Actuarial Outpost
 
Go Back   Actuarial Outpost > Actuarial Discussion Forum > General Actuarial
FlashChat Actuarial Discussion Preliminary Exams CAS/SOA Exams Cyberchat Around the World Suggestions

Browse Open Actuarial Jobs

Life  Health  Casualty  Pension  Entry Level  All Jobs  Salaries


General Actuarial Non-Specific Actuarial Topics - Before posting a thread, please browse over our other sections to see if there is a better fit, such as Careers - Employment, Actuarial Science Universities Forum or any of our other 100+ forums.

Reply
 
Thread Tools Search this Thread Display Modes
  #1  
Old 11-01-2017, 03:14 PM
Lenin Lenin is offline
Member
SOA
 
Join Date: Jul 2012
Location: Europa
Studying for ERM
Favorite beer: Free
Posts: 82
Default Reinsurance textbooks

Could you please recommend a reinsurance textbook or some other comprehensive study materials on complex reinsurance treaties, meaning not plain XL/QS treaties but rather retroactive reinsurance when reserves are returned at a later point to the insurer, finite reinsurance, treaties on the edge of no risk transfer etc...? It would be helpful if they have some examples explained.
Reply With Quote
  #2  
Old 11-01-2017, 03:16 PM
JMO's Avatar
JMO JMO is offline
Carol Marler
Non-Actuary
 
Join Date: Sep 2001
Location: Back home again in Indiana
Studying for Nothing actuarial.
Posts: 37,416
Default

The only reinsurance book I know of is the one by Tiller & Tiller. It goes beyond XL/QS, but I don't know whether it covers the stuff you are asking about. Have you searched soa.org?
__________________
Carol Marler, "Just My Opinion"

Pluto is no longer a planet and I am no longer an actuary. Please take my opinions as non-actuarial.


My latest favorite quotes, updated Apr 5, 2018.

Spoiler:
I should keep these four permanently.
Quote:
Originally Posted by rekrap View Post
JMO is right
Quote:
Originally Posted by campbell View Post
I agree with JMO.
Quote:
Originally Posted by Westley View Post
And def agree w/ JMO.
Quote:
Originally Posted by MG View Post
This. And everything else JMO wrote.
And this all purpose permanent quote:
Quote:
Originally Posted by Dr T Non-Fan View Post
Yup, it is always someone else's fault.
MORE:
All purpose response for careers forum:
Quote:
Originally Posted by DoctorNo View Post
Depends upon the employer and the situation.
Quote:
Originally Posted by Sredni Vashtar View Post
I feel like ERM is 90% buzzwords, and that the underlying agenda is to make sure at least one of your Corporate Officers is not dumb.
Reply With Quote
  #3  
Old 11-01-2017, 03:22 PM
SlowMotionWalter's Avatar
SlowMotionWalter SlowMotionWalter is offline
Member
CAS
 
Join Date: Jun 2013
Posts: 12,328
Default

This is a good RE paper. I can't say how relevant it is since it's been awhile since i've read it. Ctrl+Fing shows it does go in to retrospective rating to some degree.

http://www.casact.org/library/studynotes/ch7.pdf
__________________
Quote:
Originally Posted by bigb View Post
You should learn to communicate in a serious manner before you expect a serious answer.
Spoiler:
Quote:
Originally Posted by Kangaz wit Attitude View Post
Force of habit, 2pac's been typing "88" a LOT since Trump got elected.
Quote:
Originally Posted by JMO View Post
You ought to see the bush. It's impressive.
Quote:
Originally Posted by Pikachu
10:53 pm: some ppl dont take advices well
Quote:
Originally Posted by mayo fan
9:45 pm: ao fan would be hot covered in mayo!
Quote:
Originally Posted by Snikelfritz
if you'd like I can come visit and dress up like a girl and get in some fights
Quote:
Originally Posted by Kaner3339 View Post
i think everyone needs to do this type of thing to get a dose of reality and straighten people up. it's kinda like going to the mountains and becoming a monk except it's with hundreds of potatoes and a lot of stoners with tattoos in a kitchen
Reply With Quote
  #4  
Old 11-01-2017, 04:35 PM
Abelian Grape's Avatar
Abelian Grape Abelian Grape is offline
Meme-ber                         Meme-ber
CAS
 
Join Date: Jul 2014
Posts: 41,247
Default

It seems like you're more interested in reinsurance structures that have special statutory accounting treatments?

