Description: This paper provides a novel approach to the valuation of the market value of economic surplus that is stable and immune from “market noise”.

Description: The Smaller Insurance Company Section, the Committee on Life Insurance Research and the Product Development Section announce the release of a new report on the impact mortality credibility has on principle-based reserves.

Description: Read the March 2018 issue of The Financial Reporter published by the Financial Reporting Section. It provides practical information for the working actuary.

Description: This article describes methods for addressing technical challenges related to modeling asset cash flows for PBR reserve projections.

Description: View the Spring 2018 MLC—Models for Life Contingencies Syllabi.

Description: Review the syllabus for SOA's Fall 2017 administration of exam MLC.

Description: View the Models for Life Contingencies Exam Spring 2017 Syllabi.

Description: Fall 2016 Syllabi

Description: View the Spring 2014 Models for Life Contingencies syllabus.

Description: Fall 2013 Exam MLC syllabus

Description: The Spring 2013 Advanced Portfolio Management Exam case study.

Description: The spring 2013 syllabus for Exam MLC, Models for Life Contingencies.

Description: Fall 2012 Exam MLC syllabus.

Description: Spring 2011 Case study for APMV.

Description: Case study for Exam FETE.

Description: Draft version of the revised Learning Objectives that will go into effect for the Spring 2012 administration of Exam MLC.

Description: Society of Actuaries Centers of Actuarial Excellence A-Level Criteria Appendix B: SOA Examination Learning Objectives Worksheet.

Description: A research project with the Society of Actuaries on interest rate hedging on traditional life and health insurance.

Description: Table 4

Description: Discussion about recent ALM and Benchmarking survey conducted by strategic consulting firm Patpatia & Associates.

Description: Full version of Small Talk Newsletter, June 2005, Issue No. 24.

Description: This is an article about the maximum rates permitted for valuation and nonforfeiture that have remained steady for life insurance since 1995. From Small Talk Newsletter, June 2005, Issue No. 24.

Description: International Accounting Standards (IAS): On Top of Insurers’ Minds, Comments from the Chair, Letter from the Editor: Call for Articles, Asset Adequacy Analysis, Practical Considerations for Implementing the New Statement of Position for Long Duration Contracts and Separate Accounts.

Description: Discussion of asset adequacy analysis: various ways to comply with requirements

Description: This session at the SOA 2003 Washington, DC Spring Meeting addresses how to objectively measure a portfolio manager's investment performance, evaluate relevancy of market indices as performance benchmarks for insurance liabilities, and successfully benchmark performance against insurance liabilities.

Description: This article reviews the database program, MS Access, as a solution to actuaries in small companies to access information themselves rather than relying on information system personnel. The article describes how to set up the process and also uses of the information.

Description: Full version of Small Talk Newsletter, December 2000, Issue No. 16.

Description: Interest sensitive products including SPDAs can be thought of as spread lending business. The purpose of the paper is to introduce the excess spread approach to measuring the profitability of nonparticipating insurance products. The article describes how the excess spread approach is used to price and manage the products and its risks. From Society of Actuaries Reporting Monograph, M-AS99-1.

Description: In this session 100OF of the New York Annual Meeting panelists discuss the major consequences and potential effects of the current economic environment, including the choices of assumption that actuaries should consider in performing cash-flow testing. From the Record of the Society of Actuaries, Vol. 24, No. 3.

Description: In session 60D of the Montreal Spring Meeting panelists discuss the pros and cons of asset segmentation, as well recent trends. From the Record of the Society of Actuaries, Vol. 23, No. 2.

Description: Valuation Actuary Symposium This is a session on cash flow testing issues in small companies.

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: This paper presents a theoretical framework for moving from book value accounting toward market value accounting. From Actuarial Research Clearing House 1993. VOL. 1.

Description: Research paper presenting the potential role of Dynamic Solvency Testing, DST, in preventing the insolvency of insurance companies. This study examines major causes of failure for a small group of companies and evaluates whether and how DST would have helped.

Description: This paper introduces the symbolic valuation, a stochastic valuation which allows flexible interest rate and cash flow assumptions, and provides an illustration which values a simple SPDA product. From Actuarial Research Clearing House 1992, Vol. 1.

Description: The excess spread approach introduced in this paper addresses the true economic profitability of investment oriented products by looking at the spread between the earnings rate on the assets and the rate required to be earned on the assets to satisfy the liabilities. For many products, an important part of the liability cost is the value of interest rate options embedded in the policies. The excess spread approach incorporates an option-pricing technique that is sufficiently flexible to handle different interest rate environments.

Description: This session discussion is about various asset related items that are needed to perform necessary projections. From Record of the Society of Actuaries Vol. 15, No. 2.