Description: This paper takes the position that the U.K. actuarial profession has still not come to a single view on financial economics, and the major divisions that remain continue to hamstring its policy development. From Current Pension Actuarial Practice in Light of Financial Economics Symposium, M-RS04-1.

Description: Article is about community rating and risk adjustment including possible disadvantages for healthy experience-rated or self-insured groups.

Description: Discussion of solvency problems and the actuary's role in addressing them in the life insurance industry.

Description: Presented at May 2002 Spring Meeting. Discusses industry trends in agent compensation with the intent of retaining and attracting the better performing agents and aligning incentives with desired behaviors, while placing the insurer in an acceptable financial position.

Description: This material, Appendix I of the 1987 Valuation Actuary Handbook, is an appendix to Chapter II of the Handbook, ‘Methods of Analyzing cash Flows to Test for Reserve Adequacy.’ The author provides additional support in his appendix which discusses the theory behind MacAulay duration and provides illustrative examples.

Description: From a session at the 2000 Valuation Actuary Symposium held in Washington DC, September 14-15, 2000 Discussion of newer and more innovative investment structures and the modeling of these securities in cash-flowing testing and asset/liabilities management analysis.

Description: This is the fourth paper on n-year roll forward reserve financing of public benefit systems, especially Old-Age, Survivors and disability Insurance OASDI, prepared by University of Michigan faculty and students. As the papers have developed, some ideas have been simplified, while others have become more complex. It is concluded that the theoretical model requires further attention. This research can be extended to expand our knowledge of OASDI financing and the applicability of n-year roll forward reserve financing.

Description: These are the abstract, outline, graphs and tables of the paper “Conclusions from Michigan Studies of Social Security Financing”. By such studies we mean the papers prepared during the past five years by actuarial students and Cecil Nesbitt, and which have appeared in ARCH. The paper is in three parts: A lengthy Abstract, followed by 17 pages of text, graphs, tables and references. The third part is a 10 page Appendix which gives the proofs of text statements.

Description: The two-parameter Pareto distribution is a commonly used model in reliability and risk modeling. Minimum variance unbiased estimates of the parameters of Pareto distribution are not known. In this paper, we propose and investigate a method of estimation of the parameters of the Pareto distribution. This method is based on minimization of the Kolmogorov-Smirnov distance between the empirical cumulative distribution function [cdf] and the cdf of the Pareto distribution.

Description: What are the possible future implications to insurance companies of significant improvements in mortality? How can futurism techniques be used in research? The formation of the mortality improvement study group at the Principal Financial Group was the first step toward examining the issue of mortality improvement. In an interactive format, we will present what we learned about mortality and futurism techniques by participating in this group.