The CAS website is down for me right now, but take a look at the Exam 6US syllabus, which has references to papers that cover such transactions.
Reply With Quote
  #5  
Old 11-02-2017, 11:41 AM
Lenin Lenin is offline
Member
SOA
 
Join Date: Jul 2012
Location: Europa
Studying for ERM
Favorite beer: Free
Posts: 82
Default

Thanks for your replies.
I found such treaties difficult to understand due to the wording and because they contain many features that are tailored on the insurers' requests. And precisely for that, my intuition says they are used for dishonest purposes i.e. they are on purpose incorrectly reflected in the financial statements or in the solvency requirements. However, it is hard to argue that they are not correctly accounted for when the treaties have unique features, the impact is pervasive and no reference can be made to accepted literature.
Reply With Quote
  #6  
Old 11-02-2017, 11:56 PM
Arlie_Proctor Arlie_Proctor is offline
Member
CAS AAA
 
Join Date: Dec 2001
Location: N.J.
College: Indiana University
Favorite beer: Becks
Posts: 1,181
Default

The world of reinsurance is very different from the world of primary insurance. Every contract is unique and negotiated among parties with specific aims and expertise.
Reply With Quote
  #7  
Old 11-03-2017, 08:40 PM
PAC PAC is offline
Member
CAS AAA
 
Join Date: Jan 2003
Posts: 237
Default

Quote:
Originally Posted by Arlie_Proctor View Post
The world of reinsurance is very different from the world of primary insurance. Every contract is unique and negotiated among parties with specific aims and expertise.


There are accounting systems and rules, and there are laws, rules, and regulations.

The intersection of the two can be complex, not easily understood, and nonetheless completely honest, ethical, moral, and legal.
Reply With Quote
  #8  
Old 11-05-2017, 09:28 AM
PeppermintPatty's Avatar
PeppermintPatty PeppermintPatty is offline
Member
CAS
 
Join Date: Sep 2001
Posts: 37,469
Default

Quote:
Originally Posted by PAC View Post


There are accounting systems and rules, and there are laws, rules, and regulations.

The intersection of the two can be complex, not easily understood, and nonetheless completely honest, ethical, moral, and legal.
Indeed. Reinsurance of this sort is something like life insurance. Some of the provisions provide real protection from unexpected losses that would be difficult to obtain in any other ways. Other provisions may provide more favorable tax treatment. I think the ratio of real protection to tax relief tends to be higher among complex reinsurance treaties than among life insurance policies, all in all. Both benefits are ordinarily honest, ethical, moral, and legallegal and ethical, however.
Reply With Quote
  #9  
Old 11-05-2017, 10:17 AM
Colonel Smoothie's Avatar
Colonel Smoothie Colonel Smoothie is online now
Member
CAS
 
Join Date: Sep 2010
College: Jamba Juice University
Favorite beer: AO Amber Ale
Posts: 47,505
Default

There's a book called "Reinsurance" by Strain that a coworker of mine had.

Other than that I don't know much about it, except that it's big... and a textbook.
__________________
Recommended Readings for the EL Actuary || Recommended Readings for the EB Actuary

Quote:
Originally Posted by Wigmeister General View Post
Don't you even think about sending me your resume. I'll turn it into an origami boulder and return it to you.
Reply With Quote
  #10  
Old 11-06-2017, 06:38 AM
Shaft's Avatar
Shaft Shaft is offline
Member
CAS SOA AAA
 
Join Date: Dec 2001
Posts: 1,608
Default

Quote:
Originally Posted by Colonel Smoothie View Post
There's a book called "Reinsurance" by Strain that a coworker of mine had.

Other than that I don't know much about it, except that it's big... and a textbook.
Reinsurance and Reinsurance Contract Wording (both by Robert Strain et al) are two classic reinsurance texts. Sadly they have not been updated recently.

Neither covers the meat of what you are asking for, Lenin.

It is hard to recommend any particular reading because there is so little. A lot of this type of finite risk transfer bit the dust in the 1990's.

This may be of general use, although it is dated.
Reply With Quote
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off


All times are GMT -4. The time now is 11:09 PM.


Powered by vBulletin®
Copyright ©2000 - 2018, Jelsoft Enterprises Ltd.
*PLEASE NOTE: Posts are not checked for accuracy, and do not
represent the views of the Actuarial Outpost or its sponsors.
Page generated in 0.40903 seconds with 11 queries