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: 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: This paper develops and presents a complete set of select mortality rates, for all issue ages, derived from the rates generally for five-year issue age groupings presented in the 1982 Reports for the 1975-80 Basic Tables. From Transactions of Society of Actuaries 1986, Vol. 38.

Description: This paper describes the legal setting within which an actuary may find oneself when serving as a consultant or expert witness in a contested legal proceeding in the United States. Its purpose is to provide the actuary with what he or she should know to be an effective professional witness. From Transactions of Society of Actuaries 1983, Vol. 35.

Description: This is a discussion about recruiting professional people, and what can be done to reduce the high rate of turnover among professionals, especially during the first few years of employment. From Transactions of Society of Actuaries 1969, Vol. 21 Pt. 2, No 59.

Description: Traditional methods of addressing reserves and liabilities have failed to cope with the problems of escalating claim costs, frequent rate increases, and different opinions as to what liabilities should be recognized. This paper reexamines these issues, discusses shortcomings of current methods and proposes a new approach to the total subject. From Transactions of Society of Actuaries 1985, Vol. 37.

Description: This paper develops a new method of determining long-range interest rate assumptions. Followed by discussion papers submitted by 2 authors

Description: This discussion at the 1967 Annual Meeting is about issues facing new companies including the areas of marketing, personnel, capital and surplus, financial projections, and communications.

Description: Traditional discounting is hazardous to corporate health unless, as this paper demonstrates, it is turned on its head and insurance managers adopt the methods of prudent bankers. From Transactions of Society of Actuaries 1987, Vol. 39.

Description: This paper attempts to reduce several variables to their bare minimum and to investigate how the cost of vesting depends upon those few that remain. From Transactions of Society of Actuaries 1972, Vol. 24, Pt. 1, No. 70.