Τεύχος 4/2010. Εποπτεία ασφαλιστικού κλάδου (Actuaries in insurance) Διεύθυνση Οικονομικών Μελετών Τμήμα Βιβλιοθήκης

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1 Τεύχος 4/2010 Εποπτεία ασφαλιστικού κλάδου (Actuaries in insurance) Διεύθυνση Οικονομικών Μελετών Τμήμα Βιβλιοθήκης

2 Περιεχόμενα Εισαγωγή...2 Άρθρα από Business Source Corporate & EconLit with Full Text...3 Άρθρα από ABI / INFORM Complete...9 Άρθρα από Factiva...13 Σημ.: Η εικόνα του εξωφύλλου είναι έργο του Vincent Van Gogh ( ) με τίτλο The Yellow Books, c.1887 Τράπεζα της Ελλάδος Βιβλιοθήκη, Εποπτεία ασφαλιστικού κλάδου (Actuaries in insurance), Οκτώβριος

3 Εισαγωγή Η παρούσα «Βιβλιογραφία» έχει θέμα «Εποπτεία ασφαλιστικού κλάδου (Actuaries in insurance)» και περιλαμβάνει άρθρα πλήρους κειμένου που προέρχονται από τις βάσεις δεδομένων: Business Source Corporate & EconLit with Full Text με περίοδο δημοσίευσης από το 2008 μέχρι και τον Μάιο 2010 ABI / Inform Complete με περίοδο δημοσίευσης από το 2008 μέχρι και τον Οκτώβριο 2010 Factiva με περίοδο δημοσίευσης από το 2009 μέχρι και τον Οκτώβριο του Τα άρθρα που προέρχονται από τις βάσεις δεδομένων Business Source Corporate & EconLit with Full Text έχουν προκύψει από την αναζήτηση με: λέξη κλειδί Actuaries και Insurance στο πεδίο «Θεματικοί όροι (Subject terms)», με είδος/τύπο έκδοσης: επιστημονικά περιοδικά, περιοδικά, trade publication, country report και με είδος δημοσίευσης: άρθρο Τα άρθρα που προέρχονται από τη βάση δεδομένων ABI / Inform Complete έχουν προκύψει από την αναζήτηση με: λέξεις κλειδιά Actuaries και Insurance Industry ή Insurance Companies στο πεδίο «Θεματική επικεφαλίδα (Subject Heading)», με είδος/τύπο έκδοσης: επιστημονικά και εμπορικά περιοδικά και με είδος δημοσίευσης: άρθρο. Τα άρθρα που προέρχονται από τη βάση δεδομένων Factiva έχουν προκύψει από την αναζήτηση με: λέξεις κλειδιά Actuaries και Insurance* με κριτήριο η αναζήτηση να περιέχει έως και τρεις λέξεις ανάμεσά τους (W/3) στο πεδίο «Επικεφαλίδα (Headline-Lead Paragraph)», με πηγή «Δημοσίευση κατά τίτλο Α-Ζ (Publication by title A-Z)». Οι βιβλιογραφικές αναφορές κατατάσσονται με χρονολογική σειρά, έτσι ώστε να προηγείται η πιο πρόσφατη. Στα περιεχόμενα κάθε έτους οι αναφορές κατατάσσονται κατ απόλυτη αλφαβητική σειρά στον τίτλο του άρθρου. Στις βάσεις δεδομένων Business Source Corporate και EconLit with Full Text, σε κάθε αναφορά άρθρου δίνονται τα εξής στοιχεία: Τίτλος, συγγραφέας, τίτλος περιοδικού, αρίθμηση τεύχους, χρονολογία έκδοσης, σελίδες, περίληψη και το όνομα της βάσης δεδομένων. Η ανάκτηση του πλήρους κειμένου είναι εφικτή μόνο από τη Βιβλιοθήκη. Στη βάση δεδομένων ABI / Inform Complete σε κάθε αναφορά άρθρου δίνονται τα εξής στοιχεία: Τίτλος, συγγραφέας, τίτλος περιοδικού, αρίθμηση τεύχους, χρονολογία έκδοσης, σελίδες. Η ανάκτηση του πλήρους κειμένου είναι εφικτή μόνο από τη Βιβλιοθήκη. Στη βάση δεδομένων Factiva, σε κάθε αναφορά άρθρου δίνονται τα εξής στοιχεία: Τίτλος, συγγραφέας, τίτλος περιοδικού, αρίθμηση τεύχους, χρονολογία έκδοσης και σελίδες. Η ανάκτηση του πλήρους κειμένου είναι εφικτή μόνο από τη Βιβλιοθήκη. Επιμέλεια έκδοσης Εύα Σεμερτζάκη Μάρι Κωνσταντινίδου τηλ.: τηλ.: esemertzaki@bankofgreece.gr mkonstantinidou@bankofgreece.gr Μαρία Γαβρίλη τηλ.: mgavrili@bankofgreece.gr Αθήνα, Οκτώβριος 2010 Τράπεζα της Ελλάδος Βιβλιοθήκη, Εποπτεία ασφαλιστικού κλάδου (Actuaries in insurance), Οκτώβριος

