Description: This session 112 PD of the Toronto Spring Meeting covers principles developed during the Unified Valuation System UVS project of the American Academy of Actuaries with support from the Society of Actuaries and the Financial Reporting Section of the SOA. From the Record of the Society of Actuaries, Volume 27, No. 2.

Description: Tomorrow’s risk landscape is shaped by macro trends and their interconnections, and those new, changing but not-yet envisioned risks will shape tomorrow's insurance needs. Karen would like to share Swiss Re's insights on new emerging risk themes and trends, climate change and its effects on the L&H business. Hopefully the session can provoke new ideas and enable us to build resilience together.

Description: This article is based on the author's discussions with many executives of insurance companies regarding the challenges and limitations in ERM at its current state of evolvement. The following areas need to be addressed and improved on, in the author's opinion, to 'take ERM to the next level': 1. Reconciling Risk Concerns of Creditors and Shareholders. 2. Managing of Operational Risk. 3. Execution Risks. 4. Producing Credible and Useful Risk Adjusted Performance Measures. 5. Aligning Performance Metrics with Management’s Performance Measurement Philosophy.

Description: 2003 Valuation Actuary Symposium, San Diego, CA. This session addressed the emerging practice where management is developing new ways to examine financial risks holistically in an integrated model.

Description: A table from an article in The Actuary Magazine entitled An Analysis of Risk Management Terminology - Your guide to speaking ERM with different industries.

Description: This study examines and describes parameter uncertainty. The paper provides structures to incorporate parameter uncertainty in quantifying risk.

Description: 2011 Enterprise Risk Management Symposium, Chicago. This is the abstract of the entitled paper.

Description: 2011 SOA Enterprise Risk Management Symposium, Chicago. This is the abstract of the referenced paper.

Description: This report looks at identifying drivers of systemic risk to China’s insurance industry and develops a measurement method for systemic risk as well as systemic risk dependence between the insurance industry and other industries.

Description: Reinsurance has been available for VA Guarantees for over 20 years. During that time, the reinsurance market for VA Guarantees has undergone frequent and sometimes violent transformations. Where does the market stand today? What forms and structures of reinsurance are available? Which VA Guarantee designs and features are easier to reinsure? Is reinsurance offered on both newly issued policies as well as in force/legacy books, and which vintages are difficult to reinsure? In an age of sophisticated hedging programs, what role does a reinsurer play in helping a VA writer manage this highly volatile risk? In this session, we will hear from a reinsurer that is actively writing new VA Guarantee reinsurance treaties in the U.S. and around the world, and from a VA writer that has successfully partnered with a reinsurer to enhance its VA product offering.