Description: The author, noting the inadequacy of traditional ‘rules of thumb’ used for profit objectives, demonstrates that, assuming a stock life insurance company’s objective is to maximize its current value, the profit objective can be expressed as maximizing ‘the present value of book profits per unit of limiting constraint.’ Includes discussion and author’s review of discussion. From Transactions of Society of Actuaries 1983 Volume 35.

Description: This paper begins with an investigation of the conceptual profit model known as Anderson's formula, then it compares Anderson's formula with two alternative profit formulas and discusses some applications and limitations of each method. A discussion of the paper follows. From Transactions of Society of Actuaries 1979, Vol. 31.

Description: An article in which the author encourages members to exercise their right to vote and vote, especially given that steps have begun to expand the actuarial profession and its role in society.

Description: The author proposes the concept of a risk-free equivalent rate of return on shareholders' equity, or ‘REROSHE,’ as a means of helping business managers make decisions involving risk. The author defines REROSHE as ‘that certain return on an investment of u that will generate the same expected value of utility as will earnings on a line of business supported by surplus u.’ Includes discussion and author’s review of discussion. From Transactions of Society of Actuaries 1983 Volume 35.

Description: I read with interest the article by Sheri Lynn Levine in the November 1988 issue of The Fibonacci Quarterly on ‘Suppose More Rabbits Are Born.’ Levine,like Fibonacci, assumes that rabbits never die and made additional assumptions regarding rates of reproduction.

Description: This presentation was made at the SOA 1975 New York Spring Meeting. It discussed new individual product developments designed to meet the conditions in today's market. This would include underwriting, administrative, and technical problems on such new products as life cycle policies, low cost life, index-linked policies, or policies with special cash values 1975 Record, Vol.1, No.2

Description: In this paper the author develops techniques for measuring GAAP return on total capital by line of business, where total capital includes “benchmark surplus,” the amount of statutory surplus set aside, in addition to reserves, to support in-force business. The author also shows how GAAP returns relate to the internal rate of return the actuary may have calculated to describe expected profitability on a statutory basis. Includes discussion and author’s review of discussion. From Transactions of Society of Actuaries 1982 Volume 34.