4 Άρθρα από Business Source Corporate & EconLit with Full Text 2010 CERA: (Out) Running The Risk. By: Gorski, Dennis. Best's Review, May2010, Vol. 111 Issue 1, p52-53, 2p Abstract: The article discusses the development of Chartered Enterprise Risk Analyst (CERA) professional designation by the Society of Actuaries (SOA) in Illinois. SOA is the largest domestic professional organization of its kind, considered as the beacon in the insurance industry because of its achievements in the field of underwriting. CERA identifies high-caliber risk management professionals and recognizes that risk is a constant threat to all companies Actuaries Should Explore Alternative Approaches. Insurance Advocate, 4/20/2009, Vol. 120 Issue 8, p32-32, 2/3p Abstract: The article reports on the assertion by Ian Ayres, a lawyer and economist in the U.S., that actuaries should explore alternative approaches. At the Casualty Actuarial Society Ratemaking Seminar, he said that non-traditional approaches to predictive analysis may have a role for actuaries. He mentioned the ability of Epagogix to predict the box office success of movies through the use of the neural network model. Boring is Beautiful. By: Campbell, Alister. Canadian Underwriter, Jul2009, Vol. 76 Issue 7, p14-17, 4p Abstract: The article discusses several insurance principles that could be applied more broadly to the risk management challenges of other financial services sectors. Insurers make a contractual commitment in selling policies that its capital will be made available to offset losses of those who avail such policies. Professional actuaries determine the adequacy of required reserves. Also, the reserving adequacy of each insurer is regularly peer-reviewed by an external actuary. Τράπεζα της Ελλάδος Βιβλιοθήκη, Εποπτεία ασφαλιστικού κλάδου (Actuaries in insurance), Οκτώβριος

