Description: This is an article that discusses the retreat of savings banks from mutuality. As we ponder the future of mutual life insurance, we should be aware of the change sweeping through the mutual savings bank industry.

Description: This article discusses the trend toward outsourcing of insurance assets to third party money managers which has grown steadily as insurers face increasing market challenges. Insurers are finding that a strategic approach to outsourcing investments is critical to enhancing value within both liability reserves and surplus portfolios.

Description: The article discusses indexed-linked securities in the United Kingdom and the relationship between the prices of index-linked securities and interest rates, common stock prices and a combination of these.

Description: This is a chart from the article Shouldering the Cost of Employee Stock Options which shows the values at each node.

Description: This article describes the Investment Year Method for allocation of general portfolio investment income and demonstrates the equivalence of a fixed index or declining index system.

Description: This article shows a comparison of the growth rates of the S&P 500 common stock index vs. the U.S. Consumer Price Index over various 5 and 10 year periods.

Description: This article reports on a meeting of the Finance Practice Area and the issues on which they are focusing.

Description: In this article, the author discusses the report on Insurance Holding Companies recently published by the New York Insurance Departmentconcerning surplus levels. The author questions whether a complicated mathematical approach using risk theory will produce a better result than traditional rules of thumb and experience.

Description: Feature article discussing the PBGC’s asset reallocation plan.

Description: At our Houston meeting PD l, Donald D. Hester, Professor of Economics at University of Wisconsin, outlined a novel investment system aimed at protecting purchasing power of the lender’s funds from inflation’s ravages. This article is summary of that presentation.