Description: The abstract for the paper Living to 100 and Beyond: An Extreme Value Study

Description: The abstract for the paper Diversification Benefits of the Variable Annuities and Equity-Indexed Annuities Mixture.

Description: The abstract for the paper A Mulit-Stakeholder Approach to Capital Adequacy.

Description: This paper discusses the key forces likely to influence U.K. mortality in the 21st century, and describes the methodology and assumptions used in the latest projections of U.K. mortality. The paper also describes recent tables of mortality rates published by the Continuous Mortality Investigation, based on the experience of people taking out insurance contracts and the approaches taken to projecting these.

Description: We propose an age-shift model to modify the LC model and deal with the problem of parameters. The proposed method attains smaller estimation errors with respect to mean absolute percentage error or mean square error. We also apply the proposed age-shift model to the mortality rates of these four countries to evaluate the longevity risk in annuity products by measuring life expectancy.

Description: This paper presents recent trends in obesity prevalence in significant population segments, including overall effects by age, gender and certain racial and ethnic groups, and discusses the ways in which obesity can influence mortality in each of these segments. It provides a synthesis of reported mortality experience relating to these behaviors by risk factors and diseases that will affect any mortality projection.

Description: Increased attention was paid to regulatory capital with the global financial crisis in 2008. Whilst companies may not have the incentives to retain a large amount of capital in the absence of regulatory capital requirements, overcapitalized entities can have drawback such as its impact on competitiveness. There are other weaknesses in the regulatory capital model such as its limitation in facilitating risk-based decisions as regulatory capital does not necessarily reflect the economic reality and risks an entity faces. Nonetheless, there are ways for regulators and/or companies to handle the weaknesses in the regulatory capital model. For instance, granularity can be introduced in determining regulatory capital. Economic capital can be used to encourage entities to implement risk management controls and facilitate risk-based business decisions (e.g., risk-adjusted performance assessment and risk-based capital allocation). Ultimately, hav ing effective risk management and risk-based capital determination are ways to prevent company failures and bankruptcies.

Description: The idea that events do not happen in isolation is not new; the notion of systems, that is, a set of entities interacting, is based on it. This is reflected in the comprehensive terminology that has been developed to express the effect that events have on each other: domino or downstream effects, unintended consequences, causality, catalyst or inhibitor, synergy, network, etc.

Description: Abstract: This paper examines the potential impact of increasing negative commentary by social media users in multiple forums, which can erode the “reputation capital” of a utility. It also offers an approach for successfully addressing that risk and integrating social media risk management practices into existing utility enterprise risk management (ERM) programs.

Description: The paper takes a critical stand on best ERM practices as proposed by the Cultural Theory of Risk and especially by the work of Ingram, Underwood and Thompson (IUT). The paper claims that both mainstream-type ERM practices ("rigid ERM") and IUT's alternative ("fluid ERM") fail in critical parts to account how risk managers, in everyday normal tasks, develop their ERM practices in a context-dependent way. Context-dependent ERM takes into account the whole context, that is both the recognition that risk environment changes and the need for the firm to develop a stable (yet open to meaningful changes) sociotechnical identity with a consistent risk attitude and appetite.