5 Dynamic Financial Analysis in the Insurance Industry Author: Shiu, Yung-Ming Author Affiliation: National Cheng Kung U Source: Geneva Papers on Risk and Insurance: Issues and Practice, April 2009, v. 34, iss. 2, pp Publication Date: April 2009 Abstract: Although dynamic financial analysis (DFA) has gradually gained attention over the recent years, knowledge is scant about the practices in the insurance industry. The objective of this paper is to provide insights into the practices. The investigation is conducted via a field study in five U.K. insurance companies. An example is given to illustrate how DFA works in general. The results highlight key matters that actuaries emphasise when carrying out dynamic financial analysis. This paper sets out important implications that insurance regulators and the actuarial profession can take into account as they refine their supervisory and regulatory regime. Πηγή: EconLit with Full Text External Actuary Use Grows While Top Four Auditors Claim 72.4% of Market. (cover story) By: Klinger, Stephen Brown. Best's Review, Jan2009, Vol. 109 Issue 9, p65-67, 3p Abstract: The article presents a study the from A.M. Best Co. Inc.'s annual review of the auditor and actuarial markets which showed that top firms in the U.S. and Canada remained dominant. The study included 2007 statutory filings submitted to A.M. Best for 3,933 American and Canadian insurance companies. It was found that the leading audit firm is PricewaterhouseCoopers LLP, while the leading actuarial firm is Milliman Inc. Financial Literacy and the Challenges of the Postretirement Period. By: Rappaport, Anna M.; Siegel, Steven. Benefits Quarterly, 2009 Third Quarter, Vol. 25 Issue 3, p7-16, 10p, 3 Charts, 1 Graph Abstract: The Society of Actuaries has undertaken a significant number of integrated research efforts to identify risks associated with the postretirement period, understand the general public's awareness and perception of those risks over time, and determine approaches used to manage them. This article reviews the categories and specific types of risks identified, observations from Society of Actuaries research about the extent to which they are recognized and acted upon, and challenges that gaps in financial literacy create for managing them. Recommendations to improve financial literacy through employers and others providing benefit guidance are also discussed. The recommendations draw upon testimony presented to the Employee Retirement Income Security Act (ERISA) Advisory Council in [ABSTRACT FROM AUTHOR] Τράπεζα της Ελλάδος Βιβλιοθήκη, Εποπτεία ασφαλιστικού κλάδου (Actuaries in insurance), Οκτώβριος

6 Questions. By: Oberholtzer, Marc. Best's Review, Jan2008, Vol. 108 Issue 9, p70-73, 4p Abstract: The article discusses 20 questions an audit committee member can ask to actuaries to improve their understanding of the loss-reserving process in the insurance industry in the U.S. It stated that a member can ask who are the principal actuaries in the process, the structure of the team and the significant judgments and assumptions used in the loss-reserving process. Meanwhile, the role played by actuaries in the sector is also discussed. THE CONTROVERSY. Advisor Today, Apr2008, Vol. 103 Issue 4, p16-16, 1/5p Abstract: The article focuses on the controversy on secondary-guaranteed life insurance products (SGP) in the U.S. The controversy involves reserves companies that sell these products, trying to meet their long-term promises. It has been claimed that due to lowered premiums, SGP policies have a much smaller margin for error. Actuaries and rating agencies have warned that companies with large blocks of SGP may cause long-term financial impairments to their reserves and create risk for policy owners. Designing a social security pension system. By: Brown, Robert L.. International Social Security Review, Jan-Mar2008, Vol. 61 Issue 1, p61-79, 19p, 2 Charts, 6 Graphs Abstract: This paper looks at potential models of social security pension systems. It refers often to the systems that exist in the United States and Canada (the latter more particularly) to outline the issues involved in attempting to design a good social security pension system. Of course, one of the issues is the definition of good. This paper will use criteria such as poverty alleviation, retirement income adequacy, benefit/contribution sustainability, income equality and wealth distribution. In the course of the discussion, the reader will be exposed to many issues that need to be addressed in the establishment of any social security pension system in the world. This may prove to be helpful in countries where new systems are established (and even for evolving systems). It is also hoped that future students of social security will find this paper helpful in that it is meant to lay out some basic principles consistent with good social security pension design. [ABSTRACT FROM AUTHOR] Disability cover is important. By: Marx, Petrie. Finweek, 11/20/2008, p26-26, 1p Abstract: The article focuses on the perspective of Petrie Marx, product actuary at Glacier, concerning the importance of disability cover. Marx said the greatest need is among younger people, who want to ensure their families are looked after for anything up to many years. He argued that disability cover is not expensive, but is cost effective if a client takes it out at a young age, since it becomes more expensive the older he or she gets. Τράπεζα της Ελλάδος Βιβλιοθήκη, Εποπτεία ασφαλιστικού κλάδου (Actuaries in insurance), Οκτώβριος

