Description: In this paper we investigate three investment-consumption problems for a risk averse investor: i an investment only problem that involves utility from only terminal wealth, ii an investment-consumption problem that involves utility from only consumption, and iii an extended investment-consumption problem that involves utility from both consumption and terminal wealth. We model these problems under a multiperiod setup that incorporates three types of uncertainties: the economic environment uncertainty, the asset return uncertainty, and the mortality uncertainty. By using dynamic programming, analytical expressions of the optimal investment consumption strategies to these problems are derived. Some economic implications on these results are also discussed.

Description: Update on IASB Activities during the last quarter of 2016.

Description: Continues the look from previous articles at unlocking of traditional contract valuation assumptions, this time examining the effects of lapses.

Description: Discusses how 'insignificant' changes in assumptions can have very significant affects.

Description: Feature article discussing the Life Settlements business: recent growth, pricing, and future of the business.

Description: Highlight of the ERM Symposium

Description: This article discusses the actuary's role in project management including analysis, design, implementation and quality assurance.

Description: Discussion of how meaningful GAAP ROE is as a measurement of management performance or how well management has deployed capital over a reporting period.

Description: Discussion of asset adequacy analysis: various ways to comply with requirements

Description: Mortality Credibility and its use within VM-20.