Actuarial Vacancies

Actuarial Studies

Actuarial Studies

The traditional formula used for analysis of surplus in the presence of a conservative valuation basis is compared to a similar formula used for analysis of profit under the margin on services valuation method using a realistic basis. Deficiencies of the former formula relative to the latter are noted. A revised formula is presented which overcomes these deficiencies while still allowing the us...

Actuarial Geometry

The literature on capital allocation is biased towards an asset modeling framework rather than an actuarial framework. The asset modeling framework leads to the proliferation of inappropriate assumptions about the effect of insurance line of business growth on aggregate loss distributions. This paper explains why an actuarial analog of the asset volume/return model should be based on a Lévy pro...

Actuarial Research Clearing House

This article introduces actuaries to the concept of "copulas," a tool for understanding relationships among multivariate outcomes. A copula is a function that links univariate marginals to their full multivariate distribution. Copulas were introduced in 1959 in the context of probabilistic metric spaces. Recently, there has been a rapidly developing literature on the statistical properties and ...

Actuarial implications of entitlement.

Americans are truly blessed to live in such a great nation. Social benefits that we consider to be entitlements are beyond the imagination of people in certain other parts of the world. Prosperity has not always been the case here; at the time of the Jamestown Settlement in the early 1600’s, John Smith ordered "He who will not work shall not eat." In the throes of the Great Depression, America ...