Description: The paper o ers a simple framework for ranking the common reinsurance struc- tures in practice with the theory of stochastic orders. The basic idea is to slice the space of reinsurance structures into groups by expected loss cost to facilitate the comparisons within the group and between groups. Given the standard risk aversion assumption in economics, a spectrum of reinsurance structures with the same expected loss cost can be compared analytically with one another and sequenced based on their risk coverages under the convex order. The paper then expands the dimension of the comparison to groups of reinsurance structures with di erent expected loss costs, which can be ranked under the increasing convex order and the usual stochastic order. As such, the paper maps out the ordering for the entire space of reinsurance structures and presents it in a ma- trix format for quick reference. The implication

Description: Demonstrating that incentive maximization could lead to failure using game theory. This is illustrated by the optimum strategy for the Prisoner Dilemma single period, multi period and infinite period that could be mutually destructive or beneficial.

Description: A response to the comments on the paper.

Description: Article On Making Ourselves Useful In Our Communities by Moorhead in The Actuary, June 1979, Volume 13, Number 6. Gasoline conservation.

Description: This article is the result of the Leadership & Development book club on Dare Lead. The article talks about major themes in the book and relates them to other podcasts and authors thought on those themes.

Description: Summarizes articles in this edition of the newsletter, which focus on insurance industry transformation and how actuaries can provide assistance in the process.

Description: Feature article describing what makes a company a systemically important financial institution and the new rules those companies will have to follow.

Description: While some people proclaim the imminent triumph of renewable energy, this article argues that fossil fuels will continue to be part of the energy mix.

Description: The purpose of the article is to highlight how a person or organization can excel in both a highly-competitive expert-driven environment and one where the environment is less so. One should focus on what can be done well and delegate the remaining tasks to those who are better at performing them. One should understand the environment they are operating in, how it impacts them, and how it may change through time. The principles have application to investment management, investment performance, organizational performance, business development, career progression and economics.

Description: A discussion of the hidden costs of administering complex Products including operational inefficiency, product development constraints, increased time to market, inability to monitor experience, and lost cross selling opportunities among other things