Description: European insurance regulation pretends to capture and rely on the 1-year 1-in-200 VaR. But there cannot exist any scientific calibration of such measure. Why?

Description: A New Perspective on Risk Management: Creating Value by Managing Risk by Francis P. Sabatini and Joseph Weiss from The Financial Reporter, December 2001, Issue No. 48.

Description: Description of considerations and perspectives to be taken into account by incentive compensation plans.

Description: Summary of Investment Council sponsored meetings as 2015 annual meeting

Description: The five words for ERM are transparency, discipline, alignment, adaptability and resilience. This article focuses on transparency, discipline and resilience.

Description: The Life Risk Based Capital Working Group of the NAIC asked for a recommended capital standard from the American Academy of Actuaries for variable annuity contracts with guarantees. In response, the Life Capital Adequacy Subcommittee’s C-3 Work Group the Work Group, chaired by Bob Brown, formulated an approach, which has been dubbed RBC C-3 Phase II.

Description: Recent advances in mortality modeling have enabled applicant-specific quantification of mortality risk in life insurance applicants using laboratory and physical measurements. Relative to more conventional underwriting, this approach identifies a small population of significantly under-priced policy and a much larger, cross-subsidizing group whose risk is presently overestimated. Applicants placed in the highest percentile by this scoring methodology are more than 10X as likely to die in a given period as their demographic peers, and represent approximately 5% of short-term claims. Implications for product design are substantial in both the short- and long-term, as the possibilities for adverse selection grow, and the opportunity for fully individualized pricing raises the more distant prospect of products with as many rate classes as applicants.

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: Summary of SOA modeling sessions from 2017, part 2.

Description: In this article the author discusses creating a common language for ORSA, capital and stress.