Description: The article summarizes and comments on a recent IRS Chief Counsel Advice that addressed how the proration formula works for purposes of the separate account dividends received deduction in the context of a partnership structure. The article explains the historical background of the proration formula as it appeared in the 1959 Act and the differences between how the applies and affects the dividends received deduction in the partnership structure versus the more tradition RIC structure.

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: The article is based on a study of causes of insolvency and decisions made by management, regulators, and policyholders over the life cycle of the insolvency.

Description: While some people proclaim the imminent triumph of renewable energy, this article argues that fossil fuels will continue to be part of the energy mix.

Description: This article re-caps the Investment Actuary Symposium held on November 8-9, 2001 in Las Vegas, Nevada.

Description: Provides summary of qualitative factors in the current fiscal, economic and political environment that could lead to higher inflation.

Description: ERM and Investment strategies for healthcare companies

Description: Describes outlook for inflation, generally higher in the US and lower in Japan/Europe. Enumerates macroeconomic drivers of inflation, and comments on the pace of inflation-linked debt issuance globally.

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.