Description: The article provides a summary of the Drake Risk & Opportunity Forum held on October 21, 2022. The forum was a hybrid conference that attracted more than 200 attendees from 17 states, two countries, 48 employers, and five universities. Following an introduction by the Zimpleman College of Business Dean, the forum held six sessions. First was an insurance company CRO panel followed by a panel of non-insurance company CROs. Gary Zhu shared his outlook for interest rates and capital markets. The fourth panel discussed insurance capital models. The fifth panel discussed environmental, social, and governance (ESG) criteria when building insurance company investment portfolios. The final session of the day was a discussion about the NAIC, how they operate, and their priorities for the coming year.

Description: The LTC insurance sector faces a crisis of credibility due to recent company failures. Market evidence indicates reduced confidence in the reserve sufficiency of companies with large legacy LTC exposures. Disclosures show the persistence of problematic actuarial and investment return assumptions. Institutional backstops exist but vary by jurisdiction and have elements which can exacerbate rather than ameliorate problems. Fortunately, LTC liabilities accrue over long time periods. An industry supported incentive structure can be conceived that would establish stronger standards and encourage greater reserving in exchange for a more reliable and rational backstop.

Description: View the Attendee List by Company Name.

Description: View the Attendee List by Last Name.

Description: View presentations from the 2017 SOA Valuation Actuary Seminar.

Description: The recent financial crisis created incentives to review investment practices and see what was done well and what could be improved for the future. Looking inward at insurer investment practices, background trend information was generated and a survey developed for insurers to share their thoughts. The research continued with conversations in private and public forums, where initial conclusions were expanded.

Description: The paper presents the history of mortgage guarantee insurance in the US, beginning briefly with the history of banks and banking regulation and ending with implications for the future.

Description: This document is a list of acronyms used by the SOA.

Description: This paper sets out to demonstrate that the economic capital, risk drivers, and business model are intricately integrated, and that this has broad implications on enterprise risk management for financial institutions. From 2007 Enterprise Risk Management Symposium, M-AS07-1.

Description: Full version of Risk Management, July 2005, Issue No. 5.

Description: This article discusses how FHLB advances, i.e. low cost loans, can supply valuable risk management benefits. By carefully structuring an advance to mature coincident with the anticipated premium inflows generated by insurance products, a company can largely eliminate future net cash flows and consequently the need to invest them in uncertain capital markets.

Description: This articles gives an overview of the recent Investment Actuary Symposium.

Description: Full version of Risks and Rewards Newsletter, February 2003, Issue No. 41.

Description: This presentation is a panel discussion, session number 43PD, from the 2002 Valuation Actuary Symposium, held September 19-20 in Lake Buena Vista, FL. The panelists provide an overview of the current risk-based-capital [RBC] requirements for life insurers, as well as recent and potential changes to RBC. They discuss reinsurance, including off shore solutions. Recent changes they discuss include Phase I C-3, interest-rate risk for annuities and single premium life, common stock changes, and deferred-tax recognition. The panelists also discuss the proposed stochastic modeling standard C-3 Phase II for variable annuities. Discussion from participants is included.

Description: Presented at May 2002 Spring Meeting. This session describes the general features of advance programs operated by various Federal Home Loan Banks, summarizes potential benefits to insurers and identifies key issues surrounding the programs.

Description: Full version of Risks and Rewards Newsletter, May 2002, Issue No. 39.

Description: The US life insurance industry is just beginning to talk about risk management best practices. This article discusses the practices that have evolved in other industries by those before.

Description: Recent passage of the Gramm-Leach-Bliley Act increased the access that insurers have to low-cost loans advances offered by the individual banks of the Federal Home Loan Bank FHLB system. This article describes the general features of how advance programs work, their potential benefits to insurers and key issues to consider.

Description: 1999 SOA Annual Meeting, San Francisco. The panel discussed recent developments in the equity-linked note market. Topics included: 1. New structures that allow active management. 2. Trade-offs affecting participation rates. 3. Accounting issues. 4. Tax issues. 5. Risk-based capital issues.

Description: In session 4 PD of the Montreal Spring Meeting panelists discuss the complexities and timing issues involved in determining an earned interest rate. From the Record of the Society of Actuaries, Vol. 23, No. 2.

Description: Full version of The Actuary Newsletter Volume 27, Number 8 - October 1993

Description: This article discusses the goal of the Society's new Task Force on Banks and Financial Institutions which is how the actuarial role can be extended into financial institutions.

Description: Full version of The Actuary Newsletter Volume 26, Number 1 - January 1992

Description: This presentation is a concurrent session from the 1991 Meeting of the Society of Actuaries, held April 18-19 in New Orleans. The panelists discuss real estate related assets and the position of insurance industry in light of the savings and loan crisis, and the regulatory structure and how it has changed and will continue to change. Discussion from participants is included. From the Record of Society of Actuaries, Volume 17, No. 1.

Description: This session at the SOA 1990 San Francisco Spring Meeting is about modeling investments including the relationship to pricing, modeling techniques, scenario creation, and modeling of collaterized mortgage obligations [CMO].

Description: This session at the SOA 1990 Hartford Spring Meeting presents an overview of asset backed securities including the various types available - many based on auto loans and credit cards, their return characterisitics, and the credit risk aspects of this market.

Description: This session discussion is about results and implications of the Futurism Section's 1989 Delphi Project. This study developed input on important issues and changes facing our profession and industry. From Record of the Society of Actuaries Vol. 15, No. 3B.

Description: Panelists discuss: [1] investment quality as a dynamic investment consideration, [2] the impact of securitization on investment quality, [3] measuring default risk, and [4] the interrelationship between C-1 risk and C-3 risk. From the 1988 Record of Society of Actuaries, Vol. 14, No. 4A.

Description: Presented at June 1986 Spring Meeting. This session discussion is about the current position of the Treasury Department on deregulation, whether banks should underwrite insurance, partnerships between agents and financial institutions, persistency and expense considerations, and tie-in sales.

Description: Presented at May 1985 Spring Meeting. This session discussed the differences in the reporting of product line and source of earnings results between insurers and banks and the practical problems which exist in interpreting gain by source or product-level.

Description: This session from the 1984 SOA Toronto Meeting examines the current proposals, regulation and deregulation in the U.S. sector and Canada, The Baldwin-United problem and the implications for the life insurance framework in Canada. From Record of the Society of Actuaries Vol. 10. No. 4

Description: This session from the 1984 SOA Atlanta Meeting covers the deregulation that has already occurred within financial industries including banking regulations regarding underwriting and selling insurance and some insight into possible future deregulation.

Description: This presentation from the 1983 SOA Vancouver Meeting covers the actuaries' role in matching assets and liabilities, hedging, disintermediation risk and determining the appropriate level of surplus, the future of products with market value cash out adjustments and indexation in the construction of long term debt instruments. From Record of Society Of Actuaries Vol. 9. No. 3

Description: This panel discussed studies of the risk of loss due to changes in the interest rate environment. It addressed why the C-3 risk is important and how inflation and stability in interest rates can affect the financial soundness of life insurance companies. There was also a discussion of the theoretical work being carried out to calibrate the C-3 risk of variation in interest rates and to what extent the valuation actuary can properly recognize the risk of loss from changes in the interest rate environment within the framework of valuations laws and regulations.

Description: This 1981 session dealt with Influencing Legislation and Regulation including: I. The legislative and regulatory processes. 2. What are hearings? What is their purpose, and who participates? 3. A look at how an actuary can affect the process. From Record of Society of Actuaries, Vol. 7, No. 2.