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: 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.

Description: This discussion looks at principles which should govern the determination of the respective proportions of earnings to be allocated to policyholders and stockholders, the level of contingency reserves and surplus which should be maintained, and looks at the extent to which the mandatory Security Valuation Reserve should affect the level of unassigned surplus.

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

Description: The author, noting the inadequacy of traditional ‘rules of thumb’ used for profit objectives, demonstrates that, assuming a stock life insurance company’s objective is to maximize its current value, the profit objective can be expressed as maximizing ‘the present value of book profits per unit of limiting constraint.’ Includes discussion and author’s review of discussion. From Transactions of Society of Actuaries 1983 Volume 35.