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Manajemen Umum


Ujian Gelar Profesional Keanggotaan AAMAI Sektor Asuransi Jiwa untuk tingkat Ahli, harus menempuh dan lulus 4 (empat) mata ujian serta satu pilihan Penyusunan Skripsi (Karya Tulis Ilmiah) dari beberapa pilihan yang ada, atau ujian Komprehensif tertulis. Penyusunan Skripsi mulai dapat dipersiapkan setelah Kandidat menempuh delapan dari sembilan mata ujian tersebut dan dinyatakan lulus.

Mata ujian yang diujikan :


AJ.06 : Dasar-dasar Matematika Asuransi Jiwa
AJ.07 : Manajemen SDM dan Sistim Informasi Manajemen
AJ.08 : Manajemen Keuangan dan Akuntansi Asuransi Jiwa
AJ.09 : Ekonomi dan Investasi Usaha Asuransi Jiwa
AJ.10 : Ujian Komprehensif tertulis atau
AJ.10 : Skripsi/Karya Tulis Ilmiah dengan Pilihan Tema Skripsi ( Karya Tulis Ilmiah ):
AJ.10.01 : manajemen Operasional Perusahaan Asuransi Jiwa
AJ.10.02 : Seleksi Risiko Asuransi Jiwa
AJ.10.03 : manajemen Pemasaran Asuransi Jiwa
AJ.10.04 : Sistem Informasi Manajemen
AJ.10.05 : Manajemen Sains
AJ.10.06 : Manajemen Sumber Daya Manusia
AJ.10.07 : Manajemen Keuangan
AJ.10.08 : Akuntansi Manajerial
AJ.10.09 : Asuransi Kumpulan
AJ.10.10 : Klaim Asuransi Jiwa
AJ.10.11 : Reasuransi
AJ.10.12 : Program Pensiun



Buku Wajib :
b. LIFE INSURANCE MATHEMATICS ; John Wiley & Sons Inc, New York.

Silabus :
1. The Mathematical Basis of Life Insurance : What is an Actuary ; The Actuarial department of a Life Insurance Company.
2. Fundamental of Mathematics : Arithmetical Calculations ; Fractions; Decimals; Common; Multiplier; Estimating; the answer; Equations; Exponents; Common Multipliers in Equations.
3. Accumulated Value. : Simple Accumulated Values; Accumulated Value at Compound Interest; Construction of Interest Accumulation Tables; Accumulating Money for Periods of Time of Less Than one Year; Nominal and Effective Interest Rates; Kinds of Annuities; The Accumulated Value of an Annuity Immediate; Construction and Use of Tables of s n i; The Accumulated Value of an Annuity Due; Sinking Fund Payments.
4. Present Values : Basic Concept; Present Values; Construction of Tables of Present Values; The Present Value of an Annuity Immediate; Construction and Use of Tables of a n i; The Present Value of an Annuity Due; Present Value of a Deferred Annuity; Amortization Payments; Purchase Price of a Coupon Bond; Annuities Payable More Frequently Than the Interest Conversion Period; Continuous Payments; Relationship Between Present Value and Accumulated Value.
5. Mortality Tables : Probability; Deriving Probabilities; Types of Mortality Tables; Structure of a mortality Tables; Construction of a Mortality Table: Probabilities of Living and Dying; Select and Ultimate Mortality Tables.
6. Life Annuities : Present Values of a Life Annuity; Accumulated Value of Life Annuities; Tables of Settlement Options; Commutation Functions-A Simpler Method of Calculation.
7. Life Insurance : Net Single Premiums : Net Single Premium of : One Year of Life Insurance; Term Insurance; Whole Life Insurance; Pure Endowment; Endowment Insurance. The Accumulated Cost of Insurance; Commutation Functions.
8. Life Insurance : Annual Premiums : Introduction; Net Annual Premiums for : Term Insurance; Whole Life Insurance; Endowment Insurance Relationships Between Net Premiums and Life Annuities; Commutation Functions; Gross Annual Premiums; Modified Net Premiums.
9. Life Insurance Reserve : Terminal Reserves; The Retrospective Method; The Prospective Method; Commutation functions; Patterns of Terminal Reserves; Effects of Changing Mortality or Interest Assumptions; Initial and Mean Reserves; Net Amount at Risk; Tabular cost of insurance; Premium Deficiency Reserves; Modified Reserves; GAAP Reserves; Asset Shares.
10. Non Forfeiture Values : Introduction; Cash Value; Reduced Paid-Up Insurance; Extended Term Insurance; Insurance Paid-Up or Matured by Dividends.
11. Dividends and Cost Comparisons : Three-Factor Contribution Method; Experience-Premium Method; Dividend Options; One-Year Term Dividend Option: Cost Comparison Methods.
12. Group Life Insurance : Types of Group Life Insurance; Premiums for Group Life Insurance; Reserves for Group Life Insurance; Dividends for Group Life Insurance; Cost Comparison for Group Life Insurance.
13. Health Insurance : Health Insurance Coverage; Individual Health Insurance Calculations; Group Health Insurance Calculations.


