Description: U.S. bond markets have undergone dramatic changes due to the 2008 Global Financial Crisis (GFC) and the COVID-19 pandemic. In taking a retrospective view, we can see that bond markets, viewed through the lens of major bond indices, have been evolving for quite some time. Within this paper, TD Asset Management Inc. (TDAM) will explore underlying changes that have occurred within the U.S. Corporate Bond Index, a sub-component of the larger U.S. investment grade bond market, over the past decade. We will highlight key structural changes that have occurred within bond markets and why they are noteworthy

Description: Feature article discussing the newly developed Build America Bonds BABs.

Description: Discusses the drawbacks of using adjusted book value instead of market value for the valuation of common stocks in a non-insured pension plan.

Description: During March 2020, COVID-19 concerns escalated in the U.S. and lockdown measures were announced. Market returns in March 2020 were quite extreme and choppy, alternating between days of huge gains and losses. As investors prepare for the future, it is important to understand whether these volatility surges and sharp movements are understood and captured by commonly used models. In this article, we will explore equity market performance in 2020 using the S&P 500 Total Return Index (SP500TR) and the relevant equity modeling implications

Description: The author explores and argues against the “evolution of thinking” and the position that actuarial thinking is a blend of all three modes of thinking, as discussed by Dave Ingram in the February/March 2012 issue of The Actuary.

Description: Frist Quarter 2022 updates on tax issues involving: IRS publication of 7702 60-month avg. applicable federal interest rates, OECD Global Minimum Tax, final Foreign Tax Credit regulations issued by Treasury and IRS, Final Regulations on Tax Issues Associated with LIBOR Transition issued by Treasury and IRS, and the Multistate Tax Commission Partnership Project focusing on insurer investment partnerships.

Description: The purpose of this paper is to examine a special case of option pricing theory in which the insurance company promises the customer to exercise the option for him. This paper presents a simple formula for valuing the option. From the Actuarial Research Clearing House 1991, Vol.1.

Description: Up until recent past, the artificial intelligence portion of data science was looked upon cautiously due to its history of booms and flops . In the latest stream of events, major improvements have taken place in this field and now deep learning, the new leading front for Artificial Intelligence, presents a promising prospect for overcoming problems of big data.

Description: The article provides a summary of the Drake Risk & Opportunity Forum held on October 21, 2022. The forum was a hybrid conference that attracted more than 200 attendees from 17 states, two countries, 48 employers, and five universities. Following an introduction by the Zimpleman College of Business Dean, the forum held six sessions. First was an insurance company CRO panel followed by a panel of non-insurance company CROs. Gary Zhu shared his outlook for interest rates and capital markets. The fourth panel discussed insurance capital models. The fifth panel discussed environmental, social, and governance (ESG) criteria when building insurance company investment portfolios. The final session of the day was a discussion about the NAIC, how they operate, and their priorities for the coming year.

Description: Crossword Puzzle