Description: The author proposes the concept of a risk-free equivalent rate of return on shareholders' equity, or ‘REROSHE,’ as a means of helping business managers make decisions involving risk. The author defines REROSHE as ‘that certain return on an investment of u that will generate the same expected value of utility as will earnings on a line of business supported by surplus u.’ Includes discussion and author’s review of discussion. From Transactions of Society of Actuaries 1983 Volume 35.

Description: Traditional discounting is hazardous to corporate health unless, as this paper demonstrates, it is turned on its head and insurance managers adopt the methods of prudent bankers. From Transactions of Society of Actuaries 1987, Vol. 39.

Description: This paper deals primarily with the actuarial aspects of a life insurance product providing complete flexibility in the pattern of premium payments- and benefits. This paper presented a framework around which a policy of the life-cycle family can be built. Discussion includes description of how the product might work, given the legal and operational constraints at the time. Also discussion of how compliance with the Standard Valuation Law and Standard Non forfeiture laws would be achieved. Followed by submitted discussions of the paper by various people

Description: An extension of a paper published in the 1952 Transactions by the same author, describing and classifying various funding methods for defined benefit pension plans. Followed by discussion papers submitted by several authors.

Description: This session at the SOA 1962 Jacksonville and Chicago Regional Meetings focuses on the sales results for pension trust and profit sharing plans. Also, the shift from Industrial to Ordinary sales and resultant mortality is discussed.

Description: This paper discusses the determination of term insurance reserves in the United States for individual life insurance policies. A valuation method that appears to produce better results than the net level premium reserve or the CRVM is the changing premium valuation method CPVM. From Transactions of Society of Actuaries 1978, Vol. 30.

Description: This paper discusses three methods for the amortization of deferred acquisition expenses, DAC and the results when actual experience differs significantly from that assumed. The methods include a static approach with prescheduled amortization, a dynamic technique called the expense reserve factor method, and an aggregate or accumulated premium revenue method. A discussion follows the paper. From Transactions of Society of Actuaries 1978, Vol. 30.

Description: This paper begins with an investigation of the conceptual profit model known as Anderson's formula, then it compares Anderson's formula with two alternative profit formulas and discusses some applications and limitations of each method. A discussion of the paper follows. From Transactions of Society of Actuaries 1979, Vol. 31.

Description: This paper will use a sample example to examine the relationship between the pricing objective of ROI and the corporate profit measure of ROE. From Transactions of Society of Actuaries 1987, Vol. 39.

Description: In this paper the author develops techniques for measuring GAAP return on total capital by line of business, where total capital includes “benchmark surplus,” the amount of statutory surplus set aside, in addition to reserves, to support in-force business. The author also shows how GAAP returns relate to the internal rate of return the actuary may have calculated to describe expected profitability on a statutory basis. Includes discussion and author’s review of discussion. From Transactions of Society of Actuaries 1982 Volume 34.