Description: We employ a framework for the classification of mortality evolution patterns to HMD data. We find both supra-regional patterns and outliers from global trends.

Description: In this paper, we derive three important longevity Greeks on the basis of an extended version of the Lee-Carter model that incorporates stochastic volatility.

Description: Title/Copyright page - Society of Actuaries 50th Anniversary Monograph, M-AV99-1.

Description: This paper is the introduction to the Society of Actuaries 50th Anniversary Monograph, which contains significant papers published by SOA-sponsored research publications during the past fifty years. This introduction describes the selection process and provides a brief summary of each of the seven papers making up the monograph.

Description: Sponsors - 50th Anniversary Monograph

Description: This is the abstract to the paper, How the Current System Fails People With Chronic Illnesses by Reinhard Priester, Robert L. Kane, Annette M. Totten.

Description: Because of the expected dramatic rise in chronic disease prevalence due to aging and obesity, and increased cost per case due to new technology and drugs, there has been intense focus on managing the cost of treating chronic diseases. From Financing Chronic Care Monograph, M-HB05-1.

Description: Discussant comments for the 2009 Housing Wealth monograph paper, “The Houston Experience: FHA Originations During 1981-1984.”

Description: This paper looks at the actuarial implications of a gradual retirement scheme from the employer's point of view in terms of the normal cost and also from the employee's side, the total income he would receive under various gradual retirement scenarios.

Description: This paper defines Distributable Earnings as the generalized pricing and valuation framework for financial contracts containing the requirement to hold capital or reserves in support of the obligations. It examines the Market Value paradigm and its foundation arising from the pricing of fixed income securities. It reconciles these two methods, showing that market value methods ignore mandatory capital and reserve requirements, which carry both risk and cost. The paper makes the case for the Distributable Earnings framework, not Market Value, as the true basis for economic value for these financial contracts. Finally, it concludes that this framework must be employed in risk-management processes, else fail to recognize a significant source of risk.