Description: This article contains material excerpted from a speech given on June 17, 1997 by Tom Kelly, Senior Vice President and Managing Director of LIMRA International, at a LOMA/LIMRA Strategic Issues Conference in Singapore. The article includes demographic and economic data for various countries to illustrate the potential for growth in various Asian markets.

Description: The selection of the economic capital calculation approach becomes more of a modeling decision. Now let us pause here and think about the arbitrage-free assumption at the beginning. At any time, there can be only one price on any asset. If the company considers the price calculated above as the fair price for its products, then it must hold true that the same price has to be arrived at if the company uses a real-world pricing approach instead of a risk-neutral approach. This gives us a very good basis to calibrate the appro- priate economic capital.

Description: Describes how the mantra of 'tax cuts will pay for themselves" along with the political unwillingness to cut spending (extant since the 1980s), has led to this increasing debt problem in the U.S., reaching $17 trillion at time of writing. Other countries are behaving in a similar fashion, and it can be only a matter of time before the globe may reach another crisis, this time based on excessive government debt coupled with fewer interested investors.

Description: This document contains material excerpted from a speech given on June 17, 1997 by Tom Kelly, Senior Vice President and Managing Director of LIMRA International, at a LOMA/LIMRA Strategic Issues Conference in Singapore. It focuses on the life insurance industry around the world and some of the forces driving change and their implications.

Description: An update on the principle-based reserves (PBR) process and possible valuation manual adoption, with recommendations to actuaries on how to prepare.

Description: This article on insurance regulation discusses the highlights of the Optional Federal Charter OFC – current developments, its opponents and proponents, accounting implications, and implications for small insurers.

Description: Second article in a series on pension accounting changes. This article will concentrate on updating the status of global convergence in Canada and also look at changes proposed in the International Accounting Standard, IAS 19.

Description: The current life insurance development with a focus on the latest regulation change from actuarial perspective and its possible impact to the Vietnam industry.

Description: Discussion of the implications for US Insurers of the vote for Britain to exit the European Union (Brexit).

Description: Article discussing financial reporting topics discussed at the International Actuarial Association meeting in Washington D.C. in April.