A Theoretical Portfolio Selection Approach for Insuring Property and Liability Lines [Discussion]

The Ferrari paper is one of the most significant papers we have had in the Casualty Actuarial Society Proceedings. It will stand as a landmark to be referred to many, many times in the future by researchers and actuaries alike. The paper touches me in a personal way because for at least six years I have carried a note to myself to attempt to develop a "balanced book approach combining profit with stability." This paper is the first significant step in that direction.