Description: This article is a welcome letter from the SOA Board of Governors to The Actuary Magazine

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Description: A former health actuary, who became a health insurance expert witness, tells about her work, who she deals with, and how she gets business.

Description: Reports the results of one application of a Future Research technique-in this case, forecasting future economic variables.

Description: Discusses the influences that foreign economies have on the U.S. economy and the risks that those influences create for the U.S. life insurance industry.

Description: First of all, I probably watch too many awards shows -- the kind where the winners have a long list of people to thank for their success -- one of whom always turns out to be their muse. A muse seems to be a very popular thing to have, but all it does for me is cause visions of Zeus' daughters in long, white, flowing robes to flitter through my mind and I begin to wonder why they are giving the award to the winner and not to the muse. Well, just like the bandito Gold Hat in the 1948 film version of "Treasure of the Sierra Madre" didn't need no stinkin? badge to pursue his dream, I don't need a muse to pursue mine and neither should you.

Description: This is a review of 'Restructuring Retirement Risks,' a collection of papers that examines retirement risks, edited by David Blitzstein, Olivia Mitchell, and Stephen Utkus. The papers, which are a must–read for serious students of retirement systems and a good introduction for those not as familiar with the issues, explore the stresses being placed on those systems and ever–increasing uncertainty as Baby Boomers begin to move into retirement.

Description: The Brazilian market is presently the largest life market in Latin America, so the recent news regarding the abolishment of the reinsurance monopoly there will certainly place Brazil on the radar screens of all major life reinsurers. The article describes the impact on the Brazilian lfe insurance market and the international reinsurance market.

Description: The United States has received severe negative press the last several years regarding its massive U.S. federal government debt, currently estimated as of April 2007 at about $8.9 trillion. This article looks at the U.S. debt relative to other countries and also explores the impact on U.S. investments.

Description: This editorial notes how change is constant in the world around us and that the SOA has adopted a theme of change. Articles in this issue of The Actuary, which are all related to change, are summarized.