Description: Highlights of Society of Actuaries research efforts in the financial services practice area.

Description: Reviews basic desirable features in an economic scenario generator. Discusses basics of model structure and validation process

Description: The author encourages the use of sound actuarial principles to develop reasonable retirement spending budgets instead of rule of thumb approaches commonly used.

Description: There are two main techniques for evaluating the financial impact of interest rate movements on insurance companies: duration measures and computer simulations. In many ways these approaches provide complementary viewpoints.

Description: New Zealand is about to launch its first variable annuity with guaranteed lifetime withdrawal benefits. The product design is mindful of the lessons from the financial crisis in the United States, Europe and Japan.

Description: This article discusses asset-liability management from two different paradigms, one a simulation of the firm as an external observer e.g. shareholder would view it, and the other a “still life” at a given moment from an internal viewpoint.

Description: This article deals with enterprise risk management and how the techniques contained within the discipline can help prevent unforeseen large mistakes in strategy, product design, and product management

Description: This article discusses the recent low interest rate environment and the asset-liability management challenges it presents for insurers. With respect to products such as deferred annuities, universal life and settlement options, it introduces the more robust duration measure called effective duration, which is the product of option-adjusted analysis OAA.