Description: This article looks at the purpose of the closed block, how it works, what some of the drawbacks are, the implementation of the concept and if there are any preferable alternatives to the closed block. From Society of Actuaries Financial Reporting Monograph, M-AS99-1.

Description: In this article, the current state of the liabilities market is discussed. Two paradigms are then explored for defining and subsequently calculating an insurance liability market value. From Society of Actuaries Financial Reporting Monograph, M-AS99-1.

Description: This paper presents an algorithm for valuing American options in a path simulation model. It demonstrates the accuracy by an example involving a put option on a non-dividend-paying stock for which the exact premium could be determined. It shows how the use of simulation models can be useful in valuing a broker-dealer's derivative book and analyzing the asset-liability condition of financial intermediaries.

Description: This paper sets the task of pricing insurance products in the larger framework of company planning and management. A generalized description of the pricing function, applicable to any insurance company project.

Description: One-page overview of monograph contents. From Actuarial Considerations in Insurance Mergers and Acquisitions, M-FI03-1.

Description: Role of the Actuary: One of the most complicated tasks an actuary can perform is large-scale corporate modeling in an attempt to shed light on the relationship between value, performance and risk. In specialized situations such as mergers and acquisitions, it may be appropriate to have external actuaries perform the work rather than attempt the task with internal resources. From Actuarial Considerations in Insurance Mergers and Acquisitions, M-FI03-1.

Description: Bibliography. From Actuarial Considerations in Insurance Mergers and Acquisitions, M-FI03-01.

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.