Description: Life Reinsurance Data from the Munich American Survey by James L. Sweeney and David M. Bruggeman Reinsurance Section News, August 1998, Issue No. 44.

Description: Announcement of the ARC Graduate Student winners from the 2010 conference at Simon Fraser University.

Description: Articles appearing recently in other publications that may be of interest to financial reporting actuaries.

Description: A table from an article in The Actuary Magazine entitled An Analysis of Risk Management Terminology - Your guide to speaking ERM with different industries.

Description: 2011 SOA International Financial Reporting for Insurers Seminar, Hong Kong. This is a spreadsheet associated with Session 26 – 'Presentation Workshop' held at the 2011 SOA International Financial Reporting for Insurers Seminar in Hong Kong. This spreadsheet facilitated the objectives of the workshop which focused on building the statement of comprehensive income using the exposure draft approach.

Description: This is the first of two articles discussing technologies used to control data. this article covers data management strategies.

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: This paper applies the research in Prospect Theory of Kahneman and Tversky to explain why sales of annuities lag sales of life insurance products. The author theorizes that life insurance is easier to sell because customers perceive themselves to be in the domain of losses, while potential annuity customers perceive themselves to be in the domain of gains. Kahneman and Tversky showed us that people are mostly risk averse in the domain of gains and risk seeking in the domain of losses. Purchase of an annuity or life product is a risky investment. Customers will find it easier to take the risk in the life insurance domain of losses than the annuity domain of gains. The author then proposes a hybrid life annuity product that might address both mortality and longevity risk in one product that would allow both products to be more competitive than stand-alone products.

Description: How insurers can include a liquidity score and liquidity stress scenarios as part of their asset liability management (ALM) protocol.