Description: This report describes trends in asset allocation of major life insurers across eight Asian markets.

Description: “Global tactical asset allocation GTAA is an invest¬ment approach that seeks to exploit short-term mar¬ket inefficiencies to generate uncorrelated absolute returns by taking positions in various asset classes, regions, styles and currencies. Due to its low correlation with tradi¬tional asset classes, GTAA can diversify an existing portfolio without making material changes to the portfolio’s overall risk characteristics.”

Description: Explains the more granular breakout of bond RBC factors proposed to the NAIC. Evaluates alternative asset allocation choices for insurers under the new rules.

Description: French language version of Risk Management, August 2014 newsletter.

Description: As tariff policies are rapidly changing throughout 2025, the U.S. markets have been reacting in complex ways. In addressing the difference in short and long-term impacts of these policy changes, the importance of resilient and holistic risk management is highlighted in order for companies and investors to find opportunities and mitigate sudden losses.

Description: New Zealand is about to launch its first variable annuity with guaranteed lifetime withdrawal benefits. The product design is mindful of the lessons from the financial crisis in the United States, Europe and Japan.

Description: This abstract describes a paper that proposes a quantitative framework which jointly considers the endowment spending policy and the asset allocation decision a-la Markowitz.

Description: Complete issue of the August 2014 Risk Management newsletter.

Description: Abstract: A model for analyzing the probability and severity of default of sovereign entities and banks. The methodology analyzes the risks inherent in the investment of debt of sovereign governments and large financial institutions side-by-side, taking into consideration macroeconomic interactions among the sovereign fiscal and monetary authorities, the financial institutions, and the real economy. The signature aspect of the methodology is that it adapts a Merton-style default model to use explicit measures of sovereign assets and asset volatility.

Description: Editors discuss the articles in this issue.