Description: This article discusses value at risk, VaR, and VaR modeling of the bank's portfolios that would recognize diversity and hedging. This article also covers the differences between classical VaR and the longer horizons required by the insurance industry and the feasibility of extending VaR to the insurance industry.

Description: This article gives details of the demutualization process of The Equitable Life Assurance Society, highlighting the decision process, actuarial issues and regulatory challenges.

Description: Discussion of the Buol Report, dealing with international solvency standards for life insurance companies

Description: Insurance accounting is in the midst of significant changes, many of which were proposed during a time of severe economic uncertainty. Given the concern about these regulations by many insurance finance executives, it is time for a re-examination of the capabilities of the financial reporting function. For insurers, actuarial components are a critical part of the financial reports, and so actuaries can be expected to play a critical role in moving the overall financial and regulatory reporting function forward. In fact, the financial and regulatory reporting function in an insurance company cannot advance significantly without actuarial expertise. This article explains how actuaries are therefore in the position of being able to help drive the evolution of a company’s finance function.

Description: Article from The Actuary, November 1985 – Volume No. 19, Issue No. 9 that discusses the changing role of the valuation actuary.

Description: A British actuaries perspective on what could happen should two reserve/accounting basis exist that could lead to reducing the strength of statutory accounting and perhaps the financial strength of North American insurance companies. Some might find similarities to what might happen during the transition to principles based statutory accounting.

Description: Highlights parts of the exposure draft and concludes that it contains suggestions that actuaries may find useful in internal control design and in documentation for themselves, other management, and auditors.

Description: In Canada, the actuarial considerations involved in developing financial reporting and disclosure principles have for some years been under active study by the Canadian Institute of Actuaries CIA and others, with a goal of moving toward one system of financial reporting for all users. The author discusses current proposals starting with a 1974 report released by the CIA, and the work of an Advisory Committee with members from the actuarial and accounting professions, industry, and Provincial Insurance Departments, appointed by the Federal Superintendent of Insurance, which completed its work in the form of a written report.

Description: This article describes the Investment Year Method for allocation of general portfolio investment income and demonstrates the equivalence of a fixed index or declining index system.

Description: Article from The Actuary,December 1986 – Volume No. 20, Issue No. 10 that discusses statutory accounting for computer software.