Description: The author defines what a personal actuary is, provides examples of the typical work of a personal actuary and outlines some of the sections current initiatives.

Description: Book Review of "Cheating Death, the Promise and the Future Impact of Trying to Live Forever", by Marvin Cetron and Owen Davies.

Description: An overview of the “Breaking away from the Curve” webcast.

Description: The Actuary of the Future is all about our future marketplace relevance as actuaries.

Description: May 2008 issue of the Actuary of the Future Section newsletter, Actuary of the Future

Description: Overview of a seminar on effective ERM strategy.

Description: Karan Phadke discusses his experience as the AOF Section Council Intern.

Description: In this paper we study the pricing of financial options and contingent claims. We show that two time-honored concepts in actuarial science - the Esscher transform and the adjustment coefficient - are efficient tools for pricing many options and derivative securities if the logarithms of the prices of the primitive securities are certain stochastic processes with stationary and independent increments. We also study the pricing of American options on two stocks without expiration date and with payoff functions which are homogeneous with respect to the two stock prices.

Description: This is the fourth paper on n-year roll forward reserve financing of public benefit systems, especially Old-Age, Survivors and disability Insurance OASDI, prepared by University of Michigan faculty and students. As the papers have developed, some ideas have been simplified, while others have become more complex. It is concluded that the theoretical model requires further attention. This research can be extended to expand our knowledge of OASDI financing and the applicability of n-year roll forward reserve financing.

Description: In this paper,we present a method which first converges a two dimensional data to a univariate one and then uses the interval censoring technique to estimate the probability of failure of a Joint-life status from a heavily censored data. Our study shows that the life annuities of joint-life status calculated assuming independence overestimates the ones evaluated from an actual sample of population.