Description: This article discussed the reasons for and the processes associated with the demutualization of insurers in Canada. Canadian insurance experienced a radical transformation as the five largest Canadian mutual insurers completed their conversion to public companies. From: The Actuary, January 2000, volume 34, issue 1.

Description: The widening gap in life span between high- and low-income Americans may be eroding the progressivity of Social Security retirement benefits. Differential longevity trends have had the effect of raising lifetime benefits for high earners but not for low earners. Social Security’s long-term financial problems result in part from an increase in average life expectancy driven by wealthier people living longer, and, thereby, collecting more benefits. Policymakers should not use funding shortfalls attributable to these trends as an excuse to cut monthly benefits alike for those who have gained (high earners) and for those who haven’t (low earners).

Description: A summary and analysis of REG-103163-18, the proposed regulations providing guidance for property-casualty loss reserve discounting (LRD) under IRC Section 846.

Description: This article discusses the risk mix related mathematical rationale for national average ACA premium rates dropping for the first time in 2019.

Description: How insurers can include a liquidity score and liquidity stress scenarios as part of their asset liability management (ALM) protocol.

Description: How to make the third pillar of the pension system develop faster is a hot topic in the field of social security research in recent years. Its development is facing three dilemmas: cognitive dilemma, economic transformation dilemma and incentive dilemma. According to the order from easy to difficult, four suggestions are put forward: to build the third pillar system by introducing personal accounts; to separate individual accounts from urban and rural residence insurance and put them in the third pillar; to integrate housing funds into the third pillar; to turn short-term bank savings into long-term pension reserve by improving social welfare.

Description: The April/May 2016 edition of The Actuary magazine—the Society of Actuaries’ flagship publication.

Description: This is the second part of a 2 part series on Real options analysis (ROA). This article looks into the limitations of using financial option theory when doing real options analysis with projects that are long-dated and uncertain, such as: 1. First-degree homogeneity, 2. Uncertainty must derive from Brownian motion, and 3. Risk neutrality.

Description: This article describes Medicare Supplement and short-term care products in more detail, and we compare their risk profiles. We explore the concept that these two products—when offered together—may provide a complementary hedge of certain policyholder behavior risks.

Description: A news release announcing details on the upcoming FSA evolution