Description: Risk management and capital budgeting are two critical components of the corporate decision process. They often need to be considered jointly at the corporate level because of their natural interaction through the dependent risk exposures and other synergetic relationships within an intricate corporate structure in a dynamic business environment. . This paper develops an integrated framework that aligns these two important corporate strategies across business divisions to optimize the streamlined enterprise strategic goal in a multi-period setting. The proposed integrated framework can serve as a practical guideline for corporate executives to optimally coordinate capital budgeting and risk management at the enterprise level.

Description: This article discusses the current state of the IAIS' initiative on their group Insurance Capital Standard.

Description: European insurance regulation pretends to capture and rely on the 1-year 1-in-200 VaR. But there cannot exist any scientific calibration of such measure. Why?

Description: This article discusses incentive compensation metrics set to motivate performance, retain people, satisfy legal constraints and Say-on-pay and promote good risk management. Alignment discussion between actual metrics characteristics and the behavior they promote.

Description: Hear from the chairperson on themes in the August 2016 issue of Risk Management published by the JRMS.

Description: We analyze how volatility management techniques in VAs affected policyholders and insurance companies

Description: The article is based on a study of causes of insolvency and decisions made by management, regulators, and policyholders over the life cycle of the insolvency.

Description: An abbreviated version of a larger chart produced by the International Actuarial Association.

Description: Article describing key steps to develop an incentive compensation plan that aligns to the company’s risk profile, mitigate excessive risk taking, retain talent and meet the disclosure requirements. The yearly development cycle includes develop the incentive compensation program, communicate and implement and assess the plan performance on both short and long term horizon.