Description: Features Editor Deborah Poppel met with CFOs Bertram Pike, of John Hancock, and Ralph Verni, of The New England. They talked about the role of the CFO and the environment in which they operate.

Description: This session from the 1995 SOA Boston Meeting discusses the asset/liability implications of synthetic GICs, book value wrappers, the investment risks, and how companies are handling these risks. From the Record of the Society of Actuaries, Vol. 21, No. 4a.

Description: We derive formulas for calculating the premiums that should be charged on policies in a discounted cash flow model with tax reserves and required assets that are determined by regulation. We also determine the unique division of required assets into “reserves” and “capital” that allows the product profitability to be correctly evaluated. That is, the profit after capital charges is zero if the product achieves the return assumed in pricing. We illustrate the concepts using whole life insurance and guaranteed minimum death benefit examples.

Description: This article contains the statistics of the equity premium or market risk premium [MRP] uses in 2011 for 56 countries. The paper also contains the references used to justify the MRP and comments from persons that both use and do not use MRP.

Description: This report looks at closed form models or 'exact solutions' in which calculus produces 'simple' formulae. The conclusion is that for Gaussian interest rate models we can solve the problem of an American option provided the option holder behaviour can be described by a force of option exercise which is linear or quadratic in the state variables.

Description: Data call soliciting information on Credit Risk Study Loss Experience Study: Private Placement bonds and credit risk events for 2003-2010.