Description: The paper discussed the reasons for a stock company's mutualization detail the mutualization process itself consider actuarial, legal, and other problems that arise and review a recent case history.

Description: The excess spread approach introduced in this paper addresses the true economic profitability of investment oriented products by looking at the spread between the earnings rate on the assets and the rate required to be earned on the assets to satisfy the liabilities. For many products, an important part of the liability cost is the value of interest rate options embedded in the policies. The excess spread approach incorporates an option-pricing technique that is sufficiently flexible to handle different interest rate environments.

Description: In recent years, insurers have focused attention on the implementation of economic capital frameworks as part of risk management. Due to the diversity of products in an organization’s portfolio, its overall risk profile is comprised of different risk categories. The general framework used by an organization for economic capital purposes is to determine its exposure to each risk independently, then aggregate them to produce an overall risk profile. This is a study of aggregation techniques in use.

Description: Survey of appointed actuaries about asset adequacy testing techniques currently being used in 2012.

Description: This paper develops a new method of determining long-range interest rate assumptions. Followed by discussion papers submitted by 2 authors

Description: Excerpts from Yee's presentation on the S-Curve reserve for Universal life. The S-Curve represents a distribution of amount of assets needed under 550 scenarios which, together with future premiums, will fund all future policy benefits and expenses. The reserve is a specific point on the Curve.

Description: Provides a theoretical basis for determining an insurer's price-earnings ratio, discusses the effect on earnings of changes in investment income, and discusses the effect on surplus and earnings of changes in reserve basis.

Description: Presentation of some of the factors to be considered, and approaches which might be employed, in valuing a life insurance company.

Description: This paper describes a typical consumer credit transaction, shows how the rule of 78 works, identifies its degree of accuracy, and discusses issues raised by its use, including federal truth-in-lending implications. Followed by several discussion papers submitted

Description: This paper applies the duality theory of linear programming to provide insights for generalizing and solving the cash-flow matching problem.