Holtan Awarded the 2005 Hachemeister Prize
Holtan is the pricing manager at IF Property/Casualty Company, in Oslo, Norway, and a member of Den Norske Aktuarforening (Norwegian Actuarial Society). His paper is available for review.
Holtan's paper was cited for helping bridge the gap between financial economics and insurance pricing and for recognizing that options pricing and insurance pricing are two different approaches that financial institutions use to price the transfer of risk. By developing an options pricing framework for the insurance market, Holtan was able to highlight for future researchers both the opportunities and challenges in attempting to reconcile these different approaches.
A committee appointed by the CAS evaluates and judges papers for the Hachemeister Prize. Winning papers are selected based on their impact for North American actuaries, as well as practicality of application and readability.
Award recipients receive $1,000 and an invitation to present the paper at the CAS Spring or Annual Meeting. Holtan will present his paper at the 2006 CAS Spring Meeting scheduled for May 7-10, 2006 in Puerto Rico.
The Charles A. Hachemeister Prize was established by the CAS in 1993 in recognition of Hachemeister's many contributions to ASTIN and his efforts to establish a closer relationship between the CAS and ASTIN. Papers eligible for the prize include papers published in the ASTIN Bulletin, as well as papers presented at the ASTIN Colloquium. Past award winners, with links to the full text of papers where available, can be found online.