Casualty Actuarial Society

Professional Education

Economic Capital 201 – Aggregation of Risks and Allocation of Capital

June 15, 2010
12:00 – 1:30 pm (ET)

Registration is closed.

Webinar Presentations

Program Description

Building on the concept of Economic Capital as presented in the June 2009 webinar “Economic Capital 101 – A Primer on Economic Capital Issues for P.C. Insurers”, this session will first review the basic concepts and then focus on some of the challenges in aggregating risks from across the business and allocating diversified capital back to those business units. We will also discuss senior management’s uses of economic capital, specifically touching on the role of modeling in the firm’s Risk Appetite processes.

(While this webinar builds on EC 101, it is NOT a prerequisite, and a working knowledge of economic capital will NOT be assumed.)

Intended Audience

This session will be of greatest value to those who appreciate, that without capital allocation, economic capital cannot be used effectively in making business decisions, and those that have faced the challenges in allocating capital.

Speakers/Instructors

Tom McIntyre is a consulting actuary with Towers Watson. His areas of expertise include enterprise risk management (ERM), insurance asset management and economic capital analysis. Tom is a Fellow of the Casualty Actuarial Society, a Chartered Enterprise Risk Analyst, and a Member of the American Academy of Actuaries.

Matthew Peters is a senior manager at Allstate Insurance and is responsible for Enterprise Economic Capital Modeling and Analytics. While at Allstate, he has worked on enterprise risk management, economic capital, reinsurance, capital structure and mergers and acquisitions. Matt has a Bachelor of Arts in economics and an MBA in finance from Northwestern University.

*Tom and Matt presented the webinar “Economic Capital 101 – A Primer on Economic Capital Issues for P.C. Insurers” on June 4, 2009.

Registration Information and Fees

Registration Fees (U.S. Dollars) Received before
June 1, 2010
Received on/after
June 1, 2010
Individual Registration $50 $75
Multiple Registration (3 or more persons)*
Multiple registrations must use the same web and telephone connection.
$250 $300

*Multiple registrations must be using the same computer and telephone connection.
**In order for all attendees to receive educational credit, Multiple Registrations will need to provide a list of attendees to the CAS by listing names above or via email, meetings@casact.org.

CANCELATION/REFUNDS

Registrations fees will be refunded for cancellations received in writing at the CAS Office via fax, 703-276-3108, or email, refund@casact.org, by June 8, 2010 less a $50 processing fee.

Continuing Education Credit

For CAS members that are subject to the American Academy of Actuaries (AAA)'s Qualification Standards (including Continuing Education Requirements) for Actuaries Issuing Statements of Actuarial Opinion in the United States, this activity may qualify for a maximum of up to 1.8CE Credits*. CAS members subject to these Qualification Standards can earn up to 1 CE Credit per 50 minutes of relevant educational session time, not to include breaks and/or lunch. Please note that participating in a live event qualifies as an “organized activity” under those same Academy rules. It is an actuary’s responsibility to make a reasonable, good-faith determination of what CE opportunities will enhance his or her ability to practice in a desired field. Participants should only claim credit commensurate with the extent and length of their participation in the activity and their assessment of the job relevance of the activity. The AAA Qualification Standards provides a complete list of guidelines concerning continuing education. Actuaries attending a CAS event to satisfy AAA requirements should review all guidelines in that publication.

Precept 2 of the CAS Code of Professional Conduct states in part that, “An Actuary shall perform Actuarial Services only when the actuary is qualified to do so.” The AAA establishes qualification standards for statements of actuarial opinion in the United States of America. Those standards require that actuaries update and maintain knowledge of applicable principles of actuarial science and actuarial standards of practice through education and experience to include continuing education.

*The amount of CE credit which can be earned for participating in this activity must be assessed by the individual attendee. It also may be different for individuals that are subject to the requirements of organizations other than the American Academy of Actuaries.