Guy Carpenter & Company, Inc., the global risk and reinsurance specialist of the Marsh & McLennan Group, announced that Gary Venter, FCAS, MAAA, Managing Director in the firm’s Instrat(R) unit, has been named the recipient of 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,” said the announcement. 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.”
Guy Carpenter described the paper as addressing “the question of how to simulate bond yield curves in an insurance company’s financial model. In the paper, Mr. Venter discusses how to test the distribution of yield curves in simulated financial scenarios against historical data.”
“I am honored to be recognized by the IAA and AFIR with this prestigious award,” Venter stated. “Through both its annual colloquia and the ASTIN Bulletin, the AFIR provides an invaluable service for those of us working in the areas of finance, financial economics and financial risk management. This award is particularly meaningful to me, as I knew Bob Alting von Geusau personally. He is missed as both an influential leader in this area and a dear colleague,” he added.
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