7 Guide To The Directory. National Underwriter / Life & Health Financial Services, 3/3/2008, Vol. 112 Issue 8, ps3-s3, 1/4p Abstract: The article presents a guide to the directory "Who Reinsures What," a comprehensive list of reinsurers in the life, health, annuities and accident lines of business. It was stated that the directory offers an alphabetical listing of reinsurance providers surveyed by the journal "National Underwriter" and the reinsurance section of the Society of Actuaries. In addition, the directory offers other information about reinsurers, including one about how reinsurers work with their customers. Insurance Auditors and Actuaries Of North America By: Klinger, Stephen Brown. Best's Review, Jan2008, Vol. 108 Issue 9, p75-75, 1p Abstract: The article reports on A.M. Best's 2008 annual review of insurance auditors and actuaries of North America. Data showed that top firms continue to expand their dominance and the market for actuarial firms keeps on growing. The article also presents exhibits of the study, showing the largest players known as the Big Four and Top Six, which grow their market shares by nine percent and 5.9 percent, respectively. Moreover, methods of conducting the study were also presented. Letters Seek To Educate Treasury On Principles-Based Reserving. By: Connolly, Jim. National Underwriter / Life & Health Financial Services, 5/19/2008, Vol. 112 Issue 19, p8-40, 2p Abstract: The article discusses on the response made by the American Academy of Actuaries (AAA) to an IRS notice requesting input on the principles-based reserving system and actuarial guideline proposals in the U.S. According to the chairman of the AAA, Dave Sandberg, the letter is part of a dialogue and seeks to inform Treasury about technical details of the project. It points out the academy is trying to establish on the reserves that are designed to ensure the promised benefits that can be funded. LTC Insurance Claims Doubled From 2001 To 2005, SOA Finds. By: Thomas, Trevor. National Underwriter / Life & Health Financial Services, 1/14/2008, Vol. 112 Issue 2, p7-25, 2p Abstract: The article reports on the long term care (LTC) insurance claims that have doubled from 2001 to 2005 in the U.S. According to the Society of Actuaries (SOA), LTC insurers are developing extensive experience in managing claims and policies, developing more details on claims exposure, claims paid and termination rates. SOA found voluntary lapse rates by policy holders dropped to 5.5% in the period Meetings. Best's Review, Oct2008, Vol. 109 Issue 6, p12-12, 1/3p Abstract: A calendar of events related to the insurance industry in the U.S. from October 15-November 7, 2008 is presented which includes the annual insurance ratings conference, the American Land Title Association annual convention and the Society of Actuaries annual meeting. Τράπεζα της Ελλάδος Βιβλιοθήκη, Εποπτεία ασφαλιστικού κλάδου (Actuaries in insurance), Οκτώβριος

8 New Laws Toughen Regulation of WC Trusts. By: Best, Jessica. Insurance Advocate, 6/30/2008, Vol. 119 Issue 13, p12-13, 2p Abstract: The article reports on the new legislation that strengthen the group selfinsured trusts in New York. The legislation includes regular review of trust finances by independent actuaries, heightened penalties for misconduct, and establishment of procedures to ensure that underfunded trusts become fully funded. It also addressed the strain on the worker's compensation system as a result of a handful of group selfinsurers that have been defaulted. New Valuation Manual Could Expand Reinsurance Offerings. By: Connolly, Jim. National Underwriter / Life & Health Financial Services, 3/3/2008, Vol. 112 Issue 8, ps8-s9, 2p Abstract: The article focuses on the capability of the new Valuation Manual (VM-20) to expand the offering of reinsurance products in the U.S. It was stated that the new manual is an actuarial guideline used to enact principles-based reserving (PBR), an approach for reducing redundant reserves. PBR would allow companies to effectively reflect risks and admit new reinsurance products that transfer risk. The disapproval of the manual by several key states, such as Florida and New York, is discussed. Older Age Life Underwriting Needs New Approach, Life Conference Told. By: Koco, Linda. National Underwriter / Life & Health Financial Services, 4/14/2008, Vol. 112 Issue 14, p8-25, 2p Abstract: The article reports that the majority of life underwriters in the U.S. said they considered people who are 60 to 65 years old in the older age group. Lynn Ruezinsky, associate actuary with Metlife, said in a life insurance workshop that the maximum was age 80 in the 2000 survey, but age 85 in the 2006 survey. Ruezinsky's data came from a survey of key chief underwriters about older age underwriting. Τράπεζα της Ελλάδος Βιβλιοθήκη, Εποπτεία ασφαλιστικού κλάδου (Actuaries in insurance), Οκτώβριος

