Description: The goal for an insurance firm is to maximize value. This paper describes the approach using an objective function of the Option Adjusted Value of Distributable Earnings OAVDE. The paper provides a review of the evolution of accounting treatment suggests a methodology for estimating market value of assets and liabilities extends that market value to the value of the firm using OAVDE and illustrates how this methodology can be incorporated into an insurance firm's financial management. From Society of Actuaries Financial Reporting Monograph, M-AS99-1.

Description: In this paper, a general multivariate duration analysis is introduced that does not depend on a mathematical formulation of the way in which a yield curve moves. To motivate the multivariate approach, simple examples are presented that demonstrate the limitations of the traditional model when yield curve shifts are not parallel.

Description: In this paper we present a large-scale study of the Medicare Part B mortality experience over the entire decade of the 1990's based on the Social Security Administration's Master Beneficiary Record, and featuring an extensive effort to edit the microdata, particularly by comparison with other data files.

Description: Graphs mortality experience over the prior 15 years, show possible trends over the prior 80 years, discusses the impact on liabilities and funding of the New York public retirement system based on projections of life expectancy, and discusses the possible factors that have affected mortality.

Description: Discussion of three papers presented at Living to 100 and Beyond symposium. Papers discussed: ' The Roles of Aging, Longevity Determination and Pathology on Human Life Span and Life Expectation' by Hayflick, 'Plastic Omega' by Held, and 'Underlying and Multiple Cause Mortality at Advanced Ages: United State 1980 - 1998' by Stallard. The first paper is an overview on aging, the second paper is a survey of aging research and the third paper discusses underlying and multiple cause mortality.

Description: This paper examines different objectives in managing credit concentration risk. The suitability of different measures and presentation techniques is discussed and illustrated in the context of a case study.

Description: 2011 Enterprise Risk Management Symposium, Chicago. This is the abstract of the entitled paper.

Description: 2011 SOA Enterprise Risk Management Symposium, Chicago. This is the abstract of the referenced paper.

Description: Presented at the Living to 100 Symposium, January 2011. Long-term care LTC insurance is frequently not covered by national social insurance programs. When costs are expressed as a percentage of gross domestic product, the future burden of financing LTC would not lead to unbearable tax levels and is not particularly large in comparison to the projected costs for pensions and health care. After identifying the breadth of definitions of LTC needs, it is argued that LTC is an insurable risk. The paper concludes that LTC social insurance is affordable in developed countries.

Description: Presented at Living to 100 Symposium, January 2011. This article estimates the impact of obesity and diabetes on disability and mortality for those older than 65 using the 2004 National Long Term Care Survey with disability based on the Health Insurance Accountability and Portability Act's Activities of Daily Living and Cognitive Impairment triggers.