In this issue:

• Credit Default Swaps
• Enterprise Risk Management
• Regulation AB

Credit Default Swaps
The growth of the credit derivatives market has attracted the attention of banks, insurance companies, large institutions and hedge funds. It has also attracted the attention of regulators who want to make sure the industry can cope with the increased frequency of trading and assignments of contracts. And, with a nine-fold increase in just three years, credit default swaps are taking center stage.

Enterprise Risk Management
The need to effectively manage risk has not changed for insurance companies – but how they accomplish it certainly has. A few years ago, enterprise risk management (ERM) meant dealing with a comprehensive list of risks individually. Today it means having an advanced, centralized method for organizing, controlling and assessing all risks - across all business lines and throughout the organization, including finance and operations.

Regulation AB
The SEC's Regulation AB took effect on January 1^st. Issuers of asset-backed bonds, servicers of the collateral and even some companies that sell loans to the firms that securitize the loans must comply. Compliance is expected to increase costs for everyone involved - at a time when spreads are already eating into margins.

Every two weeks, we bring you the latest in business and software issues that impact how insurance companies and pension funds can use technology to their advantage.

Product Information

			CAMRA
			CAMRA D Class
			Debt & Derivatives
			Recon
			Sylvan

Trading

			Antares
			Heatmaps
			SSCNet

Outsourcing

SS&C Direct

Loan Management

			LMS Loan Suite
			LMS Originator
			LMS Servicer

Life, Health & Pension Financial Management

PTS

Property-Casualty & Reinsurance Financial Management

Finesse HD

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Congratulations! January 06 Puzzler Solvers: Mark Evans, AEGON USA Matt Hill, AEGON USA Stefanie Harder, AEGON USA Steve Malerich, AEGON USA Ethan Allen, AIG Alice Fontaine, Allen Bailey & Associates Sean Forbes, Allstate Insurance Company Mark Hartman, American Family Life Theresa Lee, American Fidelity Group Becky Roever, Amerprise Auto & Home Insurance Jeffrey I Rosenthal, Anchin Block & Anchin LLP Patty Perno, Aviva Joe Dudajek, AXA Dale Lecher, Badger Mutual Ins Christine White, BJC HealthCare Jeff Hanson, Central Insurance Cos. Timothy Luberecki, Columbian Mutual Life Kevin W. Parker, Computer Sciences Corporation Richard Marcks, Connecticut Insurance Department Jim Ward, Erie Insurance Gary Koupf, Everest Re Brad Simanek, Griffith, Ballard and Company Steve Frechtling, Hays Actuarial LLC Kishor M. Parekh, CGFM, Howard Gary & Company Wanda Mahoney, ISO Christopher Oates, John Hancock Lucy Hancock, John Hancock Marc-Donald Darbouze, John Hancock Patrick Shannon, John Hancock Timothy Hawkridge, John Hancock Mgmt Co. Tom Roust, Midland National Life Insurance Co. Kelly Bennett, Principal Financial Group Sheldon J. Greenspon, Prudential Financial J. Wade Luther, RGA Financial Markets Janice Jones, Royal Neighbors of America Cynthia Metheny, Sentry Insurance Marc Whinston, TIAA-CREF Jim Mowery, Transamerica Reinsurance Patrick Kinney, Tufts Health Plan Joyce Kopcik, Unity Mutual Life Insurance Company John Schumacher, Unity Mutual Life Insurance Company Terry W. Hilker, Van Elsen Consulting, Inc.

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