Description: The main elements of the current US, Canadian and proposed Solvency II regulatory capital regimes for property and casualty insurance companies are compared in this paper.

Description: A detailed statistical analysis of mortality improvement for the Canadian population and for the Canadian insured lives conducted by the Institute for Quantitative Finance and Insurance.

Description: This 2005 presentation from the 40th Actuarial Research Conference is about equilibrium pricing models and valuations related to hybrid pension plans.

Description: Formal report of the Accreditation Implementation Task Force to the Board of Directors at its June 2005 meeting. This document contains general objectives of the task force, membership and structure information, and the group's strategic plan for implementing an accreditation program for actuarial science academic programs.

Description: This paper reports on a detailed statistical analysis of mortality improvement for the Canadian population and for the Canadian insured lives. It considers mortality improvement in the context of life insurance -as opposed to annuities - where any allowance for improvement represents a less prudent approach than assuming current mortality rates continue.

Description: Author advocates reconsidering the 2005 education syllabus to include the study of modern finance in the syllabus for all actuarial students, not just those specializing in finance, investments, or risk management.

Description: This is the abstract for the paper on the application of Esscher transform to the Regime Switching Model.

Description: In this paper, the authors have analyzed the Cash Balance pension and contributions using the methods and principles of financial economics, to give a market consistent evaluation of the costs of the CB liability.

Description: The Defined Benefit 'DB' underpin Defined Contribution hybrid pension plan offers an attractive combination of benefit security and upside potential for pension plan members, and offers cost containment for employers, whilst still ensuring the provision of adequate equitable benefits. The DB underpin guarantee is valued and hedged as a financial option within the traditional funding paradigms of actuarial science. However, the average monthly hedging costs are time dependent and can be unstable when employees are close to retirement. This is the abstract of a paper that proposes some cost control approaches to reduce the volatility of the hedging cost.

Description: The purpose of this paper is to help practitioners and regulators more accurately quantify the potential impact of market risk on insurance products with equity-linked guarantees. To this end, this paper examines time series model selection and assessment based on residuals, with a focus on regime switching models. Also it discusses the difficulties in defining residuals for such processes and propose several possible alternatives. We determine that a stochastic approach to defining the residuals is the only way to generate residuals that are normally distributed under the model hypothesis.