Gary Venter, managing director in Guy Carpenter & Company Inc.'s Instrat unit in New York, has been given the International Actuarial Association's (IAA) Bob Alting von Geusau Memorial Prize.
The award is presented annually by the IAA's Actuarial Approach for Financial Risks (AFIR) section for the best contribution to the ASTIN Bulletin on a subject related to AFIR.
Mr. Venter received the award at the 28th International Congress of Actuaries in Paris for his research paper titled, “Testing Distributions of Stochastically Generated Yield Curves.”
The paper addresses the question of how to simulate bond yield curves in an insurance company's financial model.
AFIR, which was founded in 1986 to promote actuarial research in financial risks.
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