Description: Attempts to Quantify Potential Impact of Pandemic Influenza on the U.S. Life Insurance Industry

Description: Exploration of sources of volatility in retiree health valuations, noting how volatility arises and might be mitigated, with discussion of valuation parameters more problematic for retiree health benefits than for pensions. Three significant influences on retiree health valuation volatility are covered-- changes in benefit level, fluctuations in cost level, and alterations in eligibility for, or duration of, benefit – and attention focused on the last two. Specific conclusions result in recommendations, which are supported by practical examples contrasting volatile measurement results with those likely from the recommended practices. Theoretical discussion includes health claim variation, health trend usage, financial economics, option pricing, discount rates, and deterministic vs. stochastic modeling.

Description: This paper uses economic principles to analyze alternative recognition schemes for end-of-period retirement plan liabilities the candidates, using U.S. nomenclature, are the vested benefit obligation VBO, the accumulated benefit obligation ABO and the projected benefit obligation PBO.

Description: A summary of a scientific paper written to address the differences and similarities between the option pricing method now more commonly known as fair valuation and the actuarial appraisal method.

Description: This paper introduces basic embedded value EV principles, concepts and formulas that will be especially valuable to the beginning students of EV.

Description: This paper provides a novel approach to the valuation of the market value of economic surplus that is stable and immune from “market noise”.

Description: Presentation of some of the factors to be considered, and approaches which might be employed, in valuing a life insurance company.

Description: The author discusses how sustainable enterprise risk management (SERM) is valuable for insurance companies and how actuaries can contribute to its development.

Description: The valuation of illiquid assets is a vast topic, which is very much in a state of development. Based on comments made by investment professionals during the preparation of the proposal, this is a very challenging area of research. Generally, the investment industry will look with great interest on the outcome of this research. The research proposal was restricted in two ways. The literature review was focussed on the valuation of private placement debt PPD and real estate. The case study was limited to analyzing valuation methods with respect to PPD. Sponsored by CAS, CIA, SOA Joint Risk Management Section.

Description: it discusses the framework and modeling of the market consistent valuation of fixed indexed annuity, against the backdrop of the convergence of accounting standards and internal risk management.