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Search: Posts Made By: eagle_halo
Forum: Careers - Employment 02-20-2014, 03:30 AM
Replies: 18
Views: 1,628
Posted By eagle_halo
Send me your contact through PM, I used to live...

Send me your contact through PM, I used to live in the US and now I am back to Hong Kong. I can give you some ideas of where you may like.
Forum: Finance - Investments 02-11-2014, 01:22 AM
Replies: 3
Views: 1,255
Posted By eagle_halo
You need to be more specific about what is...

You need to be more specific about what is "credit default" risk.

Like the other topic I responded, credit risk is generally broken down into the following three types:

1. Spread widening
2....
Forum: Careers - Employment 02-10-2014, 10:45 PM
Replies: 75
Views: 8,151
Posted By eagle_halo
This thread seems to me like one group of...

This thread seems to me like one group of generation Y complains the system is not fair because exam passers make up of unproportionally large amount of Chinese (or Asian), then another group of...
Forum: General Actuarial 02-01-2014, 07:25 AM
Replies: 3
Views: 899
Posted By eagle_halo
It is the other way around. It was CEIOPS then...

It is the other way around. It was CEIOPS then became EIOPA.

Two sources:
1. QIS5 technical guidance
2. Final Level 2 text
Forum: Life 01-28-2014, 05:20 AM
Replies: 1
Views: 1,471
Posted By eagle_halo
Not sure if I understand your question: I think...

Not sure if I understand your question: I think what you are saying is that assigning a higher capital charge to bonds that have higher duration is not accurate because the scope of the horizon is...
Forum: Life 01-28-2014, 04:48 AM
Replies: 8
Views: 3,060
Posted By eagle_halo
I want to be absolutely clear on this: it is not...

I want to be absolutely clear on this: it is not "transferring a risk to policyholder that he doesn't get paid for", it is "transferring a return to policyholder that he didn't get charge for".
...
Forum: Life 01-16-2014, 04:59 AM
Replies: 5
Views: 1,605
Posted By eagle_halo
You should fire your asset management team if...

You should fire your asset management team if they cannot match it. ;)
Forum: Life 01-16-2014, 04:56 AM
Replies: 8
Views: 3,060
Posted By eagle_halo
The Solvency II philosophy is very different from...

The Solvency II philosophy is very different from what you have just explained there.

In the SII framework, you are supposed to discount liability cash flow with your local risk free curve and...
Forum: Finance - Investments 08-12-2013, 01:33 PM
Replies: 10
Views: 5,119
Posted By eagle_halo
Guys, Open up the annual report of your...

Guys,

Open up the annual report of your company, go to the capital structure page (or "borrowing") and identify any non-senior borrowing, they are the fix paying lower quality capital in your...
Forum: Finance - Investments 08-08-2013, 01:31 PM
Replies: 10
Views: 5,119
Posted By eagle_halo
From my experience, US and European firms use...

From my experience, US and European firms use low-teens as hurdle and the more undeveloped countries you go, the higher the hurdle. I have seen as high as 20% for some countries.

It does not and...
Forum: Life 08-20-2012, 05:14 PM
Replies: 7
Views: 2,582
Posted By eagle_halo
I think you need to do some homework before you...

I think you need to do some homework before you ask questions. If you want to know detail, you can read this,

Solvency I text,...
Forum: Life 08-19-2012, 01:03 PM
Replies: 7
Views: 2,582
Posted By eagle_halo
It is true except the unique crisis we had in...

It is true except the unique crisis we had in 2008 involve lowering interest rate with blowing up credit spread. As long as your investment portfolio has some kind of risky assets (which is highly...
Forum: Finance - Investments 08-18-2012, 11:35 AM
Replies: 1
Views: 2,409
Posted By eagle_halo
I am not sure if this is the right way to look at...

I am not sure if this is the right way to look at cost/return of capital.

