Valuing equity-linked death benefits in jump diffusion models

The paper is motivated by the valuation problem of guaranteed minimum death benefits in various equity-linked products. At the time of death, a benefit payment is due. It may depend not only on the price of a stock or stock fund at that time, but also on prior prices. The problem is to calculate the expected discounted value of the benefit payment. Because the distribution of the time of death can be approximated by a combination of exponential distributions, it suffices to solve the problem for an exponentially distributed time of death. The stock price process is assumed to be the exponential of a Brownian motion plus an independent compound Poisson process whose upward and downward jumps are modeled by combinations (or mixtures) of exponential distributions. Results for exponential stopping of a Lévy process are used to derive a series of closed-form formulas for call, put, lookback, and barrier options, dynamic fund protection, and dynamic withdrawal benefit with guarantee. We also discuss how barrier options can be used to model lapses and surrenders.

Sudden cardiac death in forensic medicine - Swiss recommendations for a multidisciplinary approach.

Sudden cardiac death (SCD) is by definition unexpected and cardiac in nature. The investigation is almost invariably performed by a forensic pathologist. Under these circumstances the role of the forensic pathologist is twofold: (1.) to determine rapidly and efficiently the cause and manner of death and (2.) to initiate a multidisciplinary process in order to prevent further deaths in existing family members. If the death is determined to be due to "natural" causes the district attorney in charge often refuses further examinations. However, additional examinations, i.e. extensive histopathological investigations and/or molecular genetic analyses, are necessary in many cases to clarify the cause of death. The Swiss Society of Legal Medicine created a multidisciplinary working group together with clinical and molecular geneticists and cardiologists in the hope of harmonising the approach to investigate SCD. The aim of this paper is to close the gap between the Swiss recommendations for routine forensic post-mortem cardiac examination and clinical recommendations for genetic testing of inherited cardiac diseases; this is in order to optimise the diagnostic procedures and preventive measures for living family members. The key points of the recommendations are (1.) the forensic autopsy procedure for all SCD victims under 40 years of age, (2.) the collection and storage of adequate samples for genetic testing, (3.) communication with the families, and (4.) a multidisciplinary approach including cardiogenetic counselling.

Caspase-mediated cleavage of raptor participates in the inactivation of mTORC1 during cell death.

The mammalian target of rapamycin complex 1 (mTORC1) is a highly conserved protein complex regulating key pathways in cell growth. Hyperactivation of mTORC1 is implicated in numerous cancers, thus making it a potential broad-spectrum chemotherapeutic target. Here, we characterized how mTORC1 responds to cell death induced by various anticancer drugs such rapamycin, etoposide, cisplatin, curcumin, staurosporine and Fas ligand. All treatments induced cleavage in the mTORC1 component, raptor, resulting in decreased raptor-mTOR interaction and subsequent inhibition of the mTORC1-mediated phosphorylation of downstream substrates (S6K and 4E-BP1). The cleavage was primarily mediated by caspase-6 and occurred at two sites. Mutagenesis at one of these sites, conferred resistance to cell death, indicating that raptor cleavage is important in chemotherapeutic apoptosis.

Arrêt du Conseil d'Etat qui ordonne qu'en payant par le sieur Prévost de Serainville la somme de 6.000 l. et les 2 sols pour livre pour l'acquisition d'un office de secrétaire du Roi, il sera déchargé de toutes taxes pour la recherche de la noblesse

[Acte. 1714-01-16. Versailles]

Arrêt du conseil d'Etat au sujet des offices donnés en paiement des taxes de la chambre de justice

[Acte. 1717-06-19. Paris]

Arrêt du conseil d'Etat qui nomme des commissaires pour procéder au jugement des oppositions formées au sceau des provisions des offices reçus en paiement des taxes des gens d'affaires ; à la liquidation des dettes privilégiées et à l'ordre des créanciers

[Acte. 1717-07-03. Paris]

Arrêt du conseil d'Etat qui règle les formalités pour la vente et l'expédition des provisions des offices de conseillers-secrétaires du roi et autres qui ont été ou seront reçus en paiement des taxes de ceux qui auront été compris dans les rôles arrêtés au conseil, en exécution de la déclaration du 18 sept. 1716

[Acte. 1717-08-18. Paris]

Arrêt du conseil d'Etat concernant les offices donnés en paiement des taxes de la chambre de justice

[Acte. 1717-09-04. Paris]

Arrêt du conseil d'état qui ordonne que les deniers qui sont entre les mains des receveurs des consignations, fermiers judiciaires, séquestres et dépositaires, serviront à acquitter les arrérages et le rachat des taxes pour l'entretien des boues et lanternes de Paris

[Acte. 1758-05-08. Versailles]

Arrêt du grand conseil portant règlement pour le rôle des taxes de la procure générale de l'ordre de Cluny

[Acte. 1744-02-05. Paris]