Description: This crisis first started with subprime loans and quickly morphed into a credit crisis that eventually engulfed a lot of financial institutions around the world. If a AAA were really a AAA, this crisis would probably have been contained and localized. As the crisis developed, evidence emerged from the shadows that revealed the questionable quality of some AAA-rated MBS or ABS. Subprime loans were the weakest link. As the credit boom came to an end and the economy slowed down further, the Alt-A, prime and credit card loans were also affected. The subprime crisis is only the symptom of a much larger underlying problem. Both consumers and corporations were overleveraged.

Description: The Society of Actuaries (SOA) published its first COVID-19 research brief on March 10, 2020, followed by regular updates and expansions through June 12, 2020. The comprehensive report includes a section of Key Statistics. On July 24, 2020, the SOA released a report showing updates through July 22 to selected graphs from or related to the Key Statistics section of the comprehensive report. This report provides similar updates through August 9, 2020.

Description: The American Academy of Actuaries and the Society of Actuaries (SOA) have joined resources to manage the economic scenario generators used in regulatory reserve and capital calculations.

Description: Re/insurance rates have been increasing since 2018, although pricing momentum has decelerated recently. Insurers and reinsurers are working to enhance profitability and improve the value proposition for clients in an environment of uncertainty about natural catastrophes, COVID-19-related losses, and social inflation, among other factors. This article describes drivers of the current underwriting cycle, compares it with past cycles, and provides considerations for the future.

Description: Editorial discussing the tumultuous insurance industry and current financial crisis.

Description: Many countries have suffered the ups and downs of the COVID-19pandemic, and Mexico is no exception. Even worse, in contrast withEuropean countries that saw numbers dip during the summer of2020, Mexico did not. A first peak was reached at the end of July2020, then a slight decrease in the following two months. SinceOctober, Mexico has experienced the worst increasing trend of thewhole epidemic. In this article, Arturo Erdely, a professor of actuarialscience, explains this increase.

Description: Actuaries are increasingly being asked to incorporate Economic Scenario Generators into their work. Whether it be a Risk Neutral model for pricing or a Real-World version for Economic Capital modelling, using these tools can help produce a much more robust analysis. Unfortunately, these models and their underpinnings are also very complicated, which can lead to confusion. The presenters in this session will try to demystify some of this. In particular, they will address the following questions: • What is the difference between Real-World and Risk Neutral scenarios? • When should I use one or the other? • How are these models calibrated? • What are some of the misconceptions about these models?

Description: 2021 ImpACT Conference - Session 13E: Managing Cognitive Bias in ERM Processes 10.29.21 Recording

Description: Investment opportunities are driven by events in the economy and how participants in the financial markets react to those events. This keynote address will highlight current economic themes and their impact on investment opportunities.

Description: The presenters will discuss the current interest rate market environment and what insurance companies can do to best protect themselves from interest rate risk. The presenters, industry leaders in financial risk management, will explore how different products and strategies—including swaps, options, and other derivatives—are being used in today’s market. The discussion will include how to model and measure interest rate risk, how to quantify hedge effectiveness, and how to improve hedging operations.