Description: The CAS is pleased to present its Research Paper, “Users’ Guide to Economic Scenario Generation in Property-Casualty Insurance”. Although there are cases in the literature about the use of economic scenario generators (ESGs) in the property casualty industry, they are far more commonly used for life insurance companies. Our hope is that this paper will serve as a comprehensive guide to the implementation of ESGs in the non-life space and spark interest in research into new applications of ESGs.

Description: In insurance companies and pension plans currency risk arises when a company has future obligations in one currency and investments in another currency. The question that is often asked is whether this currency risk should hedged or not.

Description: Update on a contest being held by the Investment Section.

Description: Crossword puzzle for the February 2020 issue of Risks & Rewards.

Description: Overview of Investment Section activity and vision ahead.

Description: This article suggests ways for small insurance companies to obtain modeling information on more intricate assets, such as collateralized mortgage obligations [CMO], at a low cost.

Description: Actuarial appraisals are performed using discounted cash-flow models. Using local market insurance accounting standards, an appraisal model typically assumes annual after-tax distributable earnings that are repatriated to the investor. The various lines of business are modeled and validated individually and presented in separate sections of the appraisal report before being aggregated into a total company model. From Actuarial Considerations in Insurance Mergers and Acquisitions, M-FI03-1.

Description: The concept of crosshedging gives us the key to the actuarial understanding of most new tools arising in the area of alternative risk transfer mechanisms. Securitization of insurance, which is the theme of this symposium can, as I see it, almost always be seen as an exercise in crosshedging. The 1995 Bowles Symposium, M-FI97-1.

Description: A Framework for Managing Surplus by David N. Becker from The Financial Reporter, May 1999, Issue No. 39.

Description: This article series highlights the growing impact of climate change on health, property, and financial institutions, emphasizing the need for actuaries and risk analysts to evaluate and adapt their practices to manage evolving climate-related risks.