Asset Liability Management - actuaries

This paper has been produced and approved by the Insurance Regulation Committee of the IAA on 24 October 2016 2016 International Actuarial Association / Association Actuarielle Internationale IAA Risk Book Chapter 13 - Asset Liability Management Techniques and Practices for Insurance Companies Charles Gilbert 1. Executive Summary This chapter provides the reader with practical insights into ALM techniques and practices for insurance companies. Key messages include: 1. Insurance companies face various financial risks associated with assets backing Liability cash flows. How these risks are managed vary by company and jurisdiction and are largely influenced by the regulatory environment. 2. Asset Liability Management ( ALM ) is a fundamental element of life insurer strategy and operations.

managed. An important distinction must be made between ALM for property and casualty (“P&C “) and life insurance companies. For life insurers with longer duration liabilities, while the scope of ALM includes all financial risks associated with the assets and liabilities, interest rate risk is often the focus of ALM.

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  Liability, Management, Property, Casualty, Asset, Actuaries, Asset liability management

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