Description: This paper reviews the main methodological questions underlying the theoretical pricing of catastrophe insurance futures. From Securitization of Insurance Risk: The 1995 Bowles Symposium, M-FI978-1.

Description: This session from the 1995 SOA New York City Meeting covers an overview of the market for acquiring blocks of business, the legal, regulatory and valuation issues involved, acquiring a block through assumption reinsurance or novation, and tax and legal considerations in the acquisition process. From the Record of the Society of Actuaries, Vol. 21, No. 2.

Description: The theme of this presentation relates to solving portfolio selection problems using linear and fractional programming. Two key contributions: 1. Generalization of the CVaR linear optimization framework. 2. Equivalences among four formulations of Coherent Distortion Risk Mearures optimization problems. From Actuarial Research Clearing House, 2012, Vol. 1.

Description: New tools for managing insurance risk have particularly emerged in the 1980s and 1990s, usually with roots in the financial markets. A strong motivating factor has been the record number of natural catastrophes and their impact in insured losses. New organization or joint ventures have been created to meet this demand. From Securitization of Insurance Risk: The 1995 Bowles Symposium, M-FI97-1.

Description: The concept of crosshedging gives us the key to the actuarial understanding of most new tools arising in the area of alternative risk transfer mechanisms. Securitization of insurance, which is the theme of this symposium can, as I see it, almost always be seen as an exercise in crosshedging. The 1995 Bowles Symposium, M-FI97-1.

Description: There is no right price for a piece of insurance. There is simply the transacted market price, which is high enough to bring forth sellers and low enough to induce buyers. From Securitization of Insurance Risk: The 1995 Bowles Symposium, M-FI97-1.

Description: This paper presents best upper and lower bounds on the expected value of a reinsurance payment under the terms of a contract written on a random loss with known moments. Bounds on the expected exercise value of a financial option are considered also because the mathematical model used for valuing options is similar to that used in reinsurance net premium calculations. From the Actuarial Research Clearing House ARCH 1990 Vol. 1.

Description: By establishing insurance risk as an asset class, participants will provide the insurance industry with vast pools of capital to mitigate catastrophic risk through the use of new nontraditional reinsurance products. From Securitization of Insurance Risk: The 1995 Bowles Symposium, M-FI97-1.

Description: Catastrophic insurance futures are being traded, albeit thinly, at the Chicago Board of Trade. This paper examines the broad context for trading insurance risk. The motivation for trading insurance risks, specifically to increase the capacity to cover risk, is discussed. From Securitization of Insurance Risk: The 1995 Bowles Symposium, M-FI97-1.

Description: The panel discussed US federal income taxes, addressing parts of the tax equity and fiscal responsibility Act of 1982- TEFRA- related to life insurance company taxes and policy owner aspects that are involved. Discussion of the repeal of existing tax law provisions relating to certain reinsurance transactions is also discussed