On the Risk of Life Insurance Liabilities: Debunking Some Common Pitfalls

The objective of this paper is to contribute to a better understanding of the driving forces of a life insurance company. More specifically, the issues of the duration and convexity of insurance liabilities and equity are addressed. These issues deserve a careful rethinking given the recent trends that have affected the insurance landscape. A correct assessment of these risk measures is critical as they constitute the primary ingredients of any sound asset-liability management approach. In addition, the effort toward a more detailed and more accurate risk picture of life insurance operations enables one to debunk some pitfalls that are commonly encountered in the insurance industry. This paper was presented at the Financial Institutions Center's May 1996 conference on "

La torture en Sicile : Lettres au journal l'Opinion Nationale / par Charles De La Varenne Paris : E. Dentu, 1860

La torture en Sicile : Lettres au journal l'Opinion Nationale / par Charles De La Varenne Paris : E. Dentu, 1860 32 p. ; 25 cm

Beam dynamics studies in SPIRAL II LINAC

ACCInternational audienceThe proposed LINAG driver for the SPIRAL 2 project aims to accelerate a 5-mA D+ beam up to 20 A.MeV and 1-mA beam for q/A=1/3 up to 14.5 A.MeV. It is acontinuous wave regime (cw), designed for maximum efficiency in the transmission of intense beams. It consists of an injector (two ECR sources + a Radio Frequency Quadrupole) followed by a superconducting section based on an array of independently phased cavities. This paper presents beams dynamics studies associated to the LINAG driver. End-to-end simulations (low-energy beam lines, RFQ, medium-energy beam line, SC linac) are shown

Chemical and kinematical properties of BSSs and HB stars in NGC 6397

We used three sets of high-resolution spectra acquired with the multifiber facility FLAMES at the Very Large Telescope of the European Southern Observatory to investigate the chemical and kinematical properties of a sample of 42 horizontal branch (HB) stars, 18 Blue Straggler Stars (BSSs) and 86 main sequence turn-off and sub-giant branch stars in the nearby globular cluster NGC 6397. We measured rotational velocities and Fe, O and Mg abundances. All the unevolved stars in our sample turn out to have low rotational velocites (v sin i< 10\kms), while HB stars and BSSs show a broad distribution, with values ranging from 0 to 70 \kms. For HB stars with T<10500 K there is a clear temperature-oxygen anti-correlation, that can be understood if the star position along the HB is mainly determined by the He content. The hottest BSSs and HB stars (with temperatures T>8200 K and T> 10500 K, respectively) also show significant deviations in their iron abundance with respect to the cluster metallicity (as traced by the unevolved stars, [Fe/H]=-2.12). While similar chemical patterns have been already observed in other hot HB stars, this is the first evidence ever collected for BSSs. We interprete these abundance anomalies as due to the metal radiative levitation, occurring in stars with shallow or no convective envelopes

Coronal versus photospheric abundances of stars with different activity levels

We report a detailed analysis of the coronal abundance of 4 stars with varying levels of activity and with accurately known photospheric abundances. The coronal abundance is determined here using a line flux analysis and a full determination of the differential emission measure. Photospheric abundance values are taken from literature works. Previous coronal abundance determinations have generally been compared to solar photospheric abundances; from this a number of general properties have been inferred, such as the presence of a coronal metal depletion with an inverse First Ionization Potential correlated with activity level. Here we show that, when coronal abundances are compared with real photospheric values for the individual stars, the resulting pattern can be very different. Also, we present evidence that, in some cases, the coronal metal abundance may not be uniform in the corona; in particular it can vary with the temperature of the emitting plasma.Comment: 10 pages, Online material: 8 pages (online material is included in the file). Accepted by A&

