Benchmark Surplus Formulas

How can risk be measured and quantified? --Practical application of cash-flow analysis. Cash-flow-based surplus (CFS) -- A new concept of financial strength. Factors that affect benchmark surplus--Illustrations using C-3 risk single premium deferred annuity (SPDA) and guaranteed investment contract (GIC) products. How should multiple risks be combined for benchmark surplus? Benchmark surplus and the valuation actuary. Uses of benchmark surplus formulas.