Description: This discussion is about how are computers being used for Underwriting of individual policies mortality and morbidity studies, including the derivation of exposures, analysis of claims, etc. From Transactions of Society of Actuaries 1964, Vol. 16 Pt. 2

Description: This paper presents an analysis of the basic actuarial theory for life insurance policies which have fixed premiums, the entire reserve held in a separate account, the assets of which would be invested primarily in common stocks, etc. From Transactions of Society of Actuaries 1969, Vol. 21 Pt. 1, No. 61

Description: This article contains reviews of the following books: 1. 'The Analysis of Mortality and Other Actuarial Statistics' by B. Benjamin and H. W. Haycocks, 2. 'Life Insurance, Annuities & Pensions' by A. Pedoe, 3. 'Vesting and Termination Provisions in Private Pension Plans' by Carl H. Fischer, 4. 'Decision Analysis: Introductory Lectures on Choices under Uncertainty' by Howard Raiffa, 5. 'Mathematical Methods in Risk Theory' by Hans Buhlmann, 6. 'Early Retirement Benefits-Panacea, Purgatory or Palliative' by Harry E. Blagden, 7 'Early Retirement: A Survey of Company Policies and Retirees' Experiences' by Mark R. Greene, H. Charles Pyron, U. Vincent Manion, and Howard' Winklevoss, 8. 'Guaranty Fund for Private Pension Obligations' by Dan M. McGill, and 9. 'The Automobile Worker and Retirement: A Second Look' by Richard E. Barfield. Notices of other articles and studies are also included. From Transactions of Society of Actuaries 1971, Vol. 23, Pt. 1, No. 65.

Description: This is a discussion about utility theory. From Transactions of Society of Actuaries 1969, Vol. 21 Pt. 2, No. 59

Description: From the 1960 Transactions Vol. 12 No. 32, this article is a discussion of the paper ‘Introduction to Nonproportional Reinsurance,’ by Herbert L. Feay, which also appears in this volume of the Transactions. The contributors to the discussion provide their comments with respect to the author’s paper, raising some questions, but generally finding the paper an excellent introduction to a complex and not well explored field, at least from the perspective of life actuaries. The author, in his reply to the discussion, emphasizes that the paper was meant as an introduction to stimulate further work in this field.

Description: Reviews book entitled Stochastic Theory of a Risk Business by Hilary Seal. Book presents a comprehensive survey of the literature on the mathematical foundations of risk taking as a business.

Description: This paper presents an introduction to collective risk theory. In collective risk theory one seeks to investigate directly the risk enterprise as a whole. Primary interest is focused not upon the gains, losses, or claims from individual policies but upon the amount of total claims or the total gain arising from all the policies in the portfolio considered. Followed by several discussion papers submitted.

Description: This article is a transcript of a session at the Spring 1975 Meeting in Los Angeles. It addresses the question of whether traditional valuation principles can provide the same assurance of company solvency as in the past. Discussions include: Generally Accepted Accounting Principles GAAP, impact of changing asset values on cash flow and surplus problems.

Description: This paper discusses an example showing how simulation has been used to develop financial projections for variable life insurance with a guaranteed minimum death benefit and how recourse to mathematical analysis based on risk-theoretic considerations can enable us to see the impact of stock price changes more clearly. These projections reveal the effects of stock price fluctuations interacting with the more common elements, such as mortality and persistency, on the financial results of a variable life insurance operation.

Description: This section contains book reviews and a select bibliography. From Transactions of Society of Actuaries 1973, Vol. 25, Pt. 1, No. 73. Book topics include statistics, quantitative methods for determining IBNR, and Investing for a Financial Institution. Other books on actuarial and insurance topics are briefly discussed.