Description: This Open Forum was Session 7A at the 1987 Valuation Actuary Symposium. In discussing taxes, it was noted that given that the valuation actuary concept has not been finalized, and that current tax reserves are formula driven, the ultimate tax implications are not known. The reinsurance discussion notes that “the most important reinsurance issue for the Valuation Actuary is the future collectability of reinsurance cash flows.” Discussion of asset/liability matching techniques from other industries included continuing care retirement facilities and the banking industry.

Description: 1998 Valuation Actuary Symposium. The panelists discussed the keys to an effective Asset Liability Management process and the conceptual tools that they're using, including value-at-risk, optimization techniques, and holistic ALM.

Description: From a session at the 2001 Valuation Actuary Symposium, held in Lake Buena Vista, Florida, November 29-30, 2001 Teaching session covering the development of realistic liability models for use in asset adequacy analysis, asset/liability management, pricing/repricing, financial reporting or other corporate purposes. The primary focus is modeling issues for variable product features, such as minimum living or death benefit guarantees on both variable life and annuities, annuity death benefit enhancements, and variable immediate annuities. Topics include: • Analysis of the special risks posed by these products • Selecting realistic dynamic assumptions • Techniques used in modeling these products • Scenario testing and result presentation to best communicate risks

Description: The Society's Task Force to Study Risk of Loss from Changes in the Interest Rate Environment C-3 Risk Task Force was formed in March 1981 with the charge to quantify C-3 risk. The Task Force made a preliminary report as part of a panel discussion on C-3 risk at the Society's October 1981 meeting in Atlanta. This presentation provides an update on the progress to date and its future plans.

Description: How to set asset assumption, at the cycle or through the cycle and other considerations

Description: Generally, the assets acquired by financial institutions have their values determined by established capital markets. However, the firm's liabilities become customer's' private placement assets and their value must be calculated by the firm. This monograph discusses the theoretical bases for modeling the liabilities consistently with the assets. From Asset-Liability Integration, M-FI02-1.

Description: This presentation is a concurrent session from the 1991 Meeting of the Society of Actuaries, held April 18-19 in New Orleans. The panelists discuss the financial management of insurance company liabilities, including the criteria for identifying significant product portfolios, lessons learned from historical results, and the challenges facing the financial managers in the future. They discuss the state of management information for appropriate product or market segments and how to improve it, and action plans for financial managers to improve financial results. Discussion from participants is included. From the Record of Society of Actuaries, Volume 17, No. 1.

Description: 1994 SOA Meeting, San Antonio. This session provided an overview of the state-of-the-art asset-liability matching techniques for pension plans. It also discussed application of the techniques to stabilize FAS 87 expense, protect pension plan surplus against economic fluctuations, and manage the nonparallel yield-curve shift.

Description: The article explores the use of economic capital modeling to deliver value to clients by improving the financial security of many individual lives around the world in a cost-effective way.

Description: This article discusses asset-liability management from two different paradigms, one a simulation of the firm as an external observer e.g. shareholder would view it, and the other a “still life” at a given moment from an internal viewpoint.