9 On a Dividend Strategy of Insurance Companies Author: Potocky, Rastislav Author Affiliation: FMPI Comenius U Source: Ekonomie a Management, 2008, v. 11, iss. 4, pp Publication Date: 2008 Abstract: The problem of finding the optimal dividend strategy is very important for insurance companies. In order to solve this problem, a discounted cash flow model has been used which is a special case of valuation models. We analyse the surplus of an insurance company with attention focused on probability of ruin. The usual strategy of insurers to allow the surplus to go to infinity in order to avoid ruin has been criticised by several economists (De Finetti and others) as too conservative. In the paper, we discuss the so-called barrier strategy for treating the surplus of an insurance company and show how dividends are paid out in the case the surplus is greater than a predetermined value of the barrier. We present the expected discounted sum of dividends and show for which value of the barrier this sum will attain the greatest value. In the first part of the paper, the problem is analysed in details provided that claims are exponentially distributed. The purpose of the paper is to solve the same situation, however, for the so-called large claims. It is well known that the ruin problem which is closely related to the dividend strategy problem leads to different results for such claims. On the other hand, insurance companies are now confronted with such claims more often than before. Let us mention catastrophic floods, earthquakes, etc., which cannot be modelled by exponential and similar distributions. The problem of non-identically distributed claims is also treated. The last section of the paper deals with the question how the dividend strategy should be changed after ruin happens. A solution is mentioned suggested by several actuaries that instead of maximizing the expected discounted sum of dividends the difference between them and the deficit at ruin should be maximized. At the end, our attention is paid to the questions of parameter estimation and the choice of a proper claim distribution. Πηγή: EconLit with Full Text Want to Be in a Health Plan? Think Like One. By: Den Bos, Jill Van. Pharmaceutical Executive, May2008, Vol. 28 Issue 5, p36-38, 2p Abstract: The article reports on the benefits of pharmacoactuarial analysis to drug companies in the U.S. The analysis produces economic models that help them communicate the value of treatment to health plans as well as meet the guidelines of the Academy of Managed Care Pharmacy (AMCP). The models incorporate actuarial inputs or techniques in the assessment of per-member per-month (PMPM) cost adequate to the premium that covers the claims and other expenses. Τράπεζα της Ελλάδος Βιβλιοθήκη, Εποπτεία ασφαλιστικού κλάδου (Actuaries in insurance), Οκτώβριος

10 Άρθρα από ABI / INFORM Complete 2010 ACA calls for meeting with Webb to discuss Bill Cheek, Sebastian. Professional Pensions(Jun 17, 2010):7 Actuaries Support Federal Systemic Risk Regulator, Anticipate Significant Role for State Insurance Regulators Anonymous. PR Newswire [New York] 05 May 2010 Allianz Life's Dave Sandberg Named President-Elect of American Academy of Actuaries Anonymous. Business Wire [New York] 07 Oct 2010 American Academy of Actuaries; Actuaries Support Federal Systemic Risk Regulator, Anticipate Significant Role for State Insurance Regulators Anonymous. Investment Weekly News(May 22, 2010) CERA: (Out) Running The Risk Gorski, Dennis. Best's Review (May 2010):52-53 Department of Insurance begins reviewing rate filings Bobby Caina Calvan. McClatchy - Tribune Business News [Washington] 16 June 2010 Market Share for Top-Ranking Firms Remains Steady in 2008 Demyanovich, Carol; King, Carole Ann. Best's Review (Jan 2010):27-28 MODELING AND EVALUATING INSURANCE LOSSES VIA MIXTURES OF ERLANG DISTRIBUTIONS Lee, Simon C K; Lin, X Sheldon. North American Actuarial Journal (2010): Pension outlook not as bleak as expected Harder, Danielle. Canadian HR Reporter (Feb 8, 2010):1,15 Safe and Sound Bennett, Nancy. Best's Review (Jan 2010):70-72 Τράπεζα της Ελλάδος Βιβλιοθήκη, Εποπτεία ασφαλιστικού κλάδου (Actuaries in insurance), Οκτώβριος