1. The Mortality Table : Definitions of Probability; Conclutions to be drawn from the definitions of probability; Mathematical Expectation; Theorems on probability; The Mortality Table; Sources and Characteristics of Mortality Tables; Notation; Expectation of Life; Identities.
2. Interest and Annuities Certain : Interest; Compound Interest; Annuity Certain .
3. Life Annuities : Introduction; Whole Life Annuity; Pure Endowment; Foreborne Annuity; General Annuity Formula .
4. Life Insurance : Term Insurance; Whole Life Insurance; Endowment Insurance; Annual Premiums; Various Algebraic Relations; Deferred Insurance; Accumulated Cost of Insurance; General Insurance Formula.
5. Net Level Reserves : Retrospective Reserve; Notation; Prospective Reserve; Fackler’s Method; Initial Reserve; Mean Reserve.
6. Advance Topics : Annuities Certain Payable Fractionally; Life Annuities Payable Fractionally; Increasing Life Annuities; Increasing Insurance.
7. Modified Reserves : Full Preliminary Term; Commissioners Reserve Valuation Method; Other Modified Reserve Methods; The Ohio Method; The Canadian Method; The Illinois Method; The Newjersey Method; The Select and Ultimate Method; Comparison between Commissioners Reserves and Illinois Standard Reserves.
8. Surrender Values : Asset Share; Ideal Cash Value; Adjusted Premiums; Reduced Paid-up and Extended Term Insurance.
9. Gross Premiums : Nonparticipating and Participating Policies; Participating Gross Premiums; Nonparticipating Gross Premiums; Mortality; Interest , Expenses.


Buku Wajib :
a. MANAGING HUMAN RESOURCES ; Arthur Sherman, George Bohlander, and Scott Snell ; 10th Edition; South Western College Publishing, Cincinnati, Ohio, 1996.
a. INFORMATION MANAGEMENT IN INSURANCE COMPANY; Life Management Institute LOMA, Atlanta, Georgia, 1995.

Silabus :

1. The Role of Human Resources Management : Development of Human Resources Management; Professionalization of Human Resources Management; Programs for Managing Human Resources; The Human Resources Department; Human Resources Management in the Future.
2. The Environment for Human Resources Management : Elements of an Organization’s Environment; Changes That Challenge Managers of Human Resources; Human Resources and Total Quality Management
3. Equal Employment Opportunity and Human Resources Management : Historical Perspective of EEO Legislation; Government Regulation of Equal Employment Opportunity; Other Equal Employment Opportunity Issues; Enforcing Equal Employment Opportunity Legislation; Affirmative Action.
4. Job Requirements : The Role and Importance of Jobs; Relationship of Job Requirements and Human Resources Management Functions; Job Analysis; Job Design.
5. Human Resources Planning and Recruitment : Human Resources Planning; Elements of Effective Human Resources Planning; Recruiting Within the Organization; Recruiting Outside the Organization; Recruitment of Protected Classes.
6. Selection : Matching People and Jobs; Sources of Information About Job Candidates; Employment Tests; The Employment Interview; Reaching A Selection Decision.
7. Training : Orientation; The Scope of Training; A System Approach to Training; Training Nonmanagerial Employees; Training Managers and Supervisor; Special Training Programs; Psycologi al Principles of Learning.
8. Career Development : Phases of A Career Development Program; Career Development Programs for A Diverse Workfoce; Personal Carrer Development.
9. Appraising and Improving Performance : Performance Appraisal programs; Developing An Effective Appraisal Program; Performance Appraisal Methods; Appraisal Interviews.
10. Managing Compensation : The Compensation Program; Components of the Wage Mix ; Job Evaluation Systems; The Compensation Structure; Governmental Regulation of Compensation; Significant Compensation Issues.
11. Incentive Compensation : Reasons and Requirements for Incentive Plans; Setting Performance Measure; Administering Incentive Plans; Incentive for Nonmanagement Employees; Incentive for Management Employees; Incentive for Executive Employees; Gainsharing Incentive Plans.
12. Employee Benefits : Employee Benefits Programs; Employee Benefits Required By Law; Discretionary Major Employee Benefits; .Employee Services.
13. Safety and Health : Legal Requirements for Safety and Health; Creating A Safe Work Environment; Creating A Healthy Work Environment; The Management of Stress
14. Motivation and Leadership ; Using Rewards to Motivate; Equity Theory and Motivation; Expectancy Theory and Motivation; Designing Work for Employee Involvement; Motivation Through Effective Leadership.
15. The Role of Communication in HRM : The Importance of Communication; The Nature of Comunication; Downward Communication Systems; Upward Communication Systems; The Informal Communication System; Improving Organizational Communication; Counseling .
16. Employee Rights and Dicipline.
17. The Dynamics of Labor Relations : Government Regulation of Labor Relations; The Labor Relations Process; Structures; Functions; and Leadership of Labor Unions; Labor Relations in the Public Sector; Contemporary Challenges to Labor Organizations.
18. Collective Bargaining and Contract Administration The Bargaining Process; Trends in Collective Bargaining; The Labor Agreement; Administration of the Labor Agreement.
19. Internal Human Resources Management : Managing Across Borders; International Staffing; Training and Development; Performance Appraisal; Compensation; International Organizations and Labor Relations.
20. Auditing the Human Resources Management Program : Contributions of the Human Resources Audit; Conducting the Audit; Indicators in Evaluating the Work Environment.


