1,721,023 research outputs found

    Market Based Tools for Managing the Life Insurance Company

    No full text
    In this paper we present an approach to market based valuation of life insurance policies, in the spirit of the NUMAT proposed by Hans Buehlmann (2002) in an editorial in the ASTIN Bulletin. We have experienced the valuation method for more than one decade, both as a pricing procedure applied to policy portfolios of leading insurance companies, and by including the valuation principles into several actuarial teaching activities. Our interest is mainly focused here on participating policies that in Italy are characterized by contractually binding profit sharing rules. The problem of the fair valuation of the liabilities generated to the insurer by these contracts can be conveniently addressed using the methods of contingent claims pricing. These allow to price correctly the options embedded into the policies and to implement consistent plans of asset-liability management. The approach also provides a market based measurement of the value of business in force for outstanding policy portfolios and consistent assessments of the financial risk based capitals

    Bilateral Rupture of the Palmar Carpal Ligament in a Horse Suffering from Acute Diaphragmatic Hernia

    No full text
    A 20-year-old Argentinian gelding was evaluated for sudden weakness, muscular tremors, tachypnea, and reluctance to move. On admission, a mild bilateral hyperextension of the carpi was noticed. On the basis of the clinical, laboratory, and ultrasonographic !ndings, a diagnosis of diaphragmatic hernia was made. During con!nement, the hyperextension of the carpi worsened. Because radiographic examination of both carpi revealed palmar-lateral diastasis of the accessory carpal bone, bilateral rupture of the palmar carpal ligament (PCL) was suspected. Gross pathology con!rmed the diaphragmatic hernia and the bilateral rupture of the PCL. Rupture of a PCL in a horse has been previously described, and conformation of the forelimb of that horse was similar to that of the horse in the case described in this article
    corecore