Description: The author, noting the inadequacy of traditional ‘rules of thumb’ used for profit objectives, demonstrates that, assuming a stock life insurance company’s objective is to maximize its current value, the profit objective can be expressed as maximizing ‘the present value of book profits per unit of limiting constraint.’ Includes discussion and author’s review of discussion. From Transactions of Society of Actuaries 1983 Volume 35.

Description: This session at the SOA 1990 Annual Meeting presents an overview of the life insurance business in all parts of Europe, Latin America and the Far East. Differences in culture, economics, markets and regulation are highlighted.

Description: Examination of how mean reserve factors can best be calculated in light of the new accounting reporting requirements for the earnings of stock life insurance companies. Also examines some methods of expense amortization, including the reserve factor method, and also attempt to show an informative comparison of how reported calendar-year earnings can be expected to emerge with statutory mean reserve factors, natural mean reserve factors, and assorted expense amortization methods. Followed by several submitted discussion papers

Description: The purpose of this discussion is to broaden the perspective of the practicing actuary by discussing the possible effects of genetic engineering on our policyholders and clients. To this end, we will be describing genetic engineering and the part if may play in changes in longevity. We will also be discussing the effect of such changes on current mortality trends and will comment on how actuaries can anticipate and respond to such changes. From Record of the Society of Actuaries 1979, Volume 5, No. 1.

Description: This paper begins with an investigation of the conceptual profit model known as Anderson's formula, then it compares Anderson's formula with two alternative profit formulas and discusses some applications and limitations of each method. A discussion of the paper follows. From Transactions of Society of Actuaries 1979, Vol. 31.

Description: 1993 SOA Annual Meeting, New York. In this session senior insurance executives discussed a wide variety of topics including: 1. Image of industry. 2. Technology. 3. Complex competitive environment. 4. Expense and profitability problems. 5. Expansion of government programs. 6.Positioning for potential health insurance reform. 7. Maximizing profitable use of information technology. 8. Downsizing, outsourcing and lean staff. 9. Product focusing and niche marketing. 10. Joint ventures versus mergers. 11. Improving the image of the industry. 12. Managing employee relations in a climate of change. 13. Motivation and empowerment of employees.

Description: Panelists discuss the types of information that management needs, the ability of GAAP to meet these needs, and some modifications that might make GAAP more meaningful to management. Includes discussion about the advantages and the shortcomings of GAAP, what practices are followed by Canadian companies, and the differences between stock and mutual companies. From the 1987 Record of Society of Actuaries, Vol. 13, No. 3.

Description: Presented at October 1996 Annual Meeting. This discussion reports the progress the International Forum of Actuarial Associations made during its year and a discussion of plans for the coming year.

Description: Presenters focus on the skills and abilities needed by actuaries to be successful in senior management. From the Record of the Society of Actuaries, Vol. 25, No. 3.

Description: This discussion at the SOA 1968 Philadephia and Los Angeles Regional Meetings covers premiuims and dividend determination methods for individual ordinary insurance, new product ideas such as nonsmoker policies, profit analysis methodologies, and methods for comparing products of different companies.