1. Information : A Corporate Resource : Insurers as Information-Driven Institutions; Information as a Corporate Resource; The Need for Quality Information; Information Management; The System Model and Insurance Companies.
2. Computer Hardware : Introduction to the Computer; The Central Processing Unit; Types of Computers; General-Purpose and Special-Purpose Computers; Peripheral Devices
3. Computer Software : Types of Software; Programming Languages; System Software; Types of Operating Systems; Application Software.
4. File and Database Management : File and Database Terminology; Legacy Systems; File Management Systems; The Integrated Database Concept; Database Used by Insurers
5. Telecommunication : Introduction to Telecommunication; Sending Data through Telecommunication Networks; Computer Networks; Electronic Data Interchange
6. Transaction Processing System : Transaction Processing Systems; Data Capture , Transaction Processing; Transaction Output and Control; Transaction Processing System in Insurance Companies.
7. Decision Making and Information System : The Management Support System; Information Reporting Systems; Decision Support Systems; Executive Information Systems.
8. Office Information System and Knowledge-Based Systems : Office Information Systems; Knowledge-Based Systems.
9. Using Descriptive Statistics to Manage Information : Descriptive and Inferential Statistics; Finding and Validating a Representative Value; Tabular and Graphical Presentations of Data; Descriptive and Deceptive Statistics,
10. Using Inferential Statistics to Manage Information : Sampling; Using Sample Data to Predict Population Characteristics; A Final Caution.
11. Using Decision Theory and Linear Programming to Manage Information : Fundamentals of Management Science; Decision Theory Models; Linear Programming Models.
12. Applying Management Science Models to Business Operations : Break-Even Models; Project Scheduling Models; Inventory Models; Queuing Models; Simulation Models; Forecasting Models; Applying Management Science Models to Business Decisions.
13. Strategic Planning for Information Systems : The Information Systems Department; Strategic Planning for Information Systems; Strategic Planning Methodologies for Information Systems
14. Developing an Information Systems : Developing a Project Proposal; Management of an Information Systems Project; The Systems Development Life Cycle; Alternate Methods for Developing System Projects.
15. Implementation and Maintenance of Information Systems : Implementation of an Information System; Controls for Information System; Maintenance of Information Systems; Quality Assurance.


