Description: French language version of Risk Management, August 2014 newsletter.

Description: “Global tactical asset allocation GTAA is an invest¬ment approach that seeks to exploit short-term mar¬ket inefficiencies to generate uncorrelated absolute returns by taking positions in various asset classes, regions, styles and currencies. Due to its low correlation with tradi¬tional asset classes, GTAA can diversify an existing portfolio without making material changes to the portfolio’s overall risk characteristics.”

Description: Explains the more granular breakout of bond RBC factors proposed to the NAIC. Evaluates alternative asset allocation choices for insurers under the new rules.

Description: The purpose of the article is to summarize the results and conclusions of the C-1 Risk Task Force Report prepared for the Committee on Valuation and Related Areas. A key question: Is the risk to insurance companies of defaults on junk bonds sufficient to justify increasing required surplus levels?

Description: Complete issue of the August 2014 Risk Management newsletter.

Description: New Zealand is about to launch its first variable annuity with guaranteed lifetime withdrawal benefits. The product design is mindful of the lessons from the financial crisis in the United States, Europe and Japan.

Description: Proposes a benchmark consisting of TIPs and deferred income annuities for retirement asset allocation decisions.

Description: Editors discuss the articles in this issue.

Description: ERM and Investment strategies for healthcare companies

Description: This paper develops a detailed mathematical basis for the investment generation technique for allocating assets and investment income across lines of business in an insuance company.