Description: This abstract describes a paper that examines the relationship between executives’ stock-based compensation and managerial risk-taking behavior in the property liability insurance industry.

Description: The abstract for the paper Some Background from Census 2000.

Description: This abstract describes a paper that proposes a stochastic population structure model based on the Leslie matrix, in which a Lee-Carter model framework is used to describe the future mortality and fertility changes.

Description: This abstract describes a paper that provides a framework for the development of livestock insurance and examines how livestock insurance may be developed, using Canada as an example.

Description: This is the abstract for the paper on static hedging strategies for guarnateen minimum income benefits.

Description: This abstract describes a presentation that relates to determining the next standards applicable for pension plan valuation in Canada, depending upon further decisions to be made by the Actuarial Standard Board-Conseil des norms actuarielles.

Description: This abstract describes a paper that studies the optimal reinsurance problem when risk is measured by a general risk measure. It is demonstrated that there is a “stable optimal retention” that will show no sensitivity, insofar as it will solve the optimal reinsurance problem for many risk measures, thus providing a very robust reinsurance plan.

Description: In a well-designed enterprise risk management (ERM) program, the firm integrates risk management into the strategic planning process, addressing strategic risk, financial risk, operational risk and hazard risk under a single overarching process. This is particularly important to large financial firms, such as property and casualty (P&C) insurers, which face a diverse set of risks. In contrast to previous studies that document a significant product line and geographic diversification discount relative to more focused competitors, our analysis suggests that firms with effective ERM programs exhibit a performance premium. Using the Standard and Poor’s (S&P) ERM ratings from 2006 to 2012, we find that product line diversification has a significant positive effect on value for more diversified firms with well-implemented ERM programs, as compared to those with weak ERM.

Description: This abstract describes a paper that introduces a generalized pricing framework for annuity-contingent derivatives where dependence between mortality and interest rate risks are explicitly modeled.