Buku Wajib :
a. PRINCIPLE OF MANAGERIAL FINANCE ; Gitman, Lawrence J ; 7th ed. New York : Harper Collins College Publisher , 1994
b. ACCOUNTING AND FINANCIAL REPORTING IN LIFE AND HEALTH INSURANCE COMPANIES ; Elizabeth A. Mulligan, FLMI, ALHC, and Gene Stone, FLMI, ACS ; Life Management Institute, LOMA, Atlanta, Georgia, 1997.
c. MANAGING FOR SOLVENCY AND PROFITABILITY IN LIFE AND HEALTH INSURANCE COMPANIES ; Susan Conant et all, LOMA, 1996. Bab : 1,2,3,4,5,10,11,12,13,15,16 dan 17.
d. Pedoman Akuntansi Asuransi Indonesia (PAKASI) untuk Asuransi Jiwa

Silabus :


1. The goal and environment of managerial finance : The role of finance and the finance manager; The operating environment of the firm; Financial statements; depreciation; and cash flow; The analysis of financial statement.
2. Basic financial concepts : The time value of money; Risk and return; Valuation.
3. Long-term investment decisions : Capital budgeting and cash flow principles; Capital budgeting techniques : Certainty; risk; and some refinements.
4. Cost of capital; leverage and capital structure : The cost of capital; Leverage and capital structure.
5. Long-term financing decisions : Long-term financing decisions; Common stock and dividend policy; Preferred stock; leasing; convertibles; warrants; and options.
6. Short-term financial decisions : Financial planning; Net working capital and short-term financing; Cash and marketable securities; Accounts receivable and inventory.
7. Special managerial finance topics : Merger; LBOs; divestitures; and failure; International managerial finance.


1. The Accounting Function : The Purpose of Accounting; Who Uses Accounting Information and How Do They Use It; Fields of Accounting and Accounting Principles; Who Performs the Accounting Function ?; How Accounting is Regulated; The Accounting Profession.
2. Accounts and the Double-Entry System : Classification of Accounts; Double-Entry Accounting.
3. The Accounting Cycle : Accounting Records; Financial Statements.
4. The Conceptual Framework of Financial Accounting : Financial Statement Concepts; The Quality of Accounting Information; Principles for Maintaining Accounts; Accounting Basis.
5. The Annual Report : The Annual Report; Letter to Stockholders and Financial Highlights; Financial Statements; Notes and Supplementary Information; Auditor’s Report; Financial Statement Integration.
6. An Overview of the Annual Statement : Balance Sheet; Summary of Operations; Capital and Surplus Account; Statutory to GAAP Reconciliation; Other Statements and Schedules.
7. Accounting for Invested Assets : Asset Classification and Valuation; Bonds; Stocks; Mortgage Loans
8. Accounting for Other Assets : Real Estate; Derivatives; Policy Loans; Accounting for Cash and Short=Term Investments; Accounting for Other Assets.
9. Accounting for Liabilities : Reserves : Reserve for Different Accounting Requirements; The Effects of Reserve Strength on Solvency and Solvency and Profitability; Policy Reserves for Life Insurance; Policy Reserve for Annuities; Reserves for Accident and Health Insurance; Surplus Strain; Policy Reserves Calculated for Tax Purposes; Other Types of Reserves.
10. Accounting for Policy Benefits and Other Liabilities : Policy Dividends; Non forfeiture Options; Claim Settlements; Annuity and Supplementary Contract Payments; Other Liabilities; Financial Reporting Requirements
11. Accounting for Capital and Surplus : Essential Concepts of Capital and Surplus; Capital and Surplus Accounts; Financial Reporting Requirements.
12. Accounting for Revenues : Income Classifications; Premium Income; Investment Income; Other Sources of Revenues; Financial Reporting of Revenues.
13. Accounting for Expenses : Agent Commission and Salaries; Operating Expenses; Taxes; Licenses; and Fees; Financial Reporting of Expenses.
14. The Time Value of Money : The Time Value of Money; Interest; Risk and Inflation; Calculating Future Value; Calculating Future value; A Note about Interest Factors; Insurance Operations and the Time Value of Money.
15. Management Accounting : Functions of Management and Management Accounting; Financial Accounting vs Management Accounting.
16. Cost Accounting : Uses of Cost Accounting; Cost Classification; Cost Accumulation and Cost Allocation; Analyzing Costs; Cost and the Pricing of Products.
17. Budgeting : Why Budget ?; The Budgeting Process; Operational Budgeting; Cash Budgeting; Capital Budgeting.
18. Responsibility Accounting : Goal Congruence; Responsibility Centers; Performance Evaluation Issues.
19. Financial Statement Analysis : External and Internal Analysis; Horizontal and Vertical Analysis; Analysis of the Statement of Cash Flows; Ratio Analysis; Regulatory Analysis of Financial Statements; Health Insurance Financial Analysis.
20. Internal Control and Auditing : Internal Control; Auditing


