Description: This research report explores investment year methodology to set renewal credited rates. There is an accompanying Excel workbook created as a teaching aide.

Description: Read the May 2019 edition of NewsDirect published by the Marketing and Distribution Section of the Society of Actuaries.

Description: This paper provides a novel approach to the valuation of the market value of economic surplus that is stable and immune from “market noise”.

Description: In this session, senior pension and insurance investment professionals will share their thoughts on current investment topics. Attendees will hear about leading edge investment ideas and practices from industry leaders.

Description: Feature article discussing the possibility of the LIBOR rate ceasing to exist in 2021 at what that would mean for insurance companies.

Description: Tidbits of Section relevant information.

Description: New web page that describes the new e-learning FSA module Scenario Modeling. It replaces Financial Reporting Module in the QFI track.

Description: This paper defines Distributable Earnings as the generalized pricing and valuation framework for financial contracts containing the requirement to hold capital or reserves in support of the obligations. It examines the Market Value paradigm and its foundation arising from the pricing of fixed income securities. It reconciles these two methods, showing that market value methods ignore mandatory capital and reserve requirements, which carry both risk and cost. The paper makes the case for the Distributable Earnings framework, not Market Value, as the true basis for economic value for these financial contracts. Finally, it concludes that this framework must be employed in risk-management processes, else fail to recognize a significant source of risk.