A statistical method to determine open cluster metallicities

The study of open cluster metallicities helps to understand the local stellar formation and evolution throughout the Milky Way. Its metallicity gradient is an important tracer for the Galactic formation in a global sense. Because open clusters can be treated in a statistical way, the error of the cluster mean is minimized. Our final goal is a semi-automatic statistical robust method to estimate the metallicity of a statistically significant number of open clusters based on Johnson BV data of their members, an algorithm that can easily be extended to other photometric systems for a systematic investigation. This method incorporates evolutionary grids for different metallicities and a calibration of the effective temperature and luminosity. With cluster parameters (age, reddening and distance) it is possible to estimate the metallicity from a statistical point of view. The iterative process includes an intrinsic consistency check of the starting input parameters and allows us to modify them. We extensively tested the method with published data for the Hyades and selected sixteen open clusters within 1000pc around the Sun with available and reliable Johnson BV measurements. In addition, Berkeley 29, with a distance of about 15kpc was chosen. For several targets we are able to compare our result with published ones which yielded a very good coincidence (including Berkeley 29).Comment: 14 pages, 6 figures, accepted for publication in Astronomy & Astrophysic

Prevalence of Oral Pain and Barriers to use of Emergency Oral Care Facilities Among Adult Tanzanians.

Oral pain has been the major cause of the attendances in the dental clinics in Tanzania. Some patients postpone seeing the dentist for as long as two to five days. This study determines the prevalence of oral pain and barriers to use of emergency oral care in Tanzania. Questionnaire data were collected from 1,759 adult respondents aged 18 years and above. The study area covered six urban and eight rural study clusters, which had been selected using the WHO Pathfinder methodology. Chi-square tests and logistic regression analyses were performed to identify associations.\ud Forty two percent of the respondents had utilized the oral health care facilities sometimes in their lifetime. About 59% of the respondents revealed that they had suffered from oral pain and/or discomfort within the twelve months that preceded the study, but only 26.5% of these had sought treatment from oral health care facilities. The reasons for not seeking emergency care were: lack of money to pay for treatment (27.9%); self medication (17.6%); respondents thinking that pain would disappear with time (15.7%); and lack of money to pay for transport to the dental clinic (15.0%). Older adults were more likely to report that they had experienced oral pain during the last 12 months than the younger adults (OR = 1.57, CI 1.07-1.57, P < 0.001). Respondents from rural areas were more likely report dental clinics far from home (OR = 5.31, CI = 2.09-13.54, P < 0.001); self medication at home (OR = 3.65, CI = 2.25-5.94, P < 0.001); and being treated by traditional healer (OR = 5.31, CI = 2.25-12.49, P < 0.001) as reasons for not seeking emergency care from the oral health care facilities than their counterparts from urban areas. Oral pain and discomfort were prevalent among adult Tanzanians. Only a quarter of those who experienced oral pain or discomfort sought emergency oral care from oral health care facilities. Self medication was used as an alternative to using oral care facilities mainly by rural residents. Establishing oral care facilities in rural areas is recommended

Minigene-like inhibition of protein synthesis mediated by hungry codons near the start codon

Rare AGA or AGG codons close to the initiation codon inhibit protein synthesis by a tRNA-sequestering mechanism as toxic minigenes do. To further understand this mechanism, a parallel analysis of protein synthesis and peptidyl-tRNA accumulation was performed using both a set of lacZ constructs where AGAAGA codons were moved codon by codon from +2, +3 up to +7, +8 positions and a series of 3–8 codon minigenes containing AGAAGA codons before the stop codon. β-Galactosidase synthesis from the AGAAGA lacZ constructs (in a Pth defective in vitro system without exogenous tRNA) diminished as the AGAAGA codons were closer to AUG codon. Likewise, β-galactosidase expression from the reporter +7 AGA lacZ gene (plus tRNA, 0.25 μg/μl) waned as the AGAAGAUAA minigene shortened. Pth counteracted both the length-dependent minigene effect on the expression of β-galactosidase from the +7 AGA lacZ reporter gene and the positional effect from the AGAAGA lacZ constructs. The +2, +3 AGAAGA lacZ construct and the shortest +2, +3 AGAAGAUAA minigene accumulated the highest percentage of peptidyl-tRNAArg4. These observations lead us to propose that hungry codons at early positions, albeit with less strength, inhibit protein synthesis by a minigene-like mechanism involving accumulation of peptidyl-tRNA