Description: Read the French language version of the March 2018 issue of Risk Management published by the Joint Risk Management Section. Newsletters provide practical information for the working actuary, articles on trends that impact sections and news about section activities.

Description: This paper shows that the Esscher transform is an efficient technique for valuing derivative securities if the logarithms of the prices of the primitive securities are governed by certain stochastic processes with stationary and independent increments. From the Transactions of Society of Actuaries 1994, Vol. 46.

Description: This article argues that wealth managers should advocate dynamic spending in proportion to survival probabilities, adjusted up for exogenous pension income and down for longevity risk aversion. The authors criticize the rule of thumb of spending a fixed 'x' percent of assets for retirement planning purposes.

Description: This paper sets out, in algorithm form, a one-factor term structure model of interest rates and illustrates the application of such a model to the valuation of loans with prepayment provisions. From the Transactions of Society of Actuaries 1994, Vol. 46.

Description: Read an excerpt from Loss Models, From Data To Decisions, Fifth Edition.