Description: Presented at May 2002 Spring Meeting. Discusses basic considerations and the process of an international acquisition or merger.

Description: The external actuary must balance the goals of the company with a realistic assessment of the chances of achieving them, uncovering hidden value while scaling back on aggressive targets to achieve a balanced, defensible end product with buy-in from the seller's team. From Actuarial Considerations in Insurance Mergers and Acquisitions, M-FI03-1.

Description: One-page overview of monograph contents. From Actuarial Considerations in Insurance Mergers and Acquisitions, M-FI03-1.

Description: Role of the Actuary: One of the most complicated tasks an actuary can perform is large-scale corporate modeling in an attempt to shed light on the relationship between value, performance and risk. In specialized situations such as mergers and acquisitions, it may be appropriate to have external actuaries perform the work rather than attempt the task with internal resources. From Actuarial Considerations in Insurance Mergers and Acquisitions, M-FI03-1.

Description: Bibliography. From Actuarial Considerations in Insurance Mergers and Acquisitions, M-FI03-01.

Description: Complete monograph: Actuarial Consideration in Insurance Mergers and Acquisitions, M-FI03-1. This paper presents a broad overview of the actuarial considerations of insurance company transactions in developing countries, identifying both theoretical and practical issues that need to be addressed when trying to assess the potential value of a multi-national insurance transaction.

Description: Introduction to Actuarial Considerations in Insurance Mergers and Acquisitions, M-FI03-1.

Description: The sale process is a team effort. On the sell side, the team usually consists of the seller, their investment banker, the external actuaries and a legal team. On the buy side, the team consists of accounting and tax experts in addition to the previous disciplines. For a sale to be successful, the team on each side must be able to communicate the story of the company in a consistent, focused manner to their publics. From Actuarial Considerations in Insurance Mergers and Acquisitions, M-FI03-1.

Description: Title Page/Copyright. From Actuarial Considerations in Insurance Mergers and Acquisitions, M-FI03-1.

Description: In developing the economic assumptions for use in an appraisal, a team approach must be used. The investment bankers, external actuaries, and the company's financial area research current and historic economic conditions to develop an internally consistent base scenario. To be successful all parties must be comfortable with this scenario and its implications on production, investment yields, and, ultimately, distributable earnings. From Actuarial Considerations in Insurance Mergers and Acquisitions, M-FI03-1.