Description: Discussion of three papers presented at Living to 100 and Beyond symposium. Papers discussed: ' The Roles of Aging, Longevity Determination and Pathology on Human Life Span and Life Expectation' by Hayflick, 'Plastic Omega' by Held, and 'Underlying and Multiple Cause Mortality at Advanced Ages: United State 1980 - 1998' by Stallard. The first paper is an overview on aging, the second paper is a survey of aging research and the third paper discusses underlying and multiple cause mortality.

Description: This paper examines demographic characteristics of people over the age of 100 in Spain and how this has changed over time.

Description: This paper gives two explicit formulae that estimate the yield of a portfolio of fixed income securities that are not interest-sensitive. The yield is explicitly estimated in terms of the discounting interest rates of the securities that comprise the portfolio. From 2006 Enterprise Risk Management Symposium, M-AS06-1.

Description: The goal for an insurance firm is to maximize value. This paper describes the approach using an objective function of the Option Adjusted Value of Distributable Earnings OAVDE. The paper provides a review of the evolution of accounting treatment suggests a methodology for estimating market value of assets and liabilities extends that market value to the value of the firm using OAVDE and illustrates how this methodology can be incorporated into an insurance firm's financial management. From Society of Actuaries Financial Reporting Monograph, M-AS99-1.

Description: In this paper, a general multivariate duration analysis is introduced that does not depend on a mathematical formulation of the way in which a yield curve moves. To motivate the multivariate approach, simple examples are presented that demonstrate the limitations of the traditional model when yield curve shifts are not parallel.

Description: Actuaries measure, model, and manage risks. Risk associated with the investment function is a major uncertainty faced by many insurance companies. Actuaries should have knowledge of the asset side of the balance sheet of an insurance company and how it relates to the liability side. From Securitization of Insurance Risk: The 1995 Bowles Symposium, M-FI97-1.

Description: Symposium session on Emerging Definitions of Retirement.

Description: This paper uses accounting data of the life insurance industry in 2003 to examine the empirical relationship between the spectrum of enterprise risks and the spectrum of enterprise risk management tools of this industry.

Description: This paper discusses some of the models used to quantify risk, note some areas where improvements in standard methods are needed, and in some cases suggest alternative approaches for risks in Property and Casualty Insurance and Life Insurance.

Description: Part 3 proposes solutions to the third of three flaws of the current financial model to obtaining the fair value of the public sector employer’s pension benefit liability.