Description: This paper will consider aspects of inflation as it affects the operations of the life insurance industry and the policyholder, and will review some of the approaches used, primarily by European companies, to meet the situation. Discussions of this paper are included.

Description: This paper summarizes default experience on bonds from 1900 through 1987. Although the information is more extensive for publicly traded bonds, the paper includes some information on private placements, some of which is not otherwise available.