Description: This session from the 1992 Valuation Actuary Symposium focuses on Risk-Based Capital issues and the important points concerning A.M. Best's view of leverage and capital adequacy in the review process.

Description: The objective of this paper is to demonstrate that the long-term trends in the rate of company expansion affect policyholder costs and estimate the amount of the impact. Followed by several discussion papers submitted

Description: This panel discussed studies of the risk of loss due to changes in the interest rate environment. It addressed why the C-3 risk is important and how inflation and stability in interest rates can affect the financial soundness of life insurance companies. There was also a discussion of the theoretical work being carried out to calibrate the C-3 risk of variation in interest rates and to what extent the valuation actuary can properly recognize the risk of loss from changes in the interest rate environment within the framework of valuations laws and regulations.

Description: Discussion of solvency problems and the actuary's role in addressing them in the life insurance industry.

Description: This discussion looks at principles which should govern the determination of the respective proportions of earnings to be allocated to policyholders and stockholders, the level of contingency reserves and surplus which should be maintained, and looks at the extent to which the mandatory Security Valuation Reserve should affect the level of unassigned surplus.

Description: A discussion of life insurance securitizations and how they can be structured to provide surplus relief associated with onerous reserve requirements.