Description: GDP growth has slowed as numerous headwinds have emerged. This article summarizes a research paper by Mark Alberts and Max Rudolph that addresses reasons why this is so and how risk managers can address using scenarios.

Description: Gross Domestic Product (GDP) has been our chosen metric for growth since the Great Depression, but expectations are for lower GDP growth going forward than we are accustomed to. Its two components, population and productivity, face headwinds—population from a declining birth rate and longevity, and productivity from increased climate events, energy costs, global conflict and raw materials shortages. Comparing demographic results from the U.S., China and Nigeria, representing countries with varying population growth rates, illustrates the potential economic growth issues of aging populations and high dependency ratios. The demographic challenges can be turned into opportunities to broaden prosperity; productivity can be improved by providing a level playing field and helping those in the lowest socioeconomic classes find opportunities. These topics and more will be discussed and enhance foresight about them.

Description: This research report on the effect of deflation or high inflation has six sections: 1. The first section provides background on inflation, describes some problems in measuring inflation, and explains some of its effects on an economy. 2. The second section reviews historical inflation rates. 3. The third section examines the effect of inflation or deflation on the property-liability and life insurance industries. 4. The fourth section proposes risk mitigation strategies for insurers to cope with either deflation or high inflation rates. 5. The fifth section describes a publicly available model that can be used to develop inflation/deflation projections under a regime switching format that can readily be adjusted to reflect current financial uncertainty. 6. The sixth section provides conclusions.

Description: This presentation is a panel discussion from the 1991 Annual Meeting of the Society of Actuaries, held October 20-23 in Toronto. The panelists discuss the outlook for the economy for the remainder of the year through 1992, covering the economies of both the United States and Canada, with an emphasis on the United States. With the background of recent world events, they discuss the recent recession and where interest rates are headed, unemployment rates, inflation, and other economic indicators. Discussion from participants is included. From the Record of Society of Actuaries, Volume 17, No. 4A.

Description: Microinsurance mechanisms provide coverage to low income earners, but a growing middle class is often lacking adequate access to insurance services. The author explores ways in which insurance may be more accessible.

Description: To explore the main drivers of the growing force of Chinese Life Insurance Industry.