Description: The secretary of the SOA looks back over the last five years at changes in the life insurance business and the actuarial profession.

Description: One of the most fundamental concepts in actuarial practice is the time value of money. For any work in which future cash flows are allowed for, such as reserving or pricing, it is natural to discount to present values so that an appropriate amount of money can be set aside today, allowing for future investment returns. This article discusses yield curve extrapolation methods along with the benefits and drawbacks of these methods.

Description: Part I of a four-part series on insurance product regulations around the world. Provides a good high-level summary of the regulations as of 2002.

Description: Provides an overview of India's insurance market and the important role of the actuary.

Description: This article presents the idea that a New Product Notebook, which contains all of the aspects of a product's development and is accessible to all involved, can make the product development process more efficient.

Description: The Actuary Vol. 22, No. 7. This article discusses the activities and goals of the Product Development Section of the SOA. Future activities will include joint sessions with other sections since product development issues sometimes relate to financial reporting. reinsurance, investments and nontraditional marketing.

Description: The author's comments on the future outlook for actuaries and the insurance industry. He poses many thought provoking questions about the future.

Description: This article is a detailed historical chronicle circa 1870 of a dispute concerning dividend distribution that was to draw into the fray university professors, a future justice of the Supreme Court, the Massachusetts insurance commissioner, and the daily press.