Facing the Consequences
The keynote speaker in the General Session is Mr. Peter Bernstein, President of Peter L. Bernstein, Inc.,
established in 1973 as economic consultants to institutional investors and corporations. He writes and publishes an analysis
of the capital markets and the real economy, Economics and Portfolio
Strategy, read by managers and owners of
assets amounting to more than five trillion dollars. Mr. Bernstein was the first editor of
The Journal of Portfolio Management, which started publication in 1974. He lectures in the United States and abroad and has written seven books
on economics and finance, with articles appearing regularly in professional journals and popular press. Mr. Bernstein
is the author of Against the Gods: The Remarkable Story of
Risk, which won the Edwin G. Booz Prize for the
most insightful, innovative management book published in 1996. In 1998, it won the Clarence Arthur Kelp/Elizur
Wright Memorial Award from The American Risk & Insurance Association (ARIA) in recognition of its
outstanding original contribution to the literature of risk and insurance. Mr. Bernstein's speech will address, among other
topics, his thoughts on the convergence of financial and insurance markets, and how this will impact the measurement
and management of risk.
Monday's Luncheon
The Dynamic Financial Analysis Committee (DFAC) is a research committee of the CAS charged with
providing direction, guidance, and support to the profession, regulators, and others regarding dynamic financial analysis
of property/casualty risks. The Valuation, Finance, and Investment Committee's (VFIC) focus is to identify
and research topics related to the financial reporting requirements and valuation of insurance operations.
DFAC Chair Charles Emma will provide status updates on some of the committee's most significant projects, as
well as present DFAC's recently completed comprehensive research handbook. Harvey Sherman, VFIC Committee
chair, will discuss the following VFIC activities:
- Survey of CFOs on the use of actuaries in M&A activities;
- Development of sample approaches to financial reporting regulations; and
- Testing of asset/liability matching requirements under different interest rate scenarios.
The chairs will then invite recommendations and questions from the audience.
