Transcription of Asset Liability Management - actuaries
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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. It is also important to the operations of other types of insurers.
III. Key Elements of ALM: Measurement and Management of Risk Two key elements of ALM include: 1) measurement of the risk exposure and 2) management of the risk exposure. Measurement of the risk exposure can be done in a number of ways: 1. Calculating the sensitivity of the assets and liabilities7 to changes in financial variables.
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