CAS Researcher Receives International Award

MAASTRICHT, The Netherlands—Shaun Wang was awarded the inaugural Bob Alting von Geusau Prize ($5,000 Canadian) at the 13th AFIR Colloquium, held here at September 17-19, 2003.

The 2003 Bob Alting von Geusau Prize was established to award the best contribution to the ASTIN Bulletin during 2001 and 2002 on a subject related to AFIR, which is a section of the International Actuarial Association dedicated to actuarial approaches for financial risks. Wang's paper, "A Universal Framework for Pricing Financial and Insurance Risks," proposes an actuarial pricing theory that has close links with CAPM and the Black-Scholes option-pricing formula. It provides a method for calculating fair value of liabilities. Gary Venter, who contributed earlier ideas to Wang's research, also presented at the 2003 AFIR meeting.

Wang's prize-winning paper is available for download.