If you just want to look at return on capital for your asset portfolio only, then all you need to do is to determine what...
Forum: General Actuarial 08-18-2012, 10:46 AM
Replies: 12
Views: 3,119
Posted By eagle_halo
This is correct. Perhaps the closest definition...

This is correct. Perhaps the closest definition in statutory accounting that is comparable to own funds is "available capital". If you assume an insurance company is 100% funded by equity, then own...
Forum: Life 08-18-2012, 08:36 AM
Replies: 7
Views: 2,582
Posted By eagle_halo
It is bad because Solvency II calls for market...

It is bad because Solvency II calls for market valuation on assets and liabilities. Let's say we are in the financial crisis again. Asset value drops 30-40% and interest rate is in all time low. This...
Forum: Life 08-18-2012, 07:39 AM
Replies: 9
Views: 4,798
Posted By eagle_halo
Yes I am talking about the interest scenario in...

Yes I am talking about the interest scenario in the model. It can impact the market value of the asset as well as the reinvestment yield when your assets mature before the liabilities.

you can...
Forum: Life 08-13-2012, 05:48 PM
Replies: 9
Views: 4,798
Posted By eagle_halo
Yield is the discount rate you use to get the...

Yield is the discount rate you use to get the asset cash flow to the market value of asset. As market value of asset drops, yield goes higher and vice versa. In a pure return on capital perspective,...
Forum: Life 08-13-2012, 05:39 PM
Replies: 7
Views: 2,582
Posted By eagle_halo
SII implementation has been moved to Jan 2014. ...

SII implementation has been moved to Jan 2014.

Impact to life insurers from the US? Sell their European business.
Impact to life insurers from the Europe? Sell their US business.
It sucks,...
Forum: Careers - Employment 08-13-2012, 05:32 PM
Replies: 1
Views: 1,151
Posted By eagle_halo
There are opportunities for actuaries in the ILS...

There are opportunities for actuaries in the ILS market, generally they look for people with valuation and reinsurance experience, most likely with XXX or AXXX background. Not much opportunities if...
Forum: Life 08-07-2012, 05:35 PM
Replies: 9
Views: 4,798
Posted By eagle_halo
I would start with capital. You first use a...

I would start with capital. You first use a random strategy to see what is the total required capital for the whole book of business. Then you try to adjust your asset portfolio to determine a...
Forum: General Actuarial 08-07-2012, 05:13 PM
Replies: 12
Views: 3,119
Posted By eagle_halo
Own Funds is analogous to available capital (the...

Own Funds is analogous to available capital (the amount of asset plus capital instruments over the total liabilities) in other capital regimes. Available capital can take the form of shareholder...
Forum: Careers - Employment 06-16-2012, 01:10 PM
Replies: 20
Views: 4,151
Posted By eagle_halo
I would speculate that any company who offers him...

I would speculate that any company who offers him a job with actuarial program support are the one who is interested in his accounting experience than anything else. For example, your friend might be...
Forum: Life 06-14-2012, 06:47 AM
Replies: 11
Views: 5,025
Posted By eagle_halo
You need to give us more clarity on what you...

You need to give us more clarity on what you meant by solvency reserve. I work in Europe, so when someone talk to me about "solvency reserve" then I would assume it is the reserve requirement under...
Forum: Life 06-14-2012, 06:08 AM
Replies: 11
Views: 5,025
Posted By eagle_halo
May I add one more detail for the OP: The reason...

May I add one more detail for the OP: The reason why you pick the max is because you manage your company on the most onerous level of capital among all three regimes. Depending on type of businesses,...
Forum: General Actuarial 05-31-2012, 12:17 PM
Replies: 52
Views: 27,994
Posted By eagle_halo
I don't really see your point here. Are you...

I don't really see your point here. Are you trying to imply that any FSA is at least as suitable for a job as any CFAs out there (except those positions that need sales skill)?

Perhaps I am...
Showing results 1 to 25 of 300

 

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