Description: Is Risk/Return a sound tool for decision-making? No. It is not consistent, not objective, distorts decision and degrades governance. Why? What shall we do then?

Description: Explains the more granular breakout of bond RBC factors proposed to the NAIC. Evaluates alternative asset allocation choices for insurers under the new rules.

Description: This article discusses the possibility of high inflation down the road. The high levels of debt incurred due to the COVID-19 pandemic will be difficult for many countries to support. Central bank activity is "standing in the gap" but this is not necessarily the optimal solution. Inflation can also become an issue due to contagion coming from less financially stable countries, resulting a crisis of confidence, driving up interest rates.