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

Description: The valuation of illiquid assets is a vast topic, which is very much in a state of development. Based on comments made by investment professionals during the preparation of the proposal, this is a very challenging area of research. Generally, the investment industry will look with great interest on the outcome of this research. The research proposal was restricted in two ways. The literature review was focussed on the valuation of private placement debt PPD and real estate. The case study was limited to analyzing valuation methods with respect to PPD. Sponsored by CAS, CIA, SOA Joint Risk Management Section.

Description: An overview of the principles, underlying theories, and the various strategies employed in Asset/Liability management. From Asset-Liability Integration, M-FI02-1.

Description: A discussion of how in recent years, the unpredictability of cash flows has become a bigger source of risk than it was in the past for insurers. Includes a discussion of how some of the risk due to this unpredictability might be managed through asset management strategies. From Asset-Liability Integration, M-0FI02-1.

Description: Discussion of the insurance purchase decision for corporations, using an ALM perspective of utilizing insurance to maximize the net present value of cash inflows minus out flows. Also discusses how ALM concepts can be used to value a corporation, using discounted values of cash inflows minus outflows and the risks the corporation faces with respect to the amounts or timing of those cash flows. From Asset-Liability Integration, M-FI02-1.

Description: Discussion of the US Social security system from the perspective of Asset Liability management theory. From Asset-Liability Integration, M-FI02-1.

Description: New Zealand is about to launch its first variable annuity with guaranteed lifetime withdrawal benefits. The product design is mindful of the lessons from the financial crisis in the United States, Europe and Japan.

Description: The author encourages the use of sound actuarial principles to develop reasonable retirement spending budgets instead of rule of thumb approaches commonly used.

Description: Modeling experience sharing by David Yu who leads the retirement product and asset model development team within Prudential Financial

Description: This report introduces actuaries and risk managers in the insurance and pension industries to current literature discussing growth rates in the past and future expectations.