Description: This presentation is a panel discussion, session number 34PD, from the 2002 Valuation Actuary Symposium, held September 19-20 in Lake Buena Vista, FL. A fundamental step in stochastic asset/liability modeling is to choose an appropriate underlying economic scenario generator. In this session, panelists discuss various scenario generation techniques and theories, assumptions underlying interest and equity scenario generators, and choosing suitable economic scenario generators for different applications, the two most common being pricing models [for assets and liabilities], and risk analysis models, used for asset/liability management, investment strategy, regulatory solvency, and capital adequacy. Discussion from participants is included.

Description: Panel discusses the selection of both economic and demographic assumptions in funding pension plans. They include the impact on selection of economic assumptions from the recently released Actuarial Standard of Practice [ASOP] No. 27, 'Selection of Economic Assumptions for Measuring Pension Obligations.' From the 1997 Record of Society of Actuaries, Vol. 23, No. 3.

Description: This article is the second installment in a three-part series on economic scenario generators (“ESGs”). Part I was published in the November 2019 issue. Part II addresses critical considerations in selecting, building, using, and validating ESGs. The article discusses key criteria in understanding ESGs including: - Risk factors - Scenario type - Process and parameterization - Calibration - Number of scenarios - Timing considerations

Description: The author describes how his company was able to benefit from an application of risk theory.

Description: This paper describes a new major medical policy from The Equitable. The author describes the policy and discusses anticipated claims experience and the calculation of gross premiums. From Transactions of Society of Actuaries 1955 Volume 7, Number 17.

Description: Review of ideas and concepts presented at the Living to 100 symposium. The ideas include projections of future longevity, medical breakthroughs that may extend longevity and the potential benefits from slowing the aging process.

Description: This paper introduces actuaries and others to dynamic stochastic general equilibrium (DSGE) models, a type of macroeconomic model. Authored by Kailan Shang, the paper illustrates how DSGE models can be used in economic scenario generation to reflect the cause and effect relationships that occur in the economic system.

Description: These are the minutes of the Annuall Meeting of the Society of Actuaries held in White Sulphur Springs, WV on November 9-11, 1950. From Transactions of Society of Actuaries 1950, Vol. 2, No. 4.

Description: This is the minutes from the Regional Meeting held in Atlanta, Georgia on April 9-10, 1984. From Transactions of Society of Actuaries 1984, Vol. 36.

Description: This is the meeting minutes from the Regional Meeting held in St. Paul, MN on May 24-25, 1973. From Transactions of Society of Actuaries 1973, Vol. 25, Pt. 1, No. 72 AB.