Description: This paper examines different objectives in managing credit concentration risk. The suitability of different measures and presentation techniques is discussed and illustrated in the context of a case study.

Description: 2011 SOA ERM Symposium, Chicago. This paper addresses the contradiction between the financial theory of hedging and management practice. It also examines how consistent hedging policy is incompatible with management’s competencies and role in the company, requiring management to form strong future price expectations. Finally, this paper describes a process that management actually follows when making decisions about hedging and stress the role of the expectations discrepancy in this process.

Description: The article offers a more nuanced approach to caregiving as the population ages, suggesting our current focus on planning leaves out most people. Instead find solutions for non-planners!

Description: Infrastructure investments are growing as an asset class in institutional portfolios because they present significant diversification benefits to investors, and importantly for pension plans, typically represent long-term projects. Infrastructure presents a unique opportunity for investors interested in long-duration products that help match liabilities. This session outlines the structure of infrastructure deals, how investments can be made through either equity or debt financing, the importance of ESG, and how to incorporate infrastructure in an institutional portfolio.

Description: The management of the investments of an insurance enterprise has undergone a considerable evolution since the pioneering work of Redington in the mid 20th century. Best practices have evolved to incorporate ever more complex insurance liabilities, expanding investment asset classes and global market opportunities. Strategic asset allocation (SAA), liability driven investing, and other robust optimization approaches form the core of the professional management of insurance company investments.

Description: Institutional investors such as pension plans and insurance companies have enjoyed strong equity returns for a length of time with few historical precedents. Nearly a decade after the end of the financial crisis, strategies to provide downside protection remain expensive and the performance of traditional risk-managed funds has disappointed investors.

Description: Review of changes made to life insurance taxation in Australia.

Description: Excellent big picture view for planning a social insurance system with pay-as-you-go, required self-funded, and voluntary plans.

Description: Comparison of S&P’s published ratings standards in the United States and Europe with regards to capital adequacy ratios.

Description: This article discusses credit default options, the applications, pricing and hedging default risk.