Description: In this paper we investigate three investment-consumption problems for a risk averse investor: i an investment only problem that involves utility from only terminal wealth, ii an investment-consumption problem that involves utility from only consumption, and iii an extended investment-consumption problem that involves utility from both consumption and terminal wealth. We model these problems under a multiperiod setup that incorporates three types of uncertainties: the economic environment uncertainty, the asset return uncertainty, and the mortality uncertainty. By using dynamic programming, analytical expressions of the optimal investment consumption strategies to these problems are derived. Some economic implications on these results are also discussed.

Description: Accurate determination of the appropriate time to retire and replace a physical asset is important for large ensembles of such assets when taken as a whole, and concerns the fate of tens of trillions of dollars in assets, such as airplane engines, vehicles, or any other kind of physical asset susceptible to obsolescence. A decision model to accomplish this is derived using the concept of actuarial present value applied to an economic theory of cost minimization. Since this is a theory coupling investor wealth creation with the long-term optimization of the use of scarce resources, it can also be offered as an economic model relevant to sustainability.

Description: The Society of Actuaries (SOA) published its first COVID-19 research brief on March 10, 2020, followed by regular updates and expansions through June 12, 2020. The comprehensive report includes a section of Key Statistics. On July 24, 2020, the SOA released a report showing updates through July 22 to selected graphs from or related to the Key Statistics section of the comprehensive report. This report provides similar updates through August 9, 2020.

Description: Appendix G is the listing of participants from the Delphi Report. Please see the SOA website Research section for the full Delphi Study of Economic Variables Report and all of the appendices.

Description: The SOA Research Institute along with the Corporate Finance & Enterprise Risk Management Curriculum Committee, Financial Reporting Section, and Individual Life & Annuity Curriculum Committee are pleased to make available a research report that aids students and practitioners with their understanding of the rating agencies as they affect the insurance industry.

Description: The Society of Actuaries’ Committee on Finance Research and Investment Section are pleased to make available a research report explores gross domestic product (GDP) as a metric of economic growth.

Description: Explore cutting-edge advancements in virtual care, including remote patient monitoring and care delivery in the metaverse, which build on the foundation that pandemic-era telehealth built. Gain a deep understanding of how these innovations are set to shape the future of telehealth and healthcare more broadly. By attending the session, you will be equipped with a roadmap of the key trends and opportunities in virtual care, and be able to identify potential challenges and solutions for their own organizations in leveraging these new tools.

Description: "Examine the impact of traditional deductibles on health care equity and the need for innovative plan designs. You will learn about the limitations of consumer-driven health care costs broadly today, as well as alternative cost-sharing approaches that have been successful in driving consumerism without exposing members to high costs. By attending the session, you will be able to: Have a clearer understanding of the issues surrounding deductibles Be equipped with practical ideas for creating more equitable and effective cost-sharing solutions Assess the feasibility and potential impact of implementing these solutions for your own organization"

Description: This paper defines a concept of equivalence for profit standards. The central principle advanced is that the company should set prices on all its products to produce marginal profits that are equal in proportion to the products' marginal use of surplus. From Transactions of Society of Actuaries 1981, Vol. 33.

Description: The CAS is pleased to present its Research Paper, “Users’ Guide to Economic Scenario Generation in Property-Casualty Insurance”. Although there are cases in the literature about the use of economic scenario generators (ESGs) in the property casualty industry, they are far more commonly used for life insurance companies. Our hope is that this paper will serve as a comprehensive guide to the implementation of ESGs in the non-life space and spark interest in research into new applications of ESGs.