11 2009 Actuarial merger plans are halted as crucial vote fails Towler, Jenna. Professional Pensions(Jul 30, 2009):6 Actuaries urged to back DB risk sharing Dunkley, Emma. Professional Pensions(Mar 26, 2009):4 THE BEVERIDGE REPORT Beveridge, Alex. Professional Pensions(Feb 12, 2009):6 Dynamic Financial Analysis in the Insurance Industry Shiu, Yung-ming. Geneva Papers on Risk & Insurance (Apr 2009): External Actuary Use Grows While Top Four Auditors Claim 72.4% of Market Klinger, Stephen Brown. Best's Review (Jan 2009):65-67 FAST MOVING ACTUARY Anonymous. Professional Pensions (Aug 13, 2009):19 FAST MOVING ACTUARY Anonymous. Professional Pensions (Jun 4, 2009):28 Financial Assistance Scheme row Towler, Jenna. Professional Pensions(Apr 9, 2009):3 HACL fined 875,000 for data loss Legorano, Giovanni. Professional Pensions(Aug 27, 2009):18 Inside Information Chordas, Lori. Best's Review (Jul 2009):68-72 POB seeks additional quality assurance Stapleton, Jonathan. Professional Pensions(Jan 15, 2009):8 Rebel actuaries suffer setback over merger Towler, Jenna. Professional Pensions(Jul 2, 2009):3 Rebel actuaries to hold crisis meeting ahead of merger vote Towler, Jenna. Professional Pensions(Jun 18, 2009):1 Scope of FSA penalties on the increase Stapleton, Jonathan. Professional Pensions(Aug 27, 2009):18 STRATEGIES FOR DIVIDEND DISTRIBUTION: A REVIEW Avanzi, Benjamin. North American Actuarial Journal (2009): Τράπεζα της Ελλάδος Βιβλιοθήκη, Εποπτεία ασφαλιστικού κλάδου (Actuaries in insurance), Οκτώβριος

12 2008 ACTUARIAL INSIGHT INTO ERM Moody, Michael J, MBA, ARM. Rough Notes (May 2008):38-39 Adjust 17 Davison, David. Financial Management (Nov 2008):16 AN 'ASOP' FABLE: THE ILLUSION OF MARKET VALUE Findlay, Gary. Pensions & Investments (Nov 10, 2008):12,35. A.M. Best Co.; A.M. Best Special Report: Trend in Use of External Actuaries Increases in a Monopolistic Market Anonymous. Investment Weekly News (Nov 8, 2008) A.M. Best Special Report: Trend in Use of External Actuaries Increases in a Monopolistic Market Anonymous. Business Wire [New York] 22 Oct 2008 "Asset Allocation with Hedge Funds on the Menu," Phelim Boyle and Sun Siang Liew, October 2007 Siu, Tak Kuen. North American Actuarial Journal (Apr 2008): Client relations set actuaries apart Miner, William J. Business Insurance (Mar 17, 2008): Conseco, Inc.; Farley Joins Conseco as Senior Vice President, Annuity and Life Actuary Anonymous. Business & Finance Week (Jun 23, 2008) Current affairs: Setting standards for best practice Anonymous. PensionsWeek(Jun 16, 2008):n/a. DISEASE MANAGEMENT value continues to grow Lewis, Al. Managed Healthcare Executive (Sep 2008):2 Farley Joins Conseco as Senior Vice President, Annuity and Life Actuary Anonymous. PR Newswire [New York] 12 June 2008 How the CMI sprang to life Investors Chronicle(Feb 27, 2008):n/a. Insurance Auditors and Actuaries Of North America-2008 Klinger, Stephen Brown. Best's Review (Jan 2008):75. Parks Accepts Gavel to Lead American Academy of Actuaries, Schobel to Follow Anonymous. PR Newswire [New York] 28 Oct 2008 Τράπεζα της Ελλάδος Βιβλιοθήκη, Εποπτεία ασφαλιστικού κλάδου (Actuaries in insurance), Οκτώβριος