1. Introduction to Solvency and Profitability : Enhancing Profitability and Protecting Solvency : An Overview; Financial Profile of the Insurance Industry; Tracking Financial Performance.
2. Balancing Returns with Solvency : Generating and Measuring Returns; Balancing the Profit Motive with Concern for Safety; Protecting Solvency; Conservative and Aggressive Financial Strategies.
3. Creating Forecasts and Generating Assumptions : Risk and the Product Portfolio; Balancing Product Profitability and Risk; What Is a Forecast ?; Forecasting Methods; Testing Assumptions; Interest-Sensitive Cash-Flow Analysis.
4. Designing Financial Products : Product Development and Design Processes; Basics of Insurance Pricing; Product-Related Revenues; Product Related Costs.
5. The Time Value of Money : The Effect of Interest; Calculating Future Value; Calculating Present Value ; A Note about Interest Factors; ExecuView’s Features and Functions; The Five Models; Three Ways of Viewing ExecuView; Troubleshooting.
6. Introduction to Capital Management : How the Risk-Return Tradeoff Applies to Capital Management; Capital in the Balance Sheet; Financial Reporting Systems for Capital Management; Evaluating Capital Needs; Analyzing Capital Investments; Evaluating Risk Exposures.
7. Capital Planning : Note about Organizational Structures; Corporate Planning; Capital Planning; Capital Management Strategies.
8. Internal Sources of Capital : Overview of Internal Sources of Capital; Uncovering Hidden Capital.
9. Issuing Financial Instruments : Equity Financing versus Debt Financing; Common Stock ; Preferred Stock; Surplus Notes.
10. Monitoring Financial Strength : Who Uses Financial Analysis ?; Sources of Information for Financial Analysis; Quantitative and Qualitative Information; Financial Statement Analysis; Rating Agency Monitoring of Insurers.
11. Orientation to Asset/Liability Management : Major Objectives of Asset/Liability Management; Ensuring Technical Solvency through Asset/Liability Management (ALM); ALM and the Regulatory Environments in the United State and Canada; Organizing for ALM; Pitfalls Arising from the Complexity of ALM.
12. Approaches to Asset/Liability Management : ALM and Asset/Liability Spread; Using ALM for Managing C-3 Risks; Technical Approaches Used in ALM Programs; Portfolio Gap Analysis; Cash-Flow Testing and Dynamic Solvency Testing; Optimization Modeling; Portfolio Insurance; The Formal ALM Reporting System; The Investment Activity Report.


Buku Wajib :
a. ESSENTIAL OF ECONOMICS, Badley R. Schiller, LOMA 1995
b. FUNDAMENTAL OF INVESTING, Lawrence J. Gitman and Michael D. Joehnk, 3rd Edition, Harper & Row Publishers, 1995.

Silabus :

1. An Overview : Market vs. Government; Three Basic Questions ( WHAT to Produce; HOW to Produce; FOR WHOM to Produce); What Economics Is All About.
2. Supply and Demand : Market Participants; Market Interactions; Demand; Supply; Equilibrium; Disequilibrium; Laisez Faire.
3. The US and Canadian Economies : What the United State and Canada Produce; How the United State and Canada Produce; For Whom the United State and Canada Produce.
4. Consumer Demand : Patterns of Consumption; Determinants of Demand; The Demand Curve; Price Elasticity; Caveat Emptor.
5. Supply Decisions : The Production Function; Costs of Production; Economics Cost vs Accounting Costs; Supply Horizons; Productivity Improvements.
6. Competition : Market Structure; Perfect Competition; The Firm’s Production Decision; Profit Maximization; Supply Behavior; Market Equilibrium; The Virtues of Competition.
7. Monopoly : Monopoly Structure; Monopoly Behavior; Barriers to Entry; Pros and Cons of Monoply.
8. The Labor Market : Labor Supply; Labor Demand; The Hiring Decision; Market Equilibrium; Comparable Worth-A Challenge to Wage Theory.
9. Government Intervention : Market Failure; Public Goods; Externalities; Market Power; Equity; Macro Instability; Government Failure.
10. The Business Cycle : Historical Cycles; Unemployment; Inflation.
11. Aggregate Supply and Demand : Macro View; Stable or Unstable; The Aggregate Supply-Demand Model; Macro Failure; Competing Theories; Policy Options.
12. Fiscal Policy : Components of Aggregate Demand; The Nature of Fiscal Policy; Fiscal Stimulus; Fiscal Restraint; Unbalanced Budgets.
13. Money and Banks : The Use of Money; The Money Supply; Creation of Money; The Money Multiplier; The Macro Role of Banks.
14. Monetary Policy : The U.S. Federal Reserve System; The Canadian Banking System; Monetary Tools; Shifting Aggregate Demand; Price vs Output Effects; Fixed Rules or Discretion.
15. Economic Growth : The Nature of Growth; Growth Indexes; Sources of Productivity Growth; Policy Levers; Is More growth Desirable ?
16. Theory and Reality : Policy Levers; Idealized Uses; The Economic Record; Why Things Don’t Always Work; Hands Off or Hands On ?
17. International Trade : U.S. and Canadian Trade Patterns; Motivation to Trade; Comparative Advantage; Term of Trade; Protectionist Pressures; Barriers to Trade; Trade Adjustment.


