Description: Finding appealing return on equity for low margin or high risk weighted asset business by dealers has been challenging. Because of this, trading assets have fallen substantially especially in rates and corporate trading books. Smaller books suggest challenged liquidity as balance sheets become less elastic.

Description: This is the strong message to encourage all actuaries in the world, who are struggling against low/zero/negative interest rate. Japanese actuaries have been struggling with low/zero/negative interest rate since 1995. There are experiences in asset management, product revision, pricing strategy, and capital management that can be applicable to other countries.

Description: Performance measurement is not the primary purpose of either GAAP or statutory accounting. This article discusses alternative methods of reporting used by life insurance companies to better measure financial performance.

Description: In this article, the author examines how a seemingly impossible event becomes a harsh or startling reality.

Description: Strategic Risk Management was given lower priority in a recent survey of ERM Objectives. This article tells how the author believes that recent events have caused many to shift to a more short term focus and in the future there will be a shift back to a priority for the longer term view that stands behind Strategic Risk Management when the environment settles down and things again seem to be more predictable.

Description: Since insurance contract liabilities are uncertain in amount, an estimate is required. And under most accounting frameworks, the estimate of an uncertain amount should contain some sort of margin for uncertainty. This paper provides a mathematical connection between that margin and the market price of risk as measured by the cost of capital. The connection makes use of the theory of utility and an exponential utility curve.

Description: Feature article discussing the IASB’s and FASB’s introduction of the use of other comprehensive income (OCI) to report certain changes in the value of insurance contracts.

Description: In this article the author discusses pegging, the history and Impact on insurance industry from risk perspective

Description: The article focuses on findings from EY's survey in 2017 of CROs at 40 insurers in North America. Changing roles in the age of disruption are investigated.

Description: Discusses the controversy regarding how the RBC measurements should be used, which impacts another controversy regarding whether or not the formula should be more detailed.