Description: This session discussion is about investment policy and how it relates to the long term goals for the investment returns as told in the context of an Indian Tribe's desire to invest compensation received for past wrongs by the US government. From Record of the Society of Actuaries Vol. 15, No. 3B.

Description: This session at the SOA 1990 Annual Meeting looks at global investing. Areas discussed include rationale for investing globally, fixed income opportunities, a model for active global investing, and other issues.

Description: 1993 SOA Spring Meeting, Boston. This session is about trends in life company impairments and insolvencies. Topics included: 1. Recent insolvencies - are there similar situations waiting to be discovered? 2. How meaningful are current financial statements? 3. What do rating agencies say? How much confidence is there in their ratings? 4. The role of cash-flow testing, AVR/IMR, and risk-based capital formulas.

Description: This session from the 1995 SOA New York Meeting covers securitization of insurance liabilities. Securitization of insurance risk is an alternative risk transfer other than reinsurance based on the idea that investors participate directly in the insurance risk. From the Record of the Society of Actuaries, Vol. 21, No. 2.

Description: This session from the 1995 SOA Boston Meeting covers the dollars-at-risk, or value at risk, system for risk management in the banking industry and the applicability of this system in the insurance industry. It also covers a practical example of using dollars-at-risk at an insurance company. From the Record of the Society of Actuaries, Vol. 21, No. 4b.

Description: 1994 SOA Spring Meeting, Orlando. This panel described the less obvious financial exposures and qualitative issues affecting an insurance company's financial strength. In addition, panelists discussed risk-based capital as a means of solvency assessment.

Description: Investment risk management has become a core competency of insurance companies, and much has been discussed on this topic. This session examines the current investment risk management practices such as product line specific hedging and macro hedging, with a focus on what still remains to be addressed—whether the tradeoff of addition risk management is worthwhile.

Description: This paper proposes a combinatoric approach to express higher moments of the quadratic variation process in terms of higher order variations of the original process and autocorrelations of the original process.

Description: 1993 SOA Spring Meeting, Boston. This presenters in this session discussed the impact of lower interest rates. In 1993 the Moody's Aaa Corporate Yield were near 8%. Questions raised: • Are lower interest rates here to stay? • What are the product development implications? • What are the market share implications? • Are we recognizing the disintermediation risk?

Description: This session from the 1995 SOA New York City Meeting covers an overview of the market for acquiring blocks of business, the legal, regulatory and valuation issues involved, acquiring a block through assumption reinsurance or novation, and tax and legal considerations in the acquisition process. From the Record of the Society of Actuaries, Vol. 21, No. 2.