Description: A critical step in valuing a company for the purpose of financial reporting is the computation of the market value of economic surplus (MVES). This article provides a novel approach to the valuation of MVES that is stable and reasonably immune to “market noise.” Current approaches to the calculation of economic surplus of an insurance company generally define such surplus as the market value of the assets (MVA) supporting the liabilities less the market value of liabilities (MVL). While MVA is observable in the market, MVL is typically computed directly, without regard to the underlying supporting assets. Subtracting MVL from any value of assets that changes with market movements results in an unstable surplus. Consequently, a surplus that is not fully reflective of market sentiment has been rejected by many. This same approach is further used in the calculation of market consistent embedded value (MCEV) when a balance sheet approach is used .

Description: This article discusses the attributes of a unified Operational Risk Management framework and how those attributes can underpin a seven-factor economic capital model.

Description: The article offers a more nuanced approach to caregiving as the population ages, suggesting our current focus on planning leaves out most people. Instead find solutions for non-planners!

Description: This article highlights 13 attributes shared by various groups of companies that landed in trouble. The companies are identified, and the attributes are described.

Description: Research report describing the results of an Emerging Risks Survey conducted in 2010. This survey attempts to track the thoughts of risk managers about emerging risks across time. The new top five are: 1. Fall in value of US Dollar. 2. International terrorism. 3. Chinese economic hard landing. 4. Oil price shock. 5. Failed and failing states.

Description: A review of changes in the last two years with respect to investing, geopolitical risks and the markets.

Description: To discuss the principles to be followed in the determination of dividend distribution scheme, how to ensure the fairness and sustainability of dividend distribution, and the specific issues to be considered in the practice of dividend distribution.

Description: This article discusses the impact of rising interest rates on annuity writers and life insurers and the risk management challenges it presents. Falling interest rates were addressed as well.

Description: Highlights from the 8th Intercompany Long-Term Care Insurance Conference held in March 2008, consisting of 56 sessions covering a range of long-term care insurance LTCI topics each with a track-specific focus.

Description: Research report describing the results of an Emerging Risks Survey conducted in November 2008. Emerging risks can be thought of from two perspectives: completely new risks that have never been seen before, and risks that are evolving in unexpected ways.