Description: Several years into the Risk Based Examination process, the NAIC now is working to augment that process with a significant new risk related regulation requirement for U.S. insurers. This article explores ORSA, or Own Risk and Solvency Assessment.

Description: The author discusses how China is poised for dramatic changes in its life insurance industry that will raise both opportunities and challenges. The author notes that China has particularly spectacular growth prospects, and given the nature of the business, the industry will have an almost insatiable appetite for capital. However, In order to accomplish this, China's insurance industry needs to advance its financial management and improve its ability to produce transparent financial information, in a timely and reliable manner. The author compares China’s current position in the life insurance compared to other Asian countries, and describes the steps needed to improve its financial management.

Description: Key points of the conceptual framework of China’s new solvency system, the “China Risk Oriented Solvency System” (C-ROSS).

Description: Summarizes articles in this edition of the newsletter, which focus on insurance industry transformation and how actuaries can provide assistance in the process.

Description: Feature article describing what makes a company a systemically important financial institution and the new rules those companies will have to follow.

Description: Feature article that defines strategic risk management (SRM) and discusses ways to design and optimize a company’s SRM process.

Description: The editorial cautions that while the development of more sophisticated models may increase efficiency, it is important to consider the very real risk management costs associated with the increased complexity, efficiency and overconfidence in the predictive power of models.

Description: This article is about a session held at the October 1996 annual meeting, which focused on how actuaries can move beyond traditional employers.

Description: This article discusses the actuarial profession and its role and needed skill set development going forward in meeting the needs of businesses for risk management and capital management

Description: Insurance companies use derivatives to manage and mitigate risks that are inherent in their investment or liability portfolios, including traditional asset/liability matching, dynamic hedging and static hedging. The authors explore how Solvency II will influence life insurers’ hedging strategies.