Description: A glossary of terms.

Description: The theme of this presentation relates to solving portfolio selection problems using linear and fractional programming. Two key contributions: 1. Generalization of the CVaR linear optimization framework. 2. Equivalences among four formulations of Coherent Distortion Risk Mearures optimization problems. From Actuarial Research Clearing House, 2012, Vol. 1.

Description: The Asian insurance landscape is undergoing significant change, with Japan experiencing a surge in reinsurance activity. This webcast will explore the factors driving this growth and provide insights into the current state and future direction of the Japanese reinsurance market. We'll delve into the unique characteristics of the Japanese market, examining the specific reinsurance needs of Japanese life insurers and how partnerships with US and offshore reinsurers are evolving. Looking ahead, we'll analyze the expected trajectory of the market, including the types of business and products likely to see increased demand. We'll also discuss how emerging economic factors and regulatory changes will shape future needs and the competitive landscape. Join us to gain valuable insights into this dynamic market and its future potential.

Description: The heart of a reinsurance arrangement is that a loss by the direct writer will be covered. The risk that coverage may be lost can be managed—practical steps can be taken to ensure that the ceding company and reinsurer remain in agreement about what business is and is not covered under the terms and conditions of the reinsurance agreement.

Description: There is no right price for a piece of insurance. There is simply the transacted market price, which is high enough to bring forth sellers and low enough to induce buyers. From Securitization of Insurance Risk: The 1995 Bowles Symposium, M-FI97-1.

Description: The article “IFRS 17, Economic Volatility, and Reinsurance” (IFRS 17, Economic Volatility, and Reinsurance | SOA) was designated the best article published in Reinsurance News in 2022. It looks at providing industry insights on preparing for the new global accounting standard. The article was submitted by Paul Sauvé (RGA) and it appeared in the June 2022 issue.

Description: The article is introducing and promoting the value of RAPA, the Reinsurance Administration Professionals Association as a forum for information sharing, networking, education and training of insurance and reinsurance professionals responsible for reinsurance administration.

Description: Reinsurance reduces the required capital of the primary insurer but increases that of the reinsurer. Capital is costly. All capital costs, including that of the insurer and the reinsurer, are ultimately borne by primary policyholders. Reducing the total capital of insurers and reinsurers brings down the total capital cost and the total primary policy premium. A reinsurance arrangement is considered optimal—if it minimizes the total required capital. This optimal reinsurance is an attracting equilibrium under price competition. Evidence suggests an inverse relationship between the total required capital and the correlation between the losses held by different insurers and reinsurers. Examples are constructed to examine this and other properties of the optimal reinsurance.

Description: The session from the 2003 SOA Orlando Meeting covers workers' compensation carve-out, spiral and medical reinsurance, GMDB reinsurance and select and ultimate term. It also discusses the lessons learned from the reinsurance disasters. From the Record of the Society of Actuaries, Volume 29, No. 3.

Description: The reinsurance market is experiencing unprecedented growth in both frequency and severity of catastrophic medical claims. Most experts identify specialty drugs, new gene therapies and high-intensity hospital in-patient stays as contributing factors. With Rx claims, high-cost drug protocols are creating chronic high-cost cases over multiple years. What can actuaries do to rapidly identify these cases? If identified, what techniques can be used to reduce or manage cost? Panel will include a nationally recognized consulting actuary, health plan executive and reinsurance executive.