Actuarial

Actuarial – Snippets – 1960s All these methods are based one way or another on the ancient truth that the present value of benefits, expenses, and margins must equal the present value of premiums. When one considers the interest assumption, it must be remembered that rates are presently very high but may be showing signs…

Actuarial – Snippets – 2010s …customers may be satisfied with companies because they provide inexpensive products, but the customers may be misinformed about what is being sold. (p3) 2015 0501 – Letter – AAA to IAIS – Committee Comments To IAIS on Conduct of Business Risk Draft Paper, American Academy of Actuaries – 4p 5. In your view, how…

2000s – Actuarial – Snippets C. Life Insurance is only Balance sheet where 99% of the reserves (the major liability risk item) include no indication of what the company actually believes about the listed future obligations other than that they are adequate.  (p49) 2001 12 – AAA to NAIC – Risk Management in the Insurance…

1970s – Actuarial – Snippets The consumerists are having a fine time these days with the life insurance industry about which it seems there is nothing favorable to be said. A distinguished member of the Senate* is agitating for a “truth in life insurance” law and this provoked the following comment from one newspaper: “Probably…

Actuarial – Snippets – 1950s The approach in this paper is to follow the precept of the proverb “Better one picture than ten thousand words!” — by an actuarial proverb– “Better one ratio than ten thousand words!” —  Arthur Pedoe 1952 – SOA – The Trend of Life Insurance Company Expenses, Society of Actuaries -…

1980s – Actuarial – Snippets Whenever you are working on something new and innovating, it is always a good idea to look back and see what the ancients called it. —  Charles W. McMahon 1980 – SOA – Product Innovation – Response to Consumer Needs in the 1980’s, Society of Actuaries – 14p Some of our…