Description: Is Risk/Return a sound tool for decision-making? No. It is not consistent, not objective, distorts decision and degrades governance. Why? What shall we do then?

Description: Readers are given an introduction to a PBA Implementation Guide for Life Products.

Description: Summary of research project designed to document method to credit interest rates to account value based products. The investment year method (IYM) can theoretically align with investment strategy and be fair to policyholders. These products were designed in the 1980s with guaranteed nominal rates above what is currently accessible so most products credit the guaranteed rate. This paper documents how it could be resurrected during the next interest rate cycle.

Description: Presentation at May 1996 Spring Meeting Discusses evaluating yield needs and whether the expected net return will outweigh the RBC/rating agency penalty of added surplus requirement, the effect of factoring in volatility, the utility of using assets with high RBC requirements, and the amount limits on various assets.

Description: Presented at October 1996 Annual Meeting. This session explores both conceptual and practical considerations involved with the formulation and implementation of investment strategy: decision-making framework and processes, measurement of risk and reward, constraints, modeling.

Description: The Investment Symposium is a day-and-a-half long seminar that will focus on the issues and questions faced by investors and risk managers, especially related to insurance companies and retirement plans. Presenters will discuss the big picture issues and explore practical solutions to today’s challenges. Experts will share new approaches to portfolio management and cutting edge research in asset-liability management. Technology, regulation and the economic environment will

Description: 1996 Valuation Actuary Symposium. This session about asset modeling discussed securities with options and derivatives, corporate government debt, mortgage-backed securities, collateralized mortgage obligations, real estate equities, and investment and disinvestment strategies.

Description: The investment risk taken by a pension fund comprises strategic risk and active risk. This paper discusses the relative merits of these two types of risk to the pension fund, possible rationales for the levels of strategic and active risk typically adopted mechanisms for capturing manager skill without taking on equity risk, and issues in setting liability-based benchmarks for investment managers

Description: From the 1960 Transactions Vol. 12 No. 32, this ‘Digest of Informal Discussion’ addresses current developments and proposals with respect to life insurance company investments and inflation. The panelists address questions related to the extent and appropriateness of investment in common stocks, and the impact on actuarial practices and standards.

Description: This panel discussion looked at investment philosophy and strategy for insurance companies. Discussion focused on criteria for choosing investments, the effect of an inflationary environment, and investment needs of various product lines.