Description: This paper develops a conceptually rigorous formulation of the cost of capital method for estimating margins for mortality, lapse, expense and other forms of underwriting risk.

Description: Regulatory Update, First Six Months 2014

Description: Describes why, contrary to common opinion among financial economists, investments may be less risky for a longer time horizon. Describes where the assumptions underlying Paul Samuelsons assertion may not apply

Description: Describes qualitative relationships among market factors that should be addressed in a successful "real world" calibration of a stochastic investment scenario set.

Description: SOA executive director’s column, research on Asia insurance opportunities, e-courses, recent research and experience studies, and professional development opportunities.

Description: The author delves into other important parts that should be in the scope of model validation besides the code.

Description: French language version of Risk Management, August 2014 newsletter.

Description: Recently completed experience and research studies from the SOA.

Description: Complete issue of the August 2014 Risk Management newsletter.

Description: The August/September 2014 edition of The Actuary magazine—the Society of Actuaries’ flagship publication.

Description: In this article, the authors discuss “tail events,” market dislocations deemed a priori, to be statistically improbable.

Description: This article discusses the concept of All models are wrong but some are useful.

Description: Article discussing the risk focused exam approach incorporated in the Financial Condition Examiners Handbook.

Description: In this article the editor previews the issue.

Description: An update from the ACLI staff to keep readers informed about the organization's work on tax issues affecting the life insurance industry.

Description: Congress once again turns to defined benefit pension plans as a misguided source for financing programs that have nothing to do with retirement.

Description: The article describes a dynamic investment strategy for defined benefit pension funds to de-risk the plan by changing the asset mix based on the funded ratio.

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: Research is a primary mission of the Financial Reporting Section and is the largest use of section dues. This scorecard will keep section members informed about research projects sponsored or co-sponsored by the section.

Description: Reinsurance News, Reinsurance Section, Issue 78, March 2014

Description: Interview with Michael DeKoning, CEO of Munich American Reinsurance Company

Description: Full issue of Risk Management, March 2014

Description: This article discusses the details of what happened in equity repo in 2013.

Description: The article summarizes recent regulatory discussions of interest to small insurance companies, primarily related to issues discussed at the NAIC.

Description: The February/March 2014 edition of The Actuary magazine—the Society of Actuaries’ flagship publication.

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

Description: Compares how other industries (in this case, Fast Food) researches and tests new products. Provides examples of how the insurance industry can efficiently research and test new product concepts before going to market.

Description: Twice a year the Intersector Group meets with representatives of the U.S. Department of Treasury (Treasury Department) and the Internal Revenue Service (IRS) to dialogue with them on regulatory and other issues affecting pension practice. The following individuals participated in the March 13, 2013, meeting with the IRS and the Treasury Department: Tom Finnegan, Don Fuerst, Alan Glickstein, Eli Greenblum, Judy Miller, Heidi Rackley, Larry Sher, and Sarah Wright. David Goldfarb, Academy staff member supporting the Intersector Group, also attended.

Description: The December 2013/January 2014 edition of The Actuary magazine—the Society of Actuaries’ flagship publication.

Description: Interviews with several actuaries who are subject matter experts in the health field to get their perspectives on implementing the Affordable Care Act (ACA).

Description: Readers are given an introduction to a PBA Implementation Guide for Life Products.

Description: Accomplishments of the past year and a look at initiatives for the year ahead.

Description: The December 2013 issue of the Financial Reporting Section’s newsletter, The Financial Reporter.

Description: The author explores research and concerns about sustainability, and how actuaries can contribute to the discussion.

Description: Chairperson’s column addressing the changes the new year will bring.

Description: December 2013 issue of Forecasting & Futurism newsletter

Description: Feature article describing the events of the Valuation Actuary Symposium in Indianapolis, In.

Description: This scorecard will keep section members informed about research projects sponsored or co-sponsored by the section.

