Description: It is the belief of this author that the subprime mortgage mess was none other than a Ponzi scheme repackaged into 21st century financial engineering clothes. What makes this scheme particularly disastrous is that the 21st century Ponzi mortgages were packaged and sold to investors and then trillions of dollars of derivatives were constructed based on the underlying mortgages, magnifying the problem by orders of magnitude.

Description: Reinsurance has been available for VA Guarantees for over 20 years. During that time, the reinsurance market for VA Guarantees has undergone frequent and sometimes violent transformations. Where does the market stand today? What forms and structures of reinsurance are available? Which VA Guarantee designs and features are easier to reinsure? Is reinsurance offered on both newly issued policies as well as in force/legacy books, and which vintages are difficult to reinsure? In an age of sophisticated hedging programs, what role does a reinsurer play in helping a VA writer manage this highly volatile risk? In this session, we will hear from a reinsurer that is actively writing new VA Guarantee reinsurance treaties in the U.S. and around the world, and from a VA writer that has successfully partnered with a reinsurer to enhance its VA product offering

Description: Organizations representing the actuarial profession in Canada and the United States have applied an improved methodology to the Actuaries Climate Index® starting with newly released ACI data for fall 2018, and the latest data show the previously reported upward trend in the key five-year moving average ACI metric continues.

Description: This article provides some insights into how actuaries can quantify DC plan risks.

Description: This article discusses how the industry as a whole is revisiting its risk management strategies in the wake of the financial crisis.

Description: The Indian market holds tremendous potential for insurance products, especially in segments that remain untapped. The market is evolving in terms of market penetration, product innovation, regulatory changes, government initiatives, capital adequacy and customer experience. In this report, we have highlighted insurance trends in India based on insights gathered from practitioners' interviews, available research and literature, with a particular focus on the enterprise risk management (ERM) function of insurance companies.

Description: The author summarizes certain presentations at the ERM II Systemic Risk Workshop. The key objective of the workshop was to develop recommendations that could serve as input to regulators, legislators and other policy makers in designing and implementing systemic risk regulation that can prevent future financial crises.

Description: In this article, the Editor talks about the changes to the newsletter and discusses prizes available for articles.

Description: The Chairperson of the section talks about how members can participate and make a difference in the section.

Description: In this article, the author examines Nassim Taleb’s work and writings and discusses its relevance to the future of the actuarial profession.