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  Discount Rates in Financial Reporting - A Practical Guide — The time value of money is significant to economics and in turn to the current value of projected cash flows. Recent decades have seen a growth of knowledge and available information in the areas of finance and capital markets. There still remains a need for more widespread understanding of the important aspects, from a conceptual perspective and the practical techniques relating to the discounting process in actuarial practice. The primary areas of application include financial reporting for insurance contracts and the financial reporting of pension/employee benefit plans. The objective of this monograph is to help fill this void. (Online Order Form)
  A guide for practitioners interested in understanding this important emerging field, Stochastic Modeling — Theory and Reality from an Actuarial Perspective presents the mathematical and statistical framework necessary to develop stochastic models in any setting (insurance or otherwise).  Sufficient mathematical detail is presented but no advanced background in mathematics or statistics is required. (Online Order Form)
Measurement of Liabilities for Insurance Contracts: Current Estimates and Risk Margins  
Measurement of Liabilities for Insurance Contracts: Current Estimates and Risk Margins — The ad hoc Risk Margin Working Group (RMWG) of the International Actuarial Association (IAA) has conducted research into the measurement of liabilities for insurance contracts that has resulted in this paper. The issues addressed are those that will help determine future practice for measuring liabilities for insurance contracts for both regulatory and general purpose financial reporting. It focuses on current estimates and risk margins, which the RMWG believes to be an appropriate basis for the measurement of liabilities for insurance contracts. During the course of this research the RMWG has sought and incorporated input from various stakeholders in the measurement of these liabilities. (Online Order Form)
ASTIN Bulletin - The Journal of the IAA  

The ASTIN Bulletin - The Journal of the IAA, is published twice a year. This is the internationally renowned, refereed scientific journal of the actuarial profession. The ASTIN Bulletin covers all aspects of actuarial and stochastic modelling practice, not just non-life insurance. Authors are encouraged to submit papers to the ASTIN Bulletin on topics of interest to any of the IAA Sections.

Papers for possible publication in ASTIN Bulletin should be submitted online at :

  A Global Framework for Insurer Solvency Assessment — This paper has been prepared for the International Association of Insurance Supervisors (IAIS) to explore the elements needed for an international capital standard for insurers and to provide a “best practices” approach available to all supervisors. It deals with methods the supervisor might use to assess the current financial position as well as to understand the range of possible future financial positions of insurers. Its primary focus is on capital requirements for insurers.(Online Order Form)

Publications of Interest

ASTIN Bulletin - The Journal of the IAA  

Encyclopedia of Actuarial Science — The Encyclopedia of Actuarial Science presents a timely and comprehensive body of knowledge designed to serve as an essential reference for the actuarial profession and all related business and financial activities, as well as researchers and students in actuarial science and related areas. Drawing on the experience of leading international editors and authors from industry and academic research the encyclopedia provides an authoritative exposition of both quantitative methods and practical aspects of actuarial science and insurance. The cross-disciplinary nature of the work is reflected not only in its coverage of key concepts from business, economics, risk, probability theory and statistics but also by the inclusion of supporting topics such as demography, genetics, operations research and informatics.

Published by Wiley - Jozef Teugels (Editor-in-Chief), Bjørn Sundt (Editor-in-Chief)