Methodological problems in solvency assessment of an insurance company

The recent wide development and changes in insurance markets highlighted the necessity to map out the solvency analysis in a more complete framework. The approach we present in the paper comes up with an integrated analysis of the risk profile of an insurance business, taking into account the actual European directives about solvency assessment. The aim of the paper is to construct a methodology apt to incorporate properly the effect of the risk sources in calculating mathematical provisions related to a portfolio of insurance policies.Life insurance, financial risk, demographic risk, capital adequacy, reserves, conditional random processes

The double RGB in M 2: C, N, Sr and Ba abundances

The globular cluster M 2 has a photometrically detected double red giant branch (RGB) sequence. We investigate here the chemical differences between the two RGBs in order to gain insight in the star formation history of this cluster. The low-resolution spectra, covering the blue spectral range, were collected with the MODS spectrograph on the LBT, and analyzed via spectrum synthesis technique. The high quality of the spectra allows us to measure C, N, Ba, and Sr abundances relative to iron for 15 RGB stars distributed along the two sequences. We add to the MODS sample C and N measurements for 35 additional stars belonging to the blue RGB sequence, presented in Lardo et al. (2012). We find a clear separation between the two groups of stars in s-process elements as well as C and N content. Both groups display a C-N anti-correlation and the red RGB stars are on average richer in C and N with respect to the blue RGB. Our results reinforce the suggestion that M2 belongs to the family of globular clusters with complex star formation history, together with Omega Cen, NGC 1851, and M 22.Comment: 11 pages, 8 figures. Accepted for publication in MNRA

Qualidade e conservação da uva Superior Seedless sob atmosfera controlada.

O objetivo deste trabalho foi estudar o efeito do emprego da tecnologia Cargofresh de AC associada ao emprego de SO2 e ao envolvimento do pallet com filme plástico, sobre a vida útil de armazenamento da uva 'Superior Seedless' produzida no Vale do São Francisco

Challenges and opportunities for more efficient water use and circular wastewater management. The case of Campania Region, Italy

By 2050, global demand for water is expected to increase by some 55% due to population growth and urbanization. The utilization of large amounts of freshwater in the world, generate huge volumes of wastewater of which, globally, more than 80% is discharged without treatment, thus causing impacts on aquatic ecosystems, human health and economic productivity. More sustainable practices of wastewater management are expected as a way towards circular bioeconomy (CBE) processes, whose goal is to implement closed systems promoting the systematic use of recycling, reuse and recovery of bioproducts and by-products and the reduction of waste generation. This approach, if adopted in the water and wastewater sector, can ensure environmental, economic and social benefits. The reuse of wastewater, on the one hand, reduces the volume of wastewater and the pressure on water bodies; on the other hand, the recovery of nutrients (P or N) and/or other high value bioproducts (biogas, cellulose, biopolymers) from wastewater offers numerous advantages in terms of supplying new raw bio-based materials that can be refed back to supply chains (thus substituting fossil resources) and, at the same time, producing cleaner water to be reused. Nevertheless, while in Europe many industries have demonstrated the ability to recycle and reuse water, in many regions of Italy the sustainable management of water and wastewater is not yet consolidated. In this study we explore the available technological, economic and environmental options concerning water use and wastewater treatment and we apply them to design appropriate scenarios for improved use efficiency and circular management. A comprehensive literature review of the most promising wastewater treatment processes for resources and energy valorization was conducted. The recovery of PHAs, struvite, nitrogen and algal biomass, as potential substitutes for conventional PET, phosphate and nitrogen chemical fertilizers and electricity, respectively, in addition to reusable treated water, were hypothesized and carefully discussed. Resulting scenarios are tested against the present situation of Campania Region (situated in Southern Italy) based on population and demand statistics, in order to develop strategies and policies potentially applicable locally and elsewhere

Risk-adjusted performance indicators in life insurance

The paper approaches the potential of risk-adjusted performance indicators in life insurance, with special reference to a structured policy. The final issue is the computation of risk adjusted indicators as a tool to evaluate the portfolio given a policy structure. The computation of such indicator could be suitable for the appraisal of both portfolio optimization and potential profits of the structured policy. The selection tool is put into an asset and liability management decision making context, where the relationship between expected surplus and capital at risk are compared. The analysis is applied to a structured temporary annuity and is treated by means of Monte Carlo simulations

Cerebellum and neurodegenerative diseases: Beyond conventional magnetic resonance imaging

