the author reviews the award winning papers of the 2009 ERM Symposium Scientific Paper Track. Abstracts of the three winning papers are included covering topics such as ALM issues for Long Term Liabilities, Portfolio Risk, and Market participants' personal view of risks.

Description: A discussion of risk-relevant resources available at the Society of Actuaries Risk Management Task Force Web site

Description: We define what we believe a model validation should entail and the value proposition that it offers.

Description: The initial risk reserves in collective risk models vary according to the underlying claim distribution, and a suitable level of ruin probability. A thorough analysis of the needed initial surplus for various ruin probability levels is provided in eight meaningful examples. The claim distributions are drawn from various fields of insurance, including property damage and liability insurance.

Description: Discussion of leading edge companies. Topics included: 1. How they got there 2. Lessons to be learned 3. Financial reporting issues faced by actuaries and others involved with companies that have failed or are close to statutory insolvency 4. Turning it around- strategies for future success.

Description: This article highlights some of OSFI’s expectations regarding the ORSA process, and provides general feedback and observations from OSFI’s reading of 2014 ORSA reports (including KMR) and discussions with insurers.

Description: Read the French language version of the December 2017 issue of Risk Management published by the Joint Risk Management Section. Newsletters provide practical information for the working actuary, articles on trends that impact sections and news about section activities.

Description: Highlight of the ERM Symposium

Description: Institutional investors seeking to hedge have no shortage of choices, and need the right framework to manage the different risks in portfolios as they arise. This article analyzes performance of different equity hedging strategies over the last 15 years, and lays out a potential hedging framework that takes into account types of risks being hedged, fundamental views, and current market pricing of protection.