Description: Equity-indexed annuities [EIAs] can be viewed as mutual funds wrapped around with various guarantees. A recent paper derived a closed form formula for pricing this dynamic guarantee if early withdrawal from the fund [before maturity] is not permitted. This paper studies the pricing of dynamic protection without a maturity date, i.e., the investor chooses the date to cash in the fund accumulation.

Description: A study note for Exam MFE (Actuarial Models–Financial Economics Segment). This document describes the parameter d (delta) in the Black-Scholes formula.

Description: This abstract describes a presentation that provides an opportunity for MLC teachers to discuss various issues arising from the new MLC examination syllabus.

Description: This paper presents enhancements to the classical cash-flow matching approach to developing fixed income portfolio investment strategy by allowing cash carry-forward and borrowing from future surpluses.

Description: This paper presents how to compute how fast a country is growing. From the Actuarial Research Clearing House 1991 VOL.2.

Description: This paper develops mathematical transformations of variable interest credit and mortality charge scales to simplify calculation of policyholder cash value accumulation and related amounts. These transformations are of theoretical as well as practical interest. Additionally, they suggest new product designs. From Transactions of Society of Actuaries 1987, Vol. 39.

Description: The Cauchy integral formula is applied to derive various results on divided differences.