Description: Bell is comparing his roles from that of an actuary in the USA to that of an actuary working in Cameroon, for a pan-African insurance company.

Description: Whole life insurance nonforfeiture options may be actuarially equivalent at the time premium payments end. When the entire remaining lifetime of the policy is fully considered; however, significant differences emerge in expenses between paying the cash surrender value, converting to reduced paid-up, or converting to extended term insurance. This article explores how a company might manage its existing nonforfeiture options and consider what to continue to offer after a product refiling with that entire lifetime in mind.

Description: This article reviews why financial reporting controls are relevant to actuaries. It also discusses the impact of LDTI on controls and the strategic decisions that insurers need to make.

Description: This essay explores the role that the emerging defined contribution retirement system may be playing in the growth of wealth inequality in the United States. The current system leaves many Americans with little or no retirement savings. Those with higher accumulation levels appear to invest proportionally more in equities, which may have an exponential effect of balances over long time periods. The author hypothesizes that willingness to take investment risk involves the relationship between the amount an investor has accumulated and what she/he needs in order to cover basic costs of living. This is one reason that investors with greater accumulation levels may be able to earn higher rates of return. The essay concludes by suggesting that the U.S. defined contribution system should include all workers and provide additional fiduciary guidance. Examples reforms, both in the U.S. and other countries, are provided.

Description: In *From Distress to Distinction*, Chris Droussiotis explores a novel approach to valuing distressed companies using option pricing theory, drawing parallels to the financial challenges faced by startups. With over 30 years in banking and startup advising, he emphasizes that both distressed firms and early-stage ventures endure periods of negative cash flow but retain potential for recovery. He combines Discounted Cash Flow (DCF) and the Black-Scholes Option Pricing Model to evaluate distressed firms’ recovery prospects and debt sustainability. A case study on Spirit Airlines illustrates this approach: though its current equity value is negative, projected future cash flows suggest significant potential recovery. Droussiotis concludes that strategic valuation, using trend, peer, and expected analysis, can reveal hidden value in distressed companies, guiding effective investment and restructuring decisions.

Description: The article investigates the reasons behind non-zero financial implications for fully reinsured businesses within the regulatory frameworks of US GAAP Long Duration Targeted Improvements (LDTI) and International Financial Reporting Standards (IFRS) 17. It helps companies grasp the nuances of these standards, thereby enhancing their risk management strategies, improving regulatory compliance and optimizing their decision-making processes.

Description: The April/May 2013 edition of The Actuary magazine—the Society of Actuaries’ flagship publication.

Description: The February/March 2014 edition of The Actuary magazine—the Society of Actuaries’ flagship publication.

Description: This article gives a formula for reversing failure into success

Description: Review of paper describing Collective Defined Contribution Plans. the elimination of traditional pensions by many companies have left employees without easy access to reliable retirement income Collective Defined Contribution plans which are used to a small extent in the US but more broadly used elsewhere offer an option for consideration.