Description: Part one of a two-part article, to be contined in Feb 2014. Provides useful rules of thumb for breaking out investment return into components of periodic arithmetic return, geometric return, the volatility of returns and the correlation of returns by asset class. Develops and relates these axiomatic concepts into rules of thumb for estimating quantiles of a range of stochastic returns.

Description: This paper presents a straightforward method of building a consistent framework for C-1 risk reserve calculation. Sample levels of required surplus are derived for fixed income and equity investments. From Transactions of Society of Actuaries 1986, Vol. 38.

Description: background history of the insurance industry and the role of actuaries within it, followed by the current environment and anticipated future environment.

Description: This is a letter from F.G. Reynolds, University of Waterloo, to Mr. C. Smith, Cologne Life Reinsurance Co. As an assignment the author had the students in his Risk Theory class extend the method of Trobliger to three levels of risk. Both the data of Trobliger and the data of Thyrion, which can be found on pages 27 and 16 of Seal's Stochastic Theory of a Risk Business, were fitted.

Description: From a session at the Spring regional meeting of the Society of Actuaries held in Atlanta, Georgia, May 24-25, 1999 Panelists discussed a comprehensive risk management approach to quantify the risk exposure from various sources.

Description: Panel session on the challenge that many insurers face as they try to grow their long-term-care insurance business, while simultaneously ensuring analysts and shareholders that earnings targets will be met.

Description: This panel discussion is from the 1991 Meeting of the Society of Actuaries, held May 16-17 in New York. The panelists discuss emerging trends in the financial condition of the life insurance industry, how the financial condition of a company is determined by the rating agencies, and the value and reliability of ratings with respect to a company’s current and future financial condition. The potential role of actuaries, the value of the statutory financial statements, the users of the ratings, and how they affect the rated companies are discussed. Discussion from participants is included. From the Record of Society of Actuaries, Volume 17, No. 2.

Description: Investment Fallacies: The Fallacy of Independence

Description: Investment Fallacies: A real-world approach to Value at Risk

Description: This survey of emerging risks attempts to track the risk manager population‘s thoughts about emerging risks across time. The top 4 emerging risks from this third iteration of the survey are: 1. US current account deficit/fall in US dollar. 2. Blow up in asset prices/excessive indebtedness. 3. Oil price shock/energy supply interruptions. 4. Chinese economic hard landing.