Description: This discussion looks at principles which should govern the determination of the respective proportions of earnings to be allocated to policyholders and stockholders, the level of contingency reserves and surplus which should be maintained, and looks at the extent to which the mandatory Security Valuation Reserve should affect the level of unassigned surplus.

Description: From the 1985 Valuation Actuary Symposium Discussion of techniques for determining capital requirements needed to support an insurance business, based on the nature of the assets and liabilities on the books and related investment strategies, using ALM modeling

Description: This teaching session was presented as Session 6B at the 1987 Valuation Actuary Symposium. The subject was modeling techniques for use in testing the scenarios being developed by the Canadian Institute of Actuaries, ‘CIA,’ Solvency Standards Committee. The presenters, members of the Committee, have been working on developing a generic modeling approach. Their presentation is limited to the first of three phases of proposed CIA standards for solvency reporting dealing with scenario testing, namely the projection of surplus under various prescribed and selected scenarios.

Description: The objectives of this paper are to determine the extent to which Makeham's or Gompertz's laws describe recent insurance and population mortality analyze how the constants in the two laws vary with respect to some factors and propose a simple extension to Makeham's law to account for recent departures from the laws, related to difference in sex. Presented at Actuarial Research Conference at Ball State University, September 1, 1978

Description: This paper discusses the binominal financial and insurance models. In addition, the paper expands the discussion to the martingale probabilities measures for insurances, annuities, endowment insurances, and equity-linked products.

Description: Investment Fallacies: The Myth of Time Diversification

Description: Investment Fallacies: Future Equity Returns

Description: This study is intended to educate insurance professionals on historical insurer impairments and insolvencies and possible future prevention indicators.

Description: Applications of Lagrangian distributions to modelling claim frequency data in an insurance portfolio is a relatively new concept. The major difficulty is that the generating functions of these distributions cannot be expressed in terms of elementary functions. Also deriving moments and/or cumulants is somewhat tedious. This article illustrates how to use Maple effectively to overcome these difficulties.

Description: This paper discusses a problem in corporate finance, the problem of selecting from among a group of possible economic projects. This problem most certainly involves future contingent events and is a natural for consideration by actuaries interested in expanding into non-traditional practice areas.