Description: This article speculates on the presence and magnitude of the benefits attributable to regular rebalancing of one's investment portfolio. It surveys the extant literature, discusses certain implications, and presents conclusions.

Description: History of Life Insurance insolvencies and evolution of statutory reporting requirements and laws to enable improved control over preventing insolvencies. Reflects my extensive personal knowledge serving on regulatory and industry boards and committees regarding these developments. A key item of solvency control in Risk Based Capital. References provided for FRBC/insolvency data from NAIC and the GAO.

Description: This article presents some thoughts on the role of the investment actuary in the United Kingdom. It is a topical subject, prompted by a feeling that the U.K. profession is not fulfilling its potential in this specialty. The article has three main themes: a Some historical perspective b What the professional actuary uniquely has to offer the investment marketplace and c What the consulting actuaries in the U.K. currently offer their clients.

Description: This article aimed to make Liability Driven Investing LDI more accessible by providing a simple definition and by showing how plans of different sizes and circumstances may adopt an appropriate LDI approach.

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: 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: 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: This article will examine four approaches under two different methods (eight in total) used to combat the non-additivity of key rates and will compare them under a number of rate environments.