1. The Role and Scope of Investment : The Role of Investments; Investing; Investment Vechicles; An Overview of the Text .
2. Investment Market and Transactions : Securities Markets; Making Security Transactions; Basic Types of Transactions.
3. Investment Information and Plans : Types and Sources of Investment Information; Market Averages and Indexes; Investment Goals and Plans; Meeting Liquidity Needs : Investing in Short-Term Securities.
4. Measuring Investment Return and Risk : The Concept of Return; The Time Value of Money; Determining a Satisfactory Investment; Measuring Return; Risk : The Other Side of the Coin.
5. Common Stock Investments : The Investment Appeal of Common Stocks; Basic Characteristics of Common Stock; Common Stock Dividends; Types and Uses of Common Stock.
6. Fundamental Analysis of Common Stock : Principles of Security Analysis; Industry Analysis; Fundamental Analysis.
7. Stock Valuation and Investment Decisions : Valuation : Obtaining a Standard of Performance; Stock Valuation Models; Technical Analysis; Random Walks and Efficient Markets.
8. Bond Investments : Why Invest in Bonds; Principles of Bond Price Behavior; The Market for Debt Securities; Trading Bonds.
9. Bond Valuation and Analysis : The Behavior of Market Interest Rate; The Pricing of Bonds; Measures of Yield and Return; Duration and Immunization; Bond Investment Strategies.
10. Preferred Stock and Concertible Securities.
11. Options : Rights; Warrants; Puts and Calls.
12. Commodities; Financial Futures and Tangible Investments : The Futures Market; Commodities; Financial Futures; Tangible Investments
13. Mutual Funds : An Indirect Route to The Market : The Mutual Fund Phenomenon; Types of Funds and Services; Investing in Mutual Funds
14. Real Estate Investment : Setting Real Estate Investment Objectives; Determinants of Value; Real Estate Valuation; An Example of Real E state Valuation : The Academic Arms Apartments; Real Estate Investment Securities.
15. Tax Shelters and Limited Partnerships : Tax Fundamentals; Tax Strategies; Tax-Favored Income; Deferred Annuities and Single-Premium Life Insurance; Using Limited Partnerships :
16. Planning and Building a Portfolio : Principles of Portfolio Planning; Traditional versus Modern Portfolio Theory; Building a Portfolio Using an Asset Allocation Scheme; Portfolio Planning in Action.


1. The Economic Role of Financial Institutions : Financial Institutions in an Economy; Costs of Using Financial Institutions.
2. Types of Financial Institutions : The Different Types of Financial Institutions; Depository Institutions; Investment Institutions; Insurance Institutions; The changing Financial Environment.
3. The Management of Life and Health Insurers’ Investment : Principle of Managing Life and Health Insurers’ Assets.
4. Life and Health Insurers’ Investment Accounts : General Accounts; Separate Accounts; Investment/Product Matching; Segmented Accounts; The Investment Year Method of Accounting.
5. Environmental Factors Affecting Insurer’s Investments : Interest, Inflation and Disintermediation; Mortality and Longevity Trends; Legal Factors Affecting Insurers’ Investments; Changing Suorces of Funds; Product Innovations.
6. Management of Investment Risk : Types of Investment Risk; Measuring the Risk-Return Trade-Off; Insurers’ Investment Strategies for Risk Management
7. Preparing for the Future : Trends in Life and Health Insurers’ Investments; The Future of Life and Health Insurers as Financial Institutions.