Description: Feature article discussing the 2009 price action - periods of extreme distress and incredible euphoria across the global financial markets. The reversals experienced from asset class lows to their highs have not been seen in decades.

Description: Summary of research project designed to document method to credit interest rates to account value based products. The investment year method (IYM) can theoretically align with investment strategy and be fair to policyholders. These products were designed in the 1980s with guaranteed nominal rates above what is currently accessible so most products credit the guaranteed rate. This paper documents how it could be resurrected during the next interest rate cycle.

Description: The article introduces a cashflow matching strategic asset allocation (SAA) framework for life insurers. Given the recent shift to higher interest rates after two decades of persistent low interest rates, insurers have an opportunity to enhance their asset liability management by rebalancing asset portfolios to narrow duration gaps and attain higher risk-adjusted yields. The framework aims to align investment objectives with economic, regulatory, and rating agency requirements. It prioritizes cashflow matching as the primary optimization goal and incorporates security-level asset information to assist portfolio managers in executing SAA seamlessly. The article highlights the benefits of the cashflow matching SAA framework, including greater attention to cashflow matching, unbiased results, readily executable strategies, and stable economic reserves. A case study is included to demonstrate the effectiveness of the framework in improving risk-adjusted return and cashflow matching for a representative liability block.

Description: Feature article provides a glimpse into recent changes to various standards of care owed to customers that will undoubtedly have a significant impact on the products and services offered by many financial institutions.

Description: Article from Investment Section staff partner describing the newsletter production process.

Description: Read the February 2020 issue of Risks & Rewards newsletter published by the Investment Section. Newsletters provide practical information for the working actuary, articles on trends that impact sections and news about section activities.

Description: Column from the chairperson of the Investment Section.

Description: Feature article discussing the current state of interest rates globally.

Description: Risk Management and Actuaries—SOA Risk Management Task Force Update

Description: In this article chairperson Anthony Dardis takes a look back at the achievements of the Investment Section Council halfway through his tenure as chair.