The cerebellum plays a key role in movement control and in cognition and cerebellar involvement is described in several neurodegenerative diseases. While conventional magnetic resonance imaging (MRI) is widely used for brain and cerebellar morphologic evaluation, advanced MRI techniques allow the investigation of cerebellar microstructural and functional characteristics. Volumetry, voxel-based morphometry, diffusion MRI based fiber tractography, resting state and task related functional MRI, perfusion, and proton MR spectroscopy are among the most common techniques applied to the study of cerebellum. In the present review, after providing a brief description of each technique's advantages and limitations, we focus on their application to the study of cerebellar injury in major neurodegenerative diseases, such as multiple sclerosis, Parkinson's and Alzheimer's disease and hereditary ataxia. A brief introduction to the pathological substrate of cerebellar involvement is provided for each disease, followed by the review of MRI studies exploring structural and functional cerebellar abnormalities and by a discussion of the clinical relevance of MRI measures of cerebellar damage in terms of both clinical status and cognitive performance

Presenting the Compendium Isotoporum Medii Aevi, a multi-isotope database for Medieval Europe

Here we present the Compendium Isotoporum Medii Aevi (CIMA), an open-access database gathering more than 50,000 isotopic measurements for bioarchaeological samples located within Europe and its margins, and dating between 500 and 1500 CE. This multi-isotope (δ13C, δ15N, δ34S, δ18O, and 87Sr/86Sr) archive of measurements on human, animal, and plant archaeological remains also includes a variety of supporting information that offer, for instance, a taxonomic characterization of the samples, their location, and chronology, in addition to data on social, religious, and political contexts. Such a dataset can be used to identify data gaps for future research and to address multiple research questions, including those related with studies on medieval human lifeways (i.e. human subsistence, spatial mobility), characterization of paleo-environmental and -climatic conditions, and on plant and animal agricultural management practices. Brief examples of such applications are given here and we also discuss how the integration of large volumes of isotopic data with other types of archaeological and historical data can improve our knowledge of medieval Europe.Background & Summary Methods Data Records Technical Validation Usage Note

Laminar analysis of the cortical T1/T2-weighted ratio at 7T

Objective: In this observational study, we explored cortical structure as function of cortical depth through a laminar analysis of the T1/T2-weighted (T1w/T2w) ratio, which has been related to dendrite density in ex vivo brain tissue specimens of patients with MS. Methods: In 39 patients (22 relapsing-remitting, 13 female, age 41.1 ± 10.6 years; 17 progressive, 11 female, age 54.1 ± 9.9 years) and 21 healthy controls (8 female, , age 41.6 ± 10.6 years), we performed a voxel-wise analysis of T1w/T2w ratio maps from high-resolution 7T images from the subpial surface to the gray matter/white matter boundary. Six layers were sampled to ensure accuracy based on mean cortical thickness and image resolution. Results: At the voxel-wise comparison (p < 0.05, family wise error rate corrected), the whole MS group showed lower T1w/T2w ratio values than controls, both when considering the entire cortex and each individual layer, with peaks occurring in the fusiform, temporo-occipital, and superior and middle frontal cortex. In relapsing-remitting patients, differences in the T1w/T2w ratio were only identified in the subpial layer, with the peak occurring in the fusiform cortex, whereas results obtained in progressive patients mirrored the widespread damage found in the whole group. Conclusions: Laminar analysis of T1w/T2w ratio mapping confirms the presence of cortical damage in MS and shows a variable expression of intracortical damage according to the disease phenotype. Although in the relapsing-remitting stage, only the subpial layer appears susceptible to damage, in progressive patients, widespread cortical abnormalities can be observed, not only, as described before, with regard to myelin/iron concentration but, possibly, to other microstructural features

The Gaia spectrophotometric standard stars survey -II. Instrumental effects of six ground-based observing campaigns

The Gaia SpectroPhotometric Standard Stars (SPSS) survey started in 2006, it was awarded almost 450 observing nights, and accumulated almost 100,000 raw data frames, with both photometric and spectroscopic observations. Such large observational effort requires careful, homogeneous, and automated data reduction and quality control procedures. In this paper, we quantitatively evaluate instrumental effects that might have a significant (i.e.,$\geq$1%) impact on the Gaia SPSS flux calibration. The measurements involve six different instruments, monitored over the eight years of observations dedicated to the Gaia flux standards campaigns: DOLORES@TNG in La Palma, EFOSC2@NTT and ROSS@REM in La Silla, [email protected] in Calar Alto, BFOSC@Cassini in Loiano, and [email protected] in San Pedro Martir. We examine and quantitatively evaluate the following effects: CCD linearity and shutter times, calibration frames stability, lamp flexures, second order contamination, light polarization, and fringing. We present methods to correct for the relevant effects, which can be applied to a wide range of observational projects at similar instruments.Comment: 16 pages, 13 figures, accepted for publication in Astron. Nach