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Seminar on Market-consistent Valuation of Insurance Contracts Opening Remarks Joost Driessen (UvA and Netspar)

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Presentation on theme: "Seminar on Market-consistent Valuation of Insurance Contracts Opening Remarks Joost Driessen (UvA and Netspar)"— Presentation transcript:

1 Seminar on Market-consistent Valuation of Insurance Contracts Opening 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) Netspar Actuarieel Genootschap

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


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