Description: This article highlights some of the results from the Society of Actuaries SOA 2010 update to the 2005 Reflecting Risk in Pricing Survey. The survey focused on how companies are trying to price for and understand the risks inherent in the products they sell in various product lines—life and annuity, health, and property and casualty P&C insurance—and showed results for various countries of location and business focus.

Description: The author summarizes certain presentations at the ERM II Systemic Risk Workshop. The key objective of the workshop was to develop recommendations that could serve as input to regulators, legislators and other policy makers in designing and implementing systemic risk regulation that can prevent future financial crises.

Description: Read the December 2017 issue of Risk Management published by the Joint Risk Management Section. Newsletters provide practical information for the working actuary, articles on trends that impact sections and news about section activities.

Description: This article holistically places ratemaking into its proper risk context and connects the diverse operations that have impact on ratemaking as well.

Description: Business intelligence;

Description: Regular Corner where the Editor introduces the new issue and summarizes its content.

Description: A critical step in valuing a company for the purpose of financial reporting is the computation of the market value of economic surplus (MVES). This article provides a novel approach to the valuation of MVES that is stable and reasonably immune to “market noise.” Current approaches to the calculation of economic surplus of an insurance company generally define such surplus as the market value of the assets (MVA) supporting the liabilities less the market value of liabilities (MVL). While MVA is observable in the market, MVL is typically computed directly, without regard to the underlying supporting assets. Subtracting MVL from any value of assets that changes with market movements results in an unstable surplus. Consequently, a surplus that is not fully reflective of market sentiment has been rejected by many. This same approach is further used in the calculation of market consistent embedded value (MCEV) when a balance sheet approach is used .

Description: Read the September 2019 issue of Risk Management, published by the Joint Risk Management Section. Newsletters provide practical information for the working actuary, articles on trends that impact sections and news about section activities.

Description: Recurring column that lists recent publications in risk management of note to readers.