Description: High level overview of JRMS research activity.

Description: This brief article details my observations as a senior consultant for a leading actuarial consultancy across the Middle East and South Asia regarding ORSA. It highlights key challenges, potential solutions and describes the dichotomy of management and consultant paradigm.

Description: The article explores options for defined-benefit retirement plan sponsors to transfer pension risk, focusing on recent trends in the United Kingdom.

Description: An exploration of Canada’s federal regulator of financial institutions (OSFI) and its more formal assessment of the actuarial function of insurers.

Description: To deal with future correlation crises, the author suggests the implementation of ‘’quanlitative analysts’’ (‘Quanls’) in the enterprise risk management (ERM) process: risk managers who are able to lead interdisciplinary ERM studies from a jointly qualitative and quantitative point of view, with an emphasis on dynamics.

Description: The article outlines a shareholder value framework for pension risk management and applies this framework to pension funding decisions in light of rising PBGC premiums due to 2013’s BBA legislation. The article finds that the new legislation significantly incentivizes plan sponsors to increase pension funding. Moreover, many tax-paying pension plan sponsors can increase shareholder value by increasing pension plan contributions.

Description: Obsolescence of physical assets and processes is a major component of operational risk for some companies. A simulation experiment shows that managers, who consider the retirement and replacement of individual assets in isolation, have rational incentives, due to risk aversion and uncertainty, to defer the replacement of assets past a time that is optimal from the perspective of the shareholder who owns the entire portfolio of such assets. This results in measurable wealth destruction, —and a demonstrable opportunity to significantly enhance a company’s value. A practical decision model for the replacement timing of fixed, physical assets, which creates wealth by minimizing the long-term consumption of scarce resources, is provided.

Description: The article explores the possibility of using the emerging technology for life insurers to build a monitor system for better risk and profitability management.

Description: The letter from the editor discusses some recent loss events driven by model error and provides an overview of the articles in this issue of Risk Management.

Description: Based on interviews with C-level executives, this report offers insights on the role and actions of the global insurance industry in addressing climate change