Description: In this article about interest rate models, the author develops an empirical description of the term “interest rate regime,” and looks at the relationship between changes in yield curves and moving to a new interest rate regime.

Description: Society of Actuaries research efforts currently in development

Description: Insurance companies use derivatives to manage and mitigate risks that are inherent in their investment or liability portfolios, including traditional asset/liability matching, dynamic hedging and static hedging. The authors explore how Solvency II will influence life insurers’ hedging strategies.

Description: We propose asymptotically correct two-sided bounds for random sums where the number of summands has an arbitrary distribution which can be viewed as ruin probabilities or accumulated claim sizes in various risk processes. The bounds are fairly new and they reveal the real accuracy of some well-known and widely used asymptotic formulas. It turns out that this accuracy can be poor and the range where these formulas give appropriate approximations depends on the shape of the tail distribution of the summands. This dependence is examined in the research.

Description: China’s pension system has transformed from traditional retirement system based on command economy to modern pension system based on market economy .

Description: Updated metrics for measuring financial stress among multiemployer pension plans in the United States.

Description: This study is intended to educate insurance professionals on historical insurer impairments and insolvencies and possible future prevention indicators.

Description: Read the October 2016 issue of Expanding Horizons published by the Education and Research Section. Newsletters provide practical information for the working actuary, articles on trends that impact sections and news about section activities.

Description: This is a study on the Nesbitt formula and the variants to this formula.