13 Pioneers of Financial Economics. Volume 2: Twentieth-Century Contributions Shiu, Elias S W, ASA, PhD. North American Actuarial Journal (Jul 2008):343. PPA's Single-Employer Funding Rules-You Can't Leave Them to the Plan's Actuary Sirkin, Stuart A. Journal of Deferred Compensation (Spring 2008):1-35. PREDICTIVE MODELING OF COSTS FOR A CHRONIC DISEASE WITH ACUTE HIGH-COST EPISODES Rosenberg, Marjorie A; Farrell, Philip M. North American Actuarial Journal (Jan 2008):1-18. THE PRICING OF CREDIT DEFAULT SWAPS UNDER A MARKOV-MODULATED MERTON'S STRUCTURAL MODEL Siu, Tak Kuen; Erlwein, Christina; Mamon, Rogemar S. North American Actuarial Journal (Jan 2008): SOA sees rewards of taking risk on PR Brune, Adrian. PRweek (Feb 4, 2008):7. Τράπεζα της Ελλάδος Βιβλιοθήκη, Εποπτεία ασφαλιστικού κλάδου (Actuaries in insurance), Οκτώβριος

14 Άρθρα από Factiva Factiva Dow Jones 2010 Allianz Life's Dave Sandberg Appointed President-Elect of American Academy of Actuaries Health & Beauty Close-Up, 11 October 2010, 273 words, (English) Allianz Life Insurance Company of North America announced that David Sandberg, VP and corporate actuary, was elected president-elect for the American Academy of Actuaries by its board of directors. A.M. Best Co. A.M. Best Releases 2010 Best's Directories of Recommended Insurance Attorneys and Adjusters Insurance Weekly News, 29 January 2010, 246 words, (English) 2010 JAN 29 - (VerticalNews.com) -- A.M. Best Co. has released the 2010 print edition of Best's Directories of Recommended Insurance Attorneys and Adjusters. For over 80 years, the Directories series has been the premier reference tool for... A.M. Best Releases 2010 Best's Directories of Recommended Insurance Attorneys and Adjusters Business Wire, 19:55, 11 January 2010, 236 words, (English) OLDWICK, N.J. - (BUSINESS WIRE) - A.M. Best Co. has released the 2010 print edition of Best's Directories of Recommended Insurance Attorneys and Adjusters. For over 80 years, the Directories series has been the premier reference tool for... THE FIRST ISSUE OF "ACTUARY" OF ARMENIAN ASSOCIATION OF ACTUARIES WAS PUBLISHED ARKA - News (Armenia), 15 March 2010, 193 words, (English) INSURANCE YEREVAN, March 15. /ARKA/. Presentation of first issue of specialized journal "Actuary" for the specialists of mathematical insurance statistics studying development of scientific methods of insurance tariff calculation, rates and... IRDA CLEARS IPO GUIDELINES; SEBI NOD EXPECTED SHORTLY (IRDA has come out with valuation norms for the insurers in consultation with the... Indian Business Insight, 12 July 2010, 106 words, (English) The Insurance Regulatory and Development Authority (IRDA) has finalised the initial public offering (IPO) guidelines for insurance companies. IRDA has referred the guidelines to Securities and Exchange Board of India (SEBI) for final... IRDA CLEARS IPO RULES FOR INSURERS (referred to capital market regulator for approval) Indian Business Insight, 12 July 2010, 84 words, (English) The Insurance Regulatory and Development Authority has finalised the guidelines for initial public offerings by insurance companies and referred the rules to the Securities and Exchange Board of India for approval. The valuation norms for... SIX INSURANCE COMPANY EXECS PASS APPRAISAL BY STATE INSURANCE SUPERVISION SERVICE Azer-Press (Azerbaijan), 15 February 2010, 155 words, (English) Economics BAKU, 15 FEBRUARY, AZER PRESS. The 9 execs of 6 local insurance companies passed the professional appraisal by the State Insurance Supervision Service of the ministry of finance clearing them for leading managerial positions in... Τράπεζα της Ελλάδος Βιβλιοθήκη, Εποπτεία ασφαλιστικού κλάδου (Actuaries in insurance), Οκτώβριος

