THE RISK OF ASSET DEFAULT REPORT OF THE SOCIETY OF ACTUARIES C-1 RISK TASK FORCE OF THE COMMITTEE ON VALUATION AND RELATED AREAS

Abstract

This paper summarizes default experience on bonds from 1900 through 1987. Although the information is more extensive for publicly traded bonds, the paper includes ome information on private placements, ome of which is not otherwise available. It should constitute an appropriate reference for defaults and default losses.