Description: View The Impact of Disaster Events on Investments – Contagion Channels Perspective.

Description: This paper explores the use of linear programming as a tool to guide policyholders in getting the most value out of their combined insurance and investment programs. Concentrating on flexible premium universal life within the tax environment of the United States, several linear programming models are developed that can be used at the point of sale, to select the most cost effective policy from those available in the marketplace, and after issue to maximize the present value of future cash flows on the policy of an insured who is in ill-health. From Actuarial Research Clearing House 1991, VOL. 3.

Description: One of the most important problems in Finance is the valuation of financial securities written on underlying assets whose prices are subject to uncertainty. This paper presents a technique to estimate the unknown stochastic volatilities by solving the inverse problem associated with the parabolic partial differential equation governing risk neutral derivative security prices. This technique can be applied in a very general multi-factor setting and numerical examples are provided.

Description: A study of the effect of random interest rates on life insurance programs and on annuities both certain and non-certain. This is done under several assumptions on the stochastic structure of the interest rates.

Description: This research report introduces the concept of a preference function, which is a generalization of the utility function.

Description: This report introduces actuaries and risk managers in the insurance and pension industries to current literature discussing growth rates in the past and future expectations.

Description: Research report describing the results of an Emerging Risks Survey conducted in 2010. This survey attempts to track the thoughts of risk managers about emerging risks across time. The new top five are: 1. Fall in value of US Dollar. 2. International terrorism. 3. Chinese economic hard landing. 4. Oil price shock. 5. Failed and failing states.

Description: This paper develops a new method of determining long-range interest rate assumptions. Followed by discussion papers submitted by 2 authors

Description: This discussion, of the same topic previously published in Vol. 12, No. 32, deals primarily with the Canadian aspects of investment policies and inflation. From Transactions of Society of Actuaries 1960, Vol. 12, No. 33.

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.