Description: This session discussion is about the actuary should be aware of techniques that are available to compare the expected returns from many different types of investments. Understanding these techniques will assist the actuary in pricing many of today's insurance products as well as measuring their ongoing profitability. From Record of the Society of Actuaries Vol. 15, No. 2.

Description: This session discussion is about investment policy and how it relates to the long term goals for the investment returns as told in the context of an Indian Tribe's desire to invest compensation received for past wrongs by the US government. From Record of the Society of Actuaries Vol. 15, No. 3B.

Description: This session at the SOA 1990 Annual Meeting looks at global investing. Areas discussed include rationale for investing globally, fixed income opportunities, a model for active global investing, and other issues.

Description: This session from the 1984 SOA Salt Lake City Meeting is a teaching session on futures and options, the applications for them, the roles as a strategy tool and hedging risks. Record of the Society of Actuaries Vol. 10, No. 2.

Description: 1993 SOA Spring Meeting, Boston. This session is about trends in life company impairments and insolvencies. Topics included: 1. Recent insolvencies - are there similar situations waiting to be discovered? 2. How meaningful are current financial statements? 3. What do rating agencies say? How much confidence is there in their ratings? 4. The role of cash-flow testing, AVR/IMR, and risk-based capital formulas.

Description: This discussion at the 1968 Annual Meeting covers insurance company investment issues including measurement of investment performance and models for measuring perfomance.

Description: Many insurers preparing market consistent financial statements encounter the issue of developing volatility assumptions for equity options and guarantees that are longer than any observable market data. This presentation develops a generalization of the classical Black Scholes option pricing model that is consistent with the European CRO Forum's framework for valuing non-hedgeable risk. The presentation argues that, with reasonable parameter choices, the model fits observed volatility surfaces well enough that it can be used to estimate implied volatilities where no market data exists.

Description: This paper proposes a combinatoric approach to express higher moments of the quadratic variation process in terms of higher order variations of the original process and autocorrelations of the original process.

Description: This session from the 1984 SOA Salt Lake City Meeting discusses how investment policies and strategies for pension funds are often developed independently of liability considerations. This session looks at the probable mismatch of asset and liability cash flows, the extent of problem, the actuarial concern with certification of assets and structuring the fund to recognize the relationship between assets and liabilities.

Description: This session will demonstrate the advantages of approaches to duration matching and cash flow matching. Plan examples and sponsor’s objectives will be presented. An overview of when to choose one approach versus a blend of the two approaches will also be covered.