Description: This article discussed the NEAT family of neural network algorithms. NEAT automatically determines the number of hidden neurons, as well as their structure. Additionally HyperNEAT can scale to very large problem domains.

Description: The author uses a reprint of an article from the very first edition of the “News from the Individual Life Insurance and Annuity Product Development Section” and assistance from the Taxation Section Council and Friends of that Council to decipher the changes between the life insurance tax environment back in the 1980s compared to today.

Description: This article discusses the The Assumption Development and Governance Group (sponsored by the Financial Reporting and Product Development Sections).

Description: Universal Life/Indexed Universal Life trends based on the 6th annual Milliman survey of leading UL carriers. Reveals the current dynamics of the UL/IUL market and provides carriers with competitive benchmarking to see how they stand relative to their peers.

Description: This article discusses sessions from the product development section post symposium seminar on product development - beginning to end. Sessions included product specific topics like term, universal life with secondary guarantees, and indexed products. Panel discussions included inforce management and advanced modeling issues.

Description: A review of the major activities and accomplishments of the Smaller Insurance Company Section over the last year.

Description: Update on new mortality tables in development - 2012 IAR, 2014 VBT, and SI/GI/Preneed

Description: Feature article summarizing the discussions of The Assumption Development and Governance Group (sponsored by the Financial Reporting and Product Development Sections)—a group formed in April to offer an opportunity for actuaries to participate in discussions around key topics and establish industry contacts in the field of assumptions.

Description: In the summer of 2012 the SIC decided the time was right to find out what current practices were with respect to Asset Adequacy Testing. This article summarizes the survey process and results obtained. The purpose of the survey was twofold: first, to educate actuaries prior to year-end work about current AOMR practice reflecting changes since the American Academy of Actuaries’ (AAA’s) 2004 Practice Note had been issued; secondly, to provide enough information such that an update of that practice note could be done should the AAA decide a revision to the note was desired.

Description: The September 2013 issue of the Financial Reporting Section’s newsletter, The Financial Reporter.

Description: he co-editors introduce themselves and preview the articles in this issue.

Description: The July 2013 issue of the SOA’s Forecasting & Futurism section’s newsletter, Forecasting & Futurism.

Description: A book review by Scott McInturff of The Signal and the Noise: Why So Many Predictions Fail - But Some Don't authored by Nate Silver.

Description: RL Asset Liability Watch, July 2013 Resource for Pension Section members

Description: Feature article discussing how life insurers must carefully address the premium levels for large term in-force blocks that are now entering their renewal periods.

Description: Interview with Peter Schaefer, CEO of Hannover Life Reassurance Company of America.

Description: Developing a formal strategy to guide the SOA’s activities with respect to public policy-related topics is underway. Recent experience shows that non-partisan contributions through the SOA’s research are already adding value to important public policy discussions.

Description: Feature article discussing the changes the International Accounting Standards Board’s new accounting standard will bring.

Description: June 2013 issue of the Social Insurance & Public Finance Section newsletter, In The Public Interest.

Description: This article consists of a point-counterpoint dialogue addressing important aspects of social insurance programs. It discusses the desirability and advantages of these programs that provide financial assistance to those who are retired, disabled, ill or unemployed.

Description: Research is a primary mission of the Financial Reporting Section and is the largest use of section dues. This scorecard will keep section members informed about research projects sponsored or co-sponsored by the section.

Description: Then and Now

Description: The article is a case study of various actuarial concepts invovled in the design and implementtion of the AQC - a global budget provider payment arrangement implemented by Blue Cross Blue Shield of MA.

Description: Actuary of the Future, the newsletter of the Actuary of the Future Section. April 2013, entire issue

Description: The April/May 2013 edition of The Actuary magazine—the Society of Actuaries’ flagship publication.

Description: Cassie He and Linda Liu, two actuarial students invite Dave Pelletier, an actuary with 38-year experience to share with us his career experience and his insightful views on the future of the actuarial profession.

Description: The March 2013 issue of Reinsurance News