Description: The Society of Actuaries (SOA) and the LIMRA Secure Retirement Institute are pleased to present the results of new research on the retirement market in China.

Description: The Human Mortality Database is a unique collection of detailed mortality and population data with complete and reliable vital registration and census data.

Description: Increasing uncertainties and volatility in financial as well as real goods markets increasingly reveal that controlling systems based on deterministic and pseudo-exact values are insufficiently eligible to manage the business activities. This raises the question how management systems can be modified to generate the adequate management impulses in volatile periods. Risk management deals from identifying, evaluating and aggregating chances and risks, which again determine the potential fluctuation range of relevant performance indicators. Everyday corporate life shows that risk management is considered important; but the corresponding processes to identify, evaluate and report chances and risks are seldom part of established decision criteria. This “paradox” lets assume that risks are managed in various differing and unsystematic ways. The combination of traditional controlling methods and risk management is not primarily a methodological challenge. The behavior of the whole organization, practiced over a long-year period, has to be transferred into a new corporate culture of transparent dealing with chances and risks. This paper describes the necessary change management process, which has to come along with necessary methodological modifications.

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: Individuals in retirement should pay all general living expenses from predictable income, and then all other expenses from the liquidation of the endowment.

Description: Discussant comments for the 2009 Housing Wealth monograph paper, “The Financial Well-Being of American Retirees.” The paper presents the findings of a study which examines four age groups of retirees and how well they are meeting their financial needs and how much an effect real estate can have on meeting retirement expenses. The discussant cites reasons why the results of the study are more positive than other studies.

Description: Tables for the Housing Wealth Effects, Boomer Refinancing, Housing Debt, and Retirement Saving Adequacy—1989-2007 monograph.

Description: Essay on the role of Risk Appetite, Economic Capital and Stress Testing in developing an effective capital budgeting process as part of the Own Risk and Solvency Assessment. Part of the essay collection "Risk Metrics for Decision Making and ORSA"

Description: Discusses the necessity and the difficulty to take management actions into account in ORSA (Own Risk and Solvency Assessment). If management actions were ignored, multi-period scenarios could be too artificial. On the other hand, it is of course very hard to predict management actions. We propose a certain number of characteristics that the ORSA should feature. Part of the essay collection "Risk Metrics for Decision Making and ORSA"

Description: The essay briefly discussed the impacts from implementing ORSA to the main stakeholders in the insurance industry. Those stakeholders include: insurers, regulators, policyholders, investors, rating agencies, insurance industry employees and general public. Part of the essay collection "Risk Metrics for Decision Making and ORSA"