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Paper and presentation archive 2008

Writing business at point of sale. The future? (handouts)
General insurance pricing seminar, 13 June 2008. Chairman's welcome and introduction

2008 Healthcare Conference

CMI Critical illness investigation

Actuarial Quality Open Forum, 16 September 2008

Promoting actuarial quality / Monitoring and scrutiny of actuarial work

Ageing population interest group and ILC UK conference

Choosing population projections for public policy conference. Welcome address.
Communicating uncertainty. How policymakers can have a range of uncertainty explained to them.

Ageing population member interest group and ILC UK conference

Coping with uncertainty and disagreement when projections are used for decision making.
Future mortality improvement: an actuary's perspective
Life expectancy: how certain are we about future trends and what is driving them?

Ageing population member interest group and ILC UK conference.

Forecasting mortality using the market

Choosing population projectsion for public policy seminar, 29 October 2008

Future mortality improvement: an actuary's perspective

Current issues in critical illness seminar, 10 December 2008

Future [broker] sales process for critical illness

Current Issues in General Insurance seminar 2008

Embedding ICA in the organisation. A risk manager's perspective (handouts)
FSA Update
Implications of sub-prime for non-life insurance

Current issues in general insurance seminar, 19 May 2008

Responses to the soft market (handouts)

Current issues in life assurance (CILA) seminar, 30 May 2008

Impact of credit markets - Life Office perspective

Current Issues in Life Assurance (CILA), 30 May 2008

Current issues in life assurance (handouts)

Current issues in life assurance seminar, 30 May 2008

Solvency II - Update
Alternative sources of capital: ISPV (handouts)
Challenges of the UK capital regime (handouts)
Dear CEO letter on with profits (handouts)
Alternative sources of capital (handouts)
Solvency II - Update
Global economic outlook

Current issues in pensions seminar, 25 November 2008

Pension Protection Levy: Developments this autumn
Pension Protection Levy: Developments this autumn

Current Issues in Pensions seminar, Spring 2008

Developments in investment products and alternative investment classes (handouts)
The impact of pension schemes on M&A in the UK (handouts)
Clearance - the Pensions Regulator's perspective (handouts)
The developing buy-out market (handouts)
Clearance – the Pensions Regulator’s perspective
Member options
Member options (handouts)
Member options - commutation factors and enhances transfers
The developing buy-out market (handouts)
The developing buy-out market (handouts)
Clearance - the Pensions Regulator's perspective (handouts)

Designated Professional Body seminar, 30 April 2008

Complaints handling
Complaints handling (slides)
Developments in the DPB and licensing issues (slides)
Perimeter issues (slides)
Money laundering update (slides)

Developments in pensions law and regulation seminar, 20 October 2008

An introduction and views on key recent pensions developments

Finance and Investment networking evening, 12 May 2008

The role of the CRO in Enterprise Risk Management [mp3 sound file]
The role of the CRO in Enterprise Risk Management
The role of the CRO in Enterprise Risk Management

Finance and Investment networking evening, 16 April 2008

Where theory and practice are not always the same: Earning LIBOR on cash is easy - isn't it? (MP3 sound file)
Where theory and practice are not always the same Earning LIBOR on cash is easy - isn't it?

Finance and Investment networking evening, 20 February 2008

Portfolio construction - the impact of the credit crunch [mp3 sound file]
Is any early end to the credit crunch in sight?

Finance and Investment Networking evening, 20 February 2008

Portfolios after the fun

Finance, Investment and Risk Management Conference 2008

How much of hedge fund returns are market related. The hedge fund landscape
SWAPS and SWAPTIONS Interest rate risk exposures
When theory and practice are not always the same. Earning Libor on cash is easy - isn't it?
Longevity hedging via the capital markets (slides)
Holiday reading for actuaries (handouts)
Market consistent discounting. Interim report of the Market Consistent Valