Description: This paper addresses a study of surplus with the following goals in mind: 1. Determine surplus available for financing additional business, including new ventures. 2. Facilitate measurement of financial performance by line of business consistent with reasonable corporate goals. 3. Provide a mechanism for evaluating alternative strategies based on their estimated marginal effect on the company's ability to meet the above corporate goal. From Actuarial Research Clearing House ARCH 1988, Vol. 3

Description: This paper presents a proof on the subject of uniqueness of interest rates in a borrowing/lending model for possible student use in undergraduate classes in the theory of interest. From Actuarial Research Clearing House 1993, VOL. 3.

Description: This paper describes a new approach of calculating duration by taking a portfolio perspective utilizing the idea of internal rate of return. It is presumed the user has a model for projecting cash flows under different interest rate scenarios and knows the current market value of the portfolio. From Actuarial Research Clearing House 1993, VOL. 3.

Description: This paper discusses simple interest, amortization and simplicity. The author asserts that compound interest is an improvement upon simple interest that makes the calculation of interest simpler. Likewise, exponential amortization is an improvement upon linear amortization that makes the calculation of amortization simpler. From Actuarial Research Clearing House 1990, VOL. 2.

Description: This paper presents a formula for calculating the expected rate of return on shareholders' equity when an insurance company raises capital by issuing subordinated indebtedness. The ROE formula is also applicable to the case of raising capital by issuing nonconvertible preferred shares. From Actuarial Research Clearing House 1991, VOL. 2 .