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:where([role=\"tablist\"],[role=\"toolbar\"],[hidden],button,.nx-theme-toggle,.nx-live-slot){display:none}#nxe-n2ndb8k6.nxe img{max-width:100%;height:auto}<\/style><svg class=\"nx-defs\" aria-hidden=\"true\" focusable=\"false\" width=\"0\" height=\"0\"><defs><linearGradient id=\"nx-gi\" x1=\"0\" y1=\"0\" x2=\"1\" y2=\"1\"><stop offset=\"0\" class=\"nx-gi-a\"\/><stop offset=\"0.55\" class=\"nx-gi-b\"\/><stop offset=\"1\" class=\"nx-gi-c\"\/><\/linearGradient><linearGradient id=\"nx-giu\" gradientUnits=\"userSpaceOnUse\" x1=\"0\" y1=\"0\" x2=\"800\" y2=\"0\"><stop offset=\"0\" class=\"nx-gi-a\"\/><stop offset=\"0.55\" class=\"nx-gi-b\"\/><stop offset=\"1\" class=\"nx-gi-c\"\/><\/linearGradient><linearGradient id=\"nx-gp\" x1=\"0\" y1=\"0\" x2=\"1\" y2=\"1\"><stop offset=\"0\" class=\"nx-gp-a\"\/><stop offset=\"1\" class=\"nx-gp-b\"\/><\/linearGradient><\/defs><\/svg><section class=\"nx-hero\" data-layout=\"compact\" aria-labelledby=\"nx-title-1\"><div class=\"nx-container\"><div class=\"nx-theme-toggle\" role=\"group\" aria-label=\"Appearance of this page\" hidden><button type=\"button\" data-mode=\"light\" aria-pressed=\"false\">Light<\/button><button type=\"button\" data-mode=\"dark\" aria-pressed=\"false\">Dark<\/button><button type=\"button\" data-mode=\"auto\" aria-pressed=\"true\">System<\/button><\/div><nav class=\"nx-folio nx-crumbs\" aria-label=\"Breadcrumb\"><ol><li><a href=\"https:\/\/globalriskalliance.com\/\">GRA<\/a><\/li><li><a href=\"https:\/\/globalriskalliance.com\/actuarial-quantitative-risk\/\">Actuarial and Quantitative Risk<\/a><\/li><li><span aria-current=\"page\">Topics<\/span><\/li><\/ol><\/nav><div class=\"nx-hero-grid\"><div class=\"nx-hero-text\"><div class=\"nx-eyebrow-row\"><span class=\"nx-eyebrow\">GRA<\/span><span class=\"nx-eyebrow\" aria-hidden=\"true\">\u00b7<\/span><span class=\"nx-eyebrow\">Actuarial and Quantitative Risk<\/span><\/div><div class=\"nx-accent-row\"><span class=\"nx-accent-rule\" aria-hidden=\"true\"><\/span><span>Actuarial and Quantitative Risk \u00b7 Topics<\/span><\/div><h1 id=\"nx-title-1\" class=\"nx-hero-title\">Topics<\/h1><p class=\"nx-tagline\">Topics at Actuarial and Quantitative Risk: the pages in this section are listed below, each with its own scope and status.<\/p><div class=\"nx-actions\"><a class=\"nx-btn\" data-variant=\"primary\" href=\"https:\/\/globalriskalliance.com\/actuarial-quantitative-risk\/topics\/loss-distributions\/\">Open Loss distributions <svg class=\"nx-arrow\" viewBox=\"0 0 16 16\" aria-hidden=\"true\"><path d=\"M3 8h10M9 4l4 4-4 4\"\/><\/svg><\/a><a class=\"nx-btn\" data-variant=\"secondary\" href=\"https:\/\/globalriskalliance.com\/actuarial-quantitative-risk\/\">Back to Actuarial and Quantitative Risk<\/a><\/div><dl class=\"nx-facts\"><div><dt class=\"nx-eyebrow\">Publisher<\/dt><dd>The Global Risk Alliance<\/dd><\/div><div><dt class=\"nx-eyebrow\">Field<\/dt><dd>Insurance and catastrophe, Methods and modelling, Capital markets and investment<\/dd><\/div><\/dl><\/div><\/div><\/div><\/section> <nav class=\"nx-index-strip\" data-nx-spy=\"true\" aria-label=\"On this page\"><div class=\"nx-container\"><a href=\"#nx-sec-about-this-section\"><span>01<\/span>About this<\/a><a href=\"#nx-sec-pg-nx-gra-a-p11-tp\"><span>02<\/span>Topic map<\/a><a href=\"#nx-sec-pg-sources\"><span>03<\/span>Sources<\/a><a href=\"#nx-s-5-sec\"><span>04<\/span>Pages<\/a><a href=\"#nx-sec-nr-gateway\"><span>05<\/span>Nexus Reports<\/a><\/div><\/nav> <section id=\"nx-sec-about-this-section\" class=\"nx-section\" data-hue=\"finance\" data-variant=\"inset\" aria-labelledby=\"nx-s-2\"><div class=\"nx-container\"><div class=\"nx-section-head\"><div class=\"nx-eyebrow-row\"><span class=\"nx-eyebrow\">01<\/span><span class=\"nx-rule\" aria-hidden=\"true\"><\/span><span class=\"nx-eyebrow\">About this section<\/span><\/div><h2 id=\"nx-s-2\" class=\"nx-section-title\">Topics at Actuarial and Quantitative Risk.<\/h2><p class=\"nx-lede\">GRA is a nonprofit business league for the financial services industry. It does not lend, underwrite, rate, invest, advise on or arrange transactions, and readiness work is not approval.<\/p><\/div><\/div><\/section><section id=\"nx-sec-pg-nx-gra-a-p11-tp\" class=\"nx-section\" data-hue=\"project\" data-tone=\"alt\" aria-labelledby=\"nx-s-3\"><div class=\"nx-container\"><div class=\"nx-section-head\"><div class=\"nx-eyebrow-row\"><span class=\"nx-eyebrow\">02<\/span><span class=\"nx-rule\" aria-hidden=\"true\"><\/span><span class=\"nx-eyebrow\">Topic map<\/span><\/div><h2 id=\"nx-s-3\" class=\"nx-section-title\">Actuarial and Quantitative Risk topics, and the question each answers.<\/h2><\/div><div class=\"nx-section-body\"><div class=\"nx-table-wrap\"><ul class=\"nx-dir\" data-cols=\"2\" aria-label=\"Topic\"><li><a class=\"nx-dir-row\" href=\"https:\/\/globalriskalliance.com\/actuarial-quantitative-risk\/topics\/loss-distributions\/\"><span class=\"nx-dir-name\">Loss distributions in actuarial modelling<\/span><span class=\"nx-dir-fact\"><span class=\"nx-dir-k\">The question<\/span><span class=\"nx-dir-v\">A loss distribution describes how often losses occur and how large they are, for one policy, a portfolio or a whole line of business.<\/span><\/span><svg class=\"nx-arrow\" viewBox=\"0 0 16 16\" aria-hidden=\"true\"><path d=\"M3 8h10M9 4l4 4-4 4\"\/><\/svg><\/a><\/li><li><a class=\"nx-dir-row\" href=\"https:\/\/globalriskalliance.com\/actuarial-quantitative-risk\/topics\/extreme-value-methods\/\"><span class=\"nx-dir-name\">Extreme value methods for risk<\/span><span class=\"nx-dir-fact\"><span class=\"nx-dir-k\">The question<\/span><span class=\"nx-dir-v\">Extreme value theory gives a statistical basis for estimating the size and frequency of losses and hazards beyond what the record shows.<\/span><\/span><svg class=\"nx-arrow\" viewBox=\"0 0 16 16\" aria-hidden=\"true\"><path d=\"M3 8h10M9 4l4 4-4 4\"\/><\/svg><\/a><\/li><li><a class=\"nx-dir-row\" href=\"https:\/\/globalriskalliance.com\/actuarial-quantitative-risk\/topics\/climate-adjusted-pricing\/\"><span class=\"nx-dir-name\">Climate-adjusted insurance pricing<\/span><span class=\"nx-dir-fact\"><span class=\"nx-dir-k\">The question<\/span><span class=\"nx-dir-v\">Insurance premiums have traditionally been based on long averages of past losses.