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: Using the Cox proportional Hazards Model to improve underwriting debits and credits.