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Risk Transfer Overview

Risk Transfer Overview. Casualty Actuarial Society – Washington, D.C. September 18-19, 2008 Thomas Le, FCAS, MAAA. Panelists. Thomas Le Ian Sterling Holly Ownby Kevin Owens. Overview. FAS 113/SSAP 62 Decision tree and modeling mechanics Accounting determination Tax considerations.

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Risk Transfer Overview

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  1. Risk Transfer Overview Casualty Actuarial Society – Washington, D.C. September 18-19, 2008 Thomas Le, FCAS, MAAA

  2. Panelists • Thomas Le • Ian Sterling • Holly Ownby • Kevin Owens

  3. Overview • FAS 113/SSAP 62 • Decision tree and modeling mechanics • Accounting determination • Tax considerations

  4. Historical Context • Bermuda & Finite Reinsurance • Unlocking the discount in reserves • Book was very profitable • “Bells and whistles” • Accounting world took notice

  5. Accounting Interpretation • What does it mean to pass risk transfer? • Cocktail napkin • Actuaries perform the analytics • Accountants make the determination

  6. Other applications • Confidence intervals • Pricing of insurance coverage • Transfer pricing

  7. Panelists Thomas Le 215-841-0503 tom.le@ey.com Ian Sterling 215-448-5868 ian.sterling@ey.com Holly Ownby 212-773-4279 holly.ownby@ey.com Kevin Owens 202-327-8828 kevin.owens@ey.com

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