Description: The academy generator is widely applied in actuarial practice. Initially confined to regulatory reserving, companies are increasingly using the AAA/SOA generator over an ever widening range of applications testing the limits of the academy generator's intended function. The session will give a brief overview of the academy generator and the asset classes it can be used to model. It will also analyze the statistical properties of the academy scenarios and discuss the scenarios relative to standard validation criterion. Some of the challenges that actuaries face in using this framework will be reviewed and options for addressing these challenges will be offered.

Description: Presented at June 1986 Spring Meeting. This session discussion is about the National Association Of Insurance Commissioners' Early Warning System, A.M. Best Company ratios, Conning and Company solvency ratios, and California Department of Insurance Empirical ratios.

Description: The objective of this report is to provide benchmarking information that will help companies address the needs of internal stakeholders in cost-effectively conducting and implementing an ORSA process. In order to obtain this benchmarking information, a cross-disciplinary survey was conducted to find out what insurance companies understand and expect from an ORSA, the effort required to complete an ORSA, and the benefits from doing so. This survey was undertaken on a global basis, with participants that included life, property and casualty (P&C), often referred to as "non-life" or "general" insurers in territories such as Europe, and health insurance companies in North America (the United States and Canada), Europe, and Asia.

Description: From a session at the Spring meeting of the Society of Actuaries held in San Antonio, Texas, June 14-15, 2004 Discussion of risk and pricing issues of particular concern with respect to life insurance and annuity products in times of relatively low interest rates

Description: This presentation is an open forum, session number 8OF, from the 1999 Valuation Actuary Symposium, held September 23-24 in Los Angeles. The panelists explore risk quantification from multiple perspectives, including: value-at-risk techniques and their application in the financial services industry, internal risk-based surplus formulas, and an NAIC Risk-Based Capital [RBC] Update. They discuss the application of existing and emerging risk evaluation techniques to one’s company or client circumstances. Discussion from participants is included.

Description: Forming a view on what the tail looks like for various risk factors involves both technical know-how and considerable judgment. The presenters focus on what needs to be addressed when setting financial market risk and insurance risk assumptions, in particular when assessing the question of diversification and the treatment of tail dependencies between risks and lines of business:

Description: Presented at October 1985 Annual Meeting. Discusses risk measurement and quantification, cash-flow-based surplus, factors that affect benchmark surplus, how multiple risks can be combined for benchmark surplus, benchmark surplus and the valuation actuary, and uses of benchmark surplus formulas.

Description: While intended to assist health plan actuaries responsible for stress testing and ORSA filings, this session will also be informative for actuaries interested in communicating the impact of potential catastrophic events for health plans to their management and board. It will begin with a discussion of event thresholds for stress tests and their impact on capital and financial statements. Presenters will take a detailed look at several catastrophic event case studies (historical and hypothetical) in the following areas: healthcare specific (e.g. pandemic, specialty Rx), financial institution/credit market, operational/business, strategic and multi-event scenarios.</

Description: From a session at the Spring regional meeting of the Society of Actuaries held in Atlanta, Georgia, May 24-25, 1999 Panelists discussed a comprehensive risk management approach to quantify the risk exposure from various sources.

Description: This presentation develops an integrated approach that addresses simultaneously guaranteed annuity option (GAO)’s pricing and capital requirement calculation.