Description: This paper provides a summary of the report, Back Testing of Investment Performance by Asset Class.

Description: Is Risk/Return a sound tool for decision-making? No. It is not consistent, not objective, distorts decision and degrades governance. Why? What shall we do then?

Description: Discussion of Asset Adequacy Analysis for one company's Long Term Care Product. Includes a discussion of the need for better asset/liability risk management for this company and how asset adequacy analysis can lead to the development of new investment strategies for the Company.

Description: Digests of following discussions: 1. Mutual life insurance companies - their objectives and operating philosophy 2. State, provincial, and municipal employee pension plans - financing and other problems 3. Mortality and underwriting of individual policies for large amounts 4. Investing during the 1970's 5. Long-range viability and regulation of corporate pension plans 6. Forecasting the environment for business 7. Liabilities and surplus in the 1970's 8. Changing modes of family life - work and income over the life cycle 9. The role of the actuary in collective bargaining 10. Health insurance in the United States 11. Adjusted earnings

Description: An overview of the articles in the August 2012 issue of Risk Management and a list of winners of the most recent call for papers, “Risk Metrics for Decision Making and ORSA.”

Description: Insurance companies are not immune to liquidity risks.

Description: Much of the push for ERM has come from regulators and rating agencies, but it is being applied in internal company decision-making as well. This paper reviews the progress made and the needs still outstanding in two key areas of application: optimal capital level for an insurer and risk-adjusted profitability of business units. The basic conclusion is that progress has been made in these areas, but more is needed. Building models is not emphasized—it will be assumed that a state-of-the art model is available. The emphasis is on using such models in decision-making.

Description: The purpose of the article is to highlight how a person or organization can excel in both a highly-competitive expert-driven environment and one where the environment is less so. One should focus on what can be done well and delegate the remaining tasks to those who are better at performing them. One should understand the environment they are operating in, how it impacts them, and how it may change through time. The principles have application to investment management, investment performance, organizational performance, business development, career progression and economics.

Description: Article discusses possible effects of negative interest rates on product development, risk management, investment management and in-force management.

Description: ICP 16 and its requirement for an Own Risk and Solvency Assessment (ORSA) will offer opportunities for the actuarial profession to provide uniquely well-educated and professional assistance to this process.