15 2009 Actuaries have fun with a little grease Australian Financial Review (Abstracts), 1 September 2009, 96 words, (English) Kaise Stephan, chief actuary at reinsurer Munich Re trained for 2 and a half years before swimming through the English Channel. He raised $160,000 for the oncology unit at the Children's Hospital at Westmead, and is expected to win the... Eckler Ltd. Signs Multi-Year Deal for ADVISE( ) and GEMS( ) Solutions from DFA ; Cites Integration of Economic Modeling and Insurance... Business Wire, 15:00, 15 December 2009, 618 words, (English) PURCHASE, N.Y. & COLOGNE, Germany - (BUSINESS WIRE) - DFA Capital Management Inc. (DFA), a leading provider of Enterprise Risk Management (ERM) solutions, today announced that Eckler Ltd., a leading Canadian-based consulting and... Eckler signs multi-year contract with DFA Capital Management Datamonitor News and Comment, 17:25, 16 December 2009, 195 words, (English) Eckler, a Canadian consulting and actuarial firm, has signed a multi-year contract with DFA Capital Management for its GEMS Economic Scenario Generator and Advise Advanced Stochastic modeling platforms. Insurance Recruiters Best's Review, 1 April 2009, 2339 words, (English) (Best's Review) - AJC Search Associates Ltd., 15 Grand Ave., Baldwin, NY Jay Cohen; jay@ajcsearch.com; Phone: ; Expertise: Actuaries, Pension Attorneys, Insurance Brokerage Producers and Account Managers. Irda sees greater role for actuaries in risk firms ; The Insurance Regulatory and Development Authority (Irda) has called for... Business Standard, 18 August 2009, 178 words, (English) The Insurance Regulatory and Development Authority (Irda) has called for a greater role for actuaries in general insurance companies and has said that the financial viability of all products must be certified by them. Motor takaful - The reality of underwriting motor insurance business in Bahrain Middle East Insurance Review, 1 November 2009, 1579 words, (English) Are direct insurers underwriting or undercutting the motor insurance business in Bahrain? This is a question posed by Mr Prakash Bhawnani, Assistant General Manager of Solidarity Takaful, as he examines increasing losses in the sector. Official wants to make owners responsible for insurers' violations Prime-TASS News (Russia), 18:14, 15 July 2009, 99 words, (English) MOSCOW, Jul 15 (Prime-Tass) -- Alexander Koval, head of Russia's Federal Service for Insurance Oversight, proposed Wednesday passing a law making shareholders of insurance companies responsible for violations made by these companies. Pakistan: Actuary shortage haunts Indian insurers The Financial Daily, 5 October 2009, 297 words, (English) NEW DELHI: The lack of actuaries in insurance companies in India, especially in the non-life insurance sector, could mean that premiums are incorrectly fixed, resulting in heavy underwriting losses, according to the media Factiva, Inc. All rights reserved. Τράπεζα της Ελλάδος Βιβλιοθήκη, Εποπτεία ασφαλιστικού κλάδου (Actuaries in insurance), Οκτώβριος