Description: There will be inflection points in the value of an instrument when interest rates change. These inflection points could materially impact the approximation of value change using ALM metrics. In this part of the seven-part series, I will highlight: • How to identify the inflection points; • the range of rate changes where ALM metrics may be relied upon i.e., the “validity” range, outside of which recalculation of the ALM metrics is required and the potential that one needs to rebalance the portfolio; • a technique to improve on the approximation of value change beyond the validity range; and • a technique to convert non-linear change on the yield curve to be used with duration and convexity.

Description: Article Book Review The Future Of Risk by Calvert in The Actuary, December 1979, Volume 13, Number 10

Description: Update of the activities being carried out by the Joint Risk Management Section

Description: Discussion of how non actuaries are taking on many of the enterprise risk management roles of insurance companies. Discusses changes actuaries need to make to re-assert their roles. Also discusses roles actuaries can play in enterprise risk management outside of the insurance and pension industries

Description: This article summarizes an emerging risk research project completed by the Joint Risk Management Section. The major categories of risks in the survey were 1. Economic, 2. Environmental, 3. Geopolitical, 4. societal and 5. Technological.

Description: The article explores the possibility of using the emerging technology for life insurers to build a monitor system for better risk and profitability management.

Description: This article discusses the impact of ERM on smaller insurance companies.

Description: This article talks about replicating portfolios, a basket of financial instruments designed to replicate, as closely as possible, the value and market sensitivity of a target portfolio of liabilities in different economic scenarios.

Description: The article discusses how strategic planning and strategic risk management are intertwined.

Description: In this article, the authors discuss measuring and understanding the more holistic value of risk management. In particular, organizations are struggling with how to best determine the market value of risk management strategies.