Managing Assets and Liabilities: Strategies for Insurance Companies October 2008 Financial Services Commission of Jamaica Insurance Seminar - October 30‚ 2008 Michael Hafeman‚ FSA‚ FCIA‚ MAAA Context for Asset-Liability Management Risks and Risk Tolerance Risk Measurement ALM Techniques Organizational Issues Supervisory Objectives Managing Assets and Liabilities: Strategies for Insurance Companies 2 What is it and why is it used? Managing Assets and Liabilities: Strategies
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Introduction Overview of the hedging techniques In the financial market‚ almost all of companies need to face the currency risk. In order to manage the currency risk‚ companies will use different hedging techniques‚ such as financial and operational hedging techniques. For example‚ money market‚ futures contracts‚ options and forwards contracts are commonly used by firms‚ as well as operational hedging techniques. All of 4 types of financial hedging techniques are short-term hedge. Money market is
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overcrowded classes in the developing world: reduction of school fees or rapid population growth. The reality‚ however‚ is that each of these factors can lead to large classes. This may affect the quality of education if effective strategies and techniques are not used to manage large classes. Used interchangeably‚ overcrowded or large classrooms are those where the pupil-teacher ratios exceed 50/1. Such classrooms conditions are particularly found in the developing world where class sizes often
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any specific technique for effectively managing its cash? (a) Yes (b) No Answer: No‚ There is no specific technique used by the company to effectively managing its cash. Q.2 How Important is Debtors Management to your Company? (a) Very Important (b) Important (c) Not Very Important Answer: The debtors management is very important to the company since the company works on a low margin and high volume strategy. The average margin on each transaction is nearly about 5% and if the company has debtors
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In the piece “ The Company Man” by Ellen Goodman he describes the life of a man named Phil through literary techniques. Ellen spoke of the man unable to be memorable and a pedestrian man who was easily replaced. Utilizing them he created an apathetic attitude that accepted Phil’s death quite easily despite him being a “Type A” worker and a vice president for a company . Rhetorical techniques that were incorporated in the writing include both the writer’s and Phil’s “Dearly beloved” perspective ‚
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The Zappos Way of Managing How Tony Hsieh uses relentless innovation‚ stellar customer service‚ and a staff of believers to make Zappos.com an e-commerce juggernaut -- and one of the most blissed-out businesses in America. By Max Chafkin | May 1‚ 2009 "What would make you happier in your life?" Tony Hsieh asks me this question as we sit at a booth with half a dozen young people in one of those absurdly lavish lounges that can be found only in Las Vegas. It’s called Lavo‚ setting of recent
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Japan’s largest soap and cosmetic company. They have developed from being a minor player to being number two in the Japanese market in less than ten years and are the sixth largest soap and cosmetic company in the world. Innovation Claim to Fame Kao was founded in 1890 as the Kao Soap Company with the motto‚ ‘Cleanliness is the foundation of a prosperous society’. In the 1940s Kao launched the first Japanese laundry detergent‚ and in the 1950s the company launched dishwashing and household
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cited by Todnem By‚ 2005). My exposure to change was whilst working for a SME. The company‚ which had five retail stores throughout the west of Ireland‚ was an o2 mobile phone network dealership and also a DVD movie rental service. The store I worked in had 7 members of staff. The company had approximately 40 and operated from 2004 to 2008. I became retail assistant manager in 2005‚ the first such position in the company. Relations with staff were tense as the position was filled externally. The manager
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McKinsey & Company was founded in 1926 as the Accounting and Engineering Advisors and it grew rapidly. The case describes the steps taken by McKinsey & Company to transform the firm into "snowball makers" and "snowball throwers." 1. What was the organization design that was in place at McKinsey and what did they want to change? Did the change in design complement their strategy? What were the key barriers to implementing change? The organization design in place at McKinsey was general in nature
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Company’s background: McKinsey & Company is a privately owned management consulting firm that focuses on solving issues of concern to senior management in large corporations and organizations. Known among its employees simply as "The Firm" McKinsey & Company was founded in Chicago in 1926 by James O. ("Mac") McKinsey. McKinsey was a professor at the University of Chicago who pioneered budgeting as a management tool. Marshall Field’s became a client in 1935‚ and soon convinced James McKinsey to
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