Description: The article provides an update on the 2019 ERM Symposium with regard to date, location and content (General Sessions and Concurrent Sessions).

Description: Developments at the NAIC, IAIS, and Federal Reserve regarding life insurance regulation. PBR is not included.

Description: This paper focuses on the role of holism in enterprise risk management ERM. The performance measure known as market consistent embedded value is discounted for being overly reductionistic. The concept of an economic capital charge or credit is seen here as a potential bridge from the reductionistic to the holistic approach. It shows some promise for achieving holism, but falls short.

Description: Find out what roles reinsurance and reinsurance intermediaries play for ceding companies in need of capital and the providers of such capital.

Description: ongoing discussion of the proper interest rate to use in discounting liability cash flows to reflect credit risk of the insurer in a fair value accounting system

Description: Applications of Stress Testing

Description: The author constructed the efficient frontier of new business sales by modeling the embedded value and economic capital against a universe of possible growth rates of the three lines of business in a typical three-year planning horizon. The ERM function can use the efficient frontier of new business to provide a more rigorous analysis of the impact of growth rates on the firm’s overall capital efficiency and value creation, hence forming a feedback loop with the businesses in the planning process to optimize the growth strategy.

Description: Discussion of solvency problems and the actuary's role in addressing them in the life insurance industry.

Description: Finding appealing return on equity for low margin or high risk weighted asset business by dealers has been challenging. Because of this, trading assets have fallen substantially especially in rates and corporate trading books. Smaller books suggest challenged liquidity as balance sheets become less elastic.

Description: This paper discusses both the theoretical and the application aspects of stress testing in managing enterprise risks. Effective stress testing maximizes the risk adjusted enterprise profit by controlling major risks financial, strategic, operational and hazard upon identifying risk metrics and modeling the correlations. A case study is included for demonstration purposes.