<\/span><\/span><svg class=\"nx-arrow\" viewBox=\"0 0 16 16\" aria-hidden=\"true\"><path d=\"M3 8h10M9 4l4 4-4 4\"\/><\/svg><\/a><\/li><li><a class=\"nx-dir-row\" href=\"https:\/\/globalriskalliance.com\/actuarial-quantitative-risk\/topics\/credibility-and-sparse-data\/\"><span class=\"nx-dir-name\">Credibility theory and sparse data<\/span><span class=\"nx-dir-fact\"><span class=\"nx-dir-k\">The question<\/span><span class=\"nx-dir-v\">Many risks have little data: new products, small portfolios, rare perils and emerging markets.<\/span><\/span><svg class=\"nx-arrow\" viewBox=\"0 0 16 16\" aria-hidden=\"true\"><path d=\"M3 8h10M9 4l4 4-4 4\"\/><\/svg><\/a><\/li><li><a class=\"nx-dir-row\" href=\"https:\/\/globalriskalliance.com\/actuarial-quantitative-risk\/topics\/dependence-and-correlation\/\"><span class=\"nx-dir-name\">Dependence and correlation in risk models<\/span><span class=\"nx-dir-fact\"><span class=\"nx-dir-k\">The question<\/span><span class=\"nx-dir-v\">Diversification lowers capital only if risks do not move together.<\/span><\/span><svg class=\"nx-arrow\" viewBox=\"0 0 16 16\" aria-hidden=\"true\"><path d=\"M3 8h10M9 4l4 4-4 4\"\/><\/svg><\/a><\/li><li><a class=\"nx-dir-row\" href=\"https:\/\/globalriskalliance.com\/actuarial-quantitative-risk\/topics\/capital-and-solvency-models\/\"><span class=\"nx-dir-name\">Capital and solvency models explained<\/span><span class=\"nx-dir-fact\"><span class=\"nx-dir-k\">The question<\/span><span class=\"nx-dir-v\">Capital and solvency models set how much capital insurers and other financial firms must hold to absorb severe losses.<\/span><\/span><svg class=\"nx-arrow\" viewBox=\"0 0 16 16\" aria-hidden=\"true\"><path d=\"M3 8h10M9 4l4 4-4 4\"\/><\/svg><\/a><\/li><li><a class=\"nx-dir-row\" href=\"https:\/\/globalriskalliance.com\/actuarial-quantitative-risk\/topics\/model-validation-quant\/\"><span class=\"nx-dir-name\">Quantitative model validation<\/span><span class=\"nx-dir-fact\"><span class=\"nx-dir-k\">The question<\/span><span class=\"nx-dir-v\">Quantitative models for pricing, reserving, capital and risk must be shown fit for purpose before they are relied on.<\/span><\/span><svg class=\"nx-arrow\" viewBox=\"0 0 16 16\" aria-hidden=\"true\"><path d=\"M3 8h10M9 4l4 4-4 4\"\/><\/svg><\/a><\/li><li><a class=\"nx-dir-row\" href=\"https:\/\/globalriskalliance.com\/actuarial-quantitative-risk\/topics\/mortality-and-longevity\/\"><span class=\"nx-dir-name\">Mortality and longevity risk modelling<\/span><span class=\"nx-dir-fact\"><span class=\"nx-dir-k\">The question<\/span><span class=\"nx-dir-v\">Mortality and longevity assumptions decide the cost of life insurance, annuities and pensions.<\/span><\/span><svg class=\"nx-arrow\" viewBox=\"0 0 16 16\" aria-hidden=\"true\"><path d=\"M3 8h10M9 4l4 4-4 4\"\/><\/svg><\/a><\/li><\/ul><\/div><p class=\"nx-p\">Topic pages in Actuarial and Quantitative Risk share one structure: mechanisms, indicators, sources, methods, decisions and limits, written for actuaries and quantitative analysts.<\/p><\/div><\/div><\/section><section id=\"nx-sec-pg-sources\" class=\"nx-section\" data-hue=\"finance\" data-variant=\"split\" aria-labelledby=\"nx-s-4\"><div class=\"nx-container\"><div class=\"nx-section-head\"><div class=\"nx-eyebrow-row\"><span class=\"nx-eyebrow\">03<\/span><span class=\"nx-rule\" aria-hidden=\"true\"><\/span><span class=\"nx-eyebrow\">Sources<\/span><\/div><h2 id=\"nx-s-4\" class=\"nx-section-title\">Where this page's references lead.<\/h2><p class=\"nx-lede\">The bodies and documents this page is read against. Status and editions change; each link goes to the issuing body.<\/p><\/div><div class=\"nx-section-body\"><ul class=\"nx-list\" data-nav=\"true\"><li><a class=\"nx-link\" href=\"https:\/\/eur-lex.europa.eu\/eli\/dir\/2009\/138\/oj\"><span>Solvency II Directive 2009\/138\/EC as amended by the 2025 review (apply from 30 January 2027)<\/span><svg class=\"nx-arrow\" viewBox=\"0 0 16 16\" aria-hidden=\"true\"><path d=\"M3 8h10M9 4l4 4-4 4\"\/><\/svg><\/a><\/li><li><a class=\"nx-link\" href=\"https:\/\/www.iais.org\/activities-topics\/standard-setting\/icps-and-comframe\/\"><span>IAIS Insurance Core Principles and ComFrame, including the Insurance Capital Standard (adopted December 2024)<\/span><svg class=\"nx-arrow\" viewBox=\"0 0 16 16\" aria-hidden=\"true\"><path d=\"M3 8h10M9 4l4 4-4 4\"\/><\/svg><\/a><\/li><li><a class=\"nx-link\" href=\"https:\/\/www.federalreserve.gov\/supervisionreg\/srletters\/srletters.htm\"><span>US interagency revised guidance on model risk management, SR 26-2 (April 2026), superseding SR 11-7<\/span><svg class=\"nx-arrow\" viewBox=\"0 0 16 16\" aria-hidden=\"true\"><path d=\"M3 8h10M9 4l4 4-4 4\"\/><\/svg><\/a><\/li><\/ul><\/div><\/div><\/section><section id=\"nx-s-5-sec\" class=\"nx-section\" data-hue=\"project\" data-tone=\"alt\" aria-labelledby=\"nx-s-5\"><div class=\"nx-container\"><div class=\"nx-section-head\"><div class=\"nx-eyebrow-row\"><span class=\"nx-eyebrow\">04<\/span><span class=\"nx-rule\" aria-hidden=\"true\"><\/span><span class=\"nx-eyebrow\">Pages<\/span><\/div><h2 id=\"nx-s-5\" class=\"nx-section-title\">Pages in Topics.<\/h2><\/div><div class=\"nx-section-body\"><div class=\"nx-cards\" data-cols=\"3\"><a class=\"nx-card\" href=\"https:\/\/globalriskalliance.com\/actuarial-quantitative-risk\/topics\/loss-distributions\/\"><span class=\"nx-eyebrow\">Topic<\/span><h3 class=\"nx-h4 nx-mt-2\">Loss distributions<\/h3><p class=\"nx-p nx-mt-1\">Frequency, severity and aggregate loss, and how tails are estimated.<\/p><\/a><a class=\"nx-card\" href=\"https:\/\/globalriskalliance.com\/actuarial-quantitative-risk\/topics\/extreme-value-methods\/\"><span class=\"nx-eyebrow\">Topic<\/span><h3 class=\"nx-h4 nx-mt-2\">Extreme value methods<\/h3><p class=\"nx-p nx-mt-1\">Tail estimation for hazards, markets and operational losses.<\/p><\/a><a class=\"nx-card\" href=\"https:\/\/globalriskalliance.com\/actuarial-quantitative-risk\/topics\/climate-adjusted-pricing\/\"><span class=\"nx-eyebrow\">Topic<\/span><h3 class=\"nx-h4 nx-mt-2\">Climate-adjusted pricing questions<\/h3><p class=\"nx-p nx-mt-1\">How non-stationary hazard changes pricing assumptions.<\/p><\/a><a class=\"nx-card\" href=\"https:\/\/globalriskalliance.com\/actuarial-quantitative-risk\/topics\/credibility-and-sparse-data\/\"><span class=\"nx-eyebrow\">Topic<\/span><h3 class=\"nx-h4 nx-mt-2\">Credibility and sparse data<\/h3><p class=\"nx-p nx-mt-1\">Working where loss history is short or missing.<\/p><\/a><a class=\"nx-card\" href=\"https:\/\/globalriskalliance.com\/actuarial-quantitative-risk\/topics\/dependence-and-correlation\/\"><span class=\"nx-eyebrow\">Topic<\/span><h3 class=\"nx-h4 nx-mt-2\">Dependence and correlation<\/h3><p class=\"nx-p nx-mt-1\">Copulas, contagion and why correlations break in stress.<\/p><\/a><a class=\"nx-card\" href=\"https:\/\/globalriskalliance.com\/actuarial-quantitative-risk\/topics\/capital-and-solvency-models\/\"><span class=\"nx-eyebrow\">Topic<\/span><h3 class=\"nx-h4 nx-mt-2\">Capital and solvency models<\/h3><p class=\"nx-p nx-mt-1\">Internal models, standard formulas and their assumptions.<\/p><\/a><a class=\"nx-card\" href=\"https:\/\/globalriskalliance.com\/actuarial-quantitative-risk\/topics\/model-validation-quant\/\"><span class=\"nx-eyebrow\">Topic<\/span><h3 class=\"nx-h4 nx-mt-2\">Quantitative model validation<\/h3><p class=\"nx-p nx-mt-1\">Back-testing, benchmarking and challenger models.<\/p><\/a><a class=\"nx-card\" href=\"https:\/\/globalriskalliance.com\/actuarial-quantitative-risk\/topics\/mortality-and-longevity\/\"><span class=\"nx-eyebrow\">Topic<\/span><h3 class=\"nx-h4 nx-mt-2\">Mortality and longevity<\/h3><p class=\"nx-p nx-mt-1\">Health, heat and demographic change in life and pension risk.<\/p><\/a><\/div><\/div><\/div><\/section><section id=\"nx-sec-nr-gateway\" class=\"nx-section\" data-hue=\"finance\" data-tone=\"alt\" aria-labelledby=\"nx-nr-gateway-h\"><div class=\"nx-container\"><div class=\"nx-section-head\"><div class=\"nx-eyebrow-row\"><span class=\"nx-eyebrow\">NR<\/span><span class=\"nx-rule\" aria-hidden=\"true\"><\/span><span class=\"nx-eyebrow\">Nexus Reports gateway \u00b7 GW-GRA<\/span><\/div><h2 id=\"nx-nr-gateway-h\" class=\"nx-section-title\">Contribute to Nexus Reports from this page.<\/h2><p class=\"nx-lede\">Nexus Reports is the Consortium's quarterly publication. What you know about this subject can become evidence, a case or a correction in the next edition, credited to you and published under CC BY 4.0 where it is your own work.<\/p><div class=\"nx-chips\"><span class=\"nx-chip\">Global Risk Alliance<\/span><span class=\"nx-chip\">Actuarial and Quantitative Risk<\/span><span class=\"nx-chip\">Methods and Technical<\/span><span class=\"nx-chip\">Finance and Insurance Readiness<\/span><\/div><\/div><div class=\"nx-section-body\"><ul class=\"nx-dest\"><li><a class=\"nx-dest-card\" href=\"mailto:contact@therisk.global?subject=Nexus%20Reports%20contribution%20%C2%B7%20GW-GRA%20%C2%B7%20https%3A%2F%2Fglobalriskalliance.com%2Factuarial-quantitative-risk%2Ftopics%2F&amp;body=Page%3A%20https%3A%2F%2Fglobalriskalliance.com%2Factuarial-quantitative-risk%2Ftopics%2F%0AGateway%3A%20GW-GRA%0AArea%3A%20Actuarial%20and%20Quantitative%20Risk%0AType%20(evidence%2C%20correction%2C%20case%20study%2C%20analysis%2C%20review%2C%20translation%2C%20profile%20input)%3A%0AWhat%20it%20is%20and%20where%20its%20record%20is%20kept%20(DOI%2C%20URL%20or%20dataset%20release)%3A%0ALicence%20of%20the%20material%3A%0AORCID%20iD%20(optional%2C%20for%20credit)%3A%0A\"><span class=\"nx-dest-top\"><span class=\"nx-dest-rel\">Gateway<\/span><span class=\"nx-dest-host\">GW-GRA<\/span><\/span><span class=\"nx-dest-title\">Send it from this page<\/span><span class=\"nx-dest-why\">Evidence, a correction, a case, a method, a review, a translation or profile input. 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