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The history of today’s seminar… PowerPoint Presentation
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  1. Seminar on Market-consistent Valuation of Insurance ContractsOpening Remarks Joost Driessen (UvA and Netspar)

  2. The history of today’s seminar… • March 2005: Start of Netspar • National research network on pensions, aging, and retirement • Partners: Pension funds, banks, insurance companies, public sector and universities • December 2005: Netspar grants 1 million Euro to UvA to stimulate research in finance & insurance • The result: A new Amsterdam Center for Finance and Insurance (ACFI) at the UvA • Director: Prof. Antoon Pelsser

  3. Amsterdam Center for Finance and Insurance • Goal is to bridge the gap between finance and insurance • Academic research • Teaching • Interaction with practitioners • Current members: Prof. Antoon Pelsser, Prof. Peter Boswijk, Prof. Rob Kaas, Prof. Marc Goovaerts, Dr. Joost Driessen • 6 affiliated researchers • and 1 new Postdoc researcher and 2 new PhD students

  4. Bridging the Gap • The aim of the ACFI is to bridge the gap between finance and actuarial science • Market-consistent valuation of insurance and pension liabilities • ACFI also aims to bridge the gap between “academics” and “practitioners” • Translate theoretical concepts into practical “rules-of-thumb” for the industry (e.g. valuation rules) • Translate theoretical insights into practical advice (e.g. insights on optimal investment policies into ALM strategies)

  5. Amsterdam Center for Finance and Insurance • Activities • Academic research papers • Applied research papers • Workshops and seminars • Courses at UvA and Netspar’s Master’s program • Today’s seminar • Kick-off event • Organized jointly with the Actuarieel Genootschap

  6. Further information • Website (under development) www.feb.uva.nl/acfi • Netspar www.netspar.nl • Actuarieel Genootschap http://www.ag-ai.nl

  7. Program • 09.45 Hans Bühlmann / Mario Wüthrich: Multidimensional Actuarial Valuation • 11:00 Torsten Kleinow: Fair Valuation of With- Profit Insurance Contracts with Interest Rate Guarantees • 12:00 Lunch (foyer) • 13:00 Guus Boender / Hans Steehouwer: Market Consistent Asset and Liability Management • 14:00 John Hele: How the stock market may view market-consistent valuations • 15:00 Break (foyer) • 15:30 Niels Kortleve: Market-Consistent ALM for Pension Funds • 16:30 Antoon Pelsser: Utility-based Pricing of Insurance Contracts • 17:30 – 18.30 Drinks (foyer)