Description: The article warns against treating the results of a stochastic model with more deference than other actuarial analysis, and describes some hidden risks involved with choice of model and calibration.

Description: A look at the COVID-19 crisis in 2020, and how it differs from both prior financial crises and pandemics. The COVID-19 pandemic gives actuaries an opportunity to assess different ways risk may interact, and thereby adjust the profession’s work for the future.

Description: Pension Forecasts, Part One: Some Questions by Lawrence N. Bader from Risks and Rewards Newsletter, February 2001, Issue No. 36.

Description: This article discusses the pricing of life insurance contracts in the risk-neutral world. Specifically it deals with three aspects: 1 the motivation for pricing contracts using a risk-neutral methodology in valuing life insurance contracts 2 development of some ‘intuition’ behind the risk-neutral valuation techniques and 3 some caveats which need to be recognized.

Description: This article discusses actuarial appraisal value and explores the relationship between cost of capital, market fair value of assets and liabilities, and the option pricing method.

Description: Editor’s Column... Taking Stock by Dick Wendt from Risks and Rewards Newsletter, July 2001, Issue No. 37.

Description: This paper concludes that there are two index rates that could best replace the 30-year Treasury in the calculation of the Current Liability of a pension plan - either the 30 year swap rate or the benchmark 30-year FNMA bond.

Description: This article discusses equity risk premium, what it is, how it should be measured, if a constant risk premium provides the best model and what are reasonable expectations for the future.

Description: The author describes two papers that find that stock returns in the 15 days around the new moon are double the stock returns in the 15 days around the full moon. Is this true, even though psychological studies have established no causal link?

Description: A review of changes in the last two years with respect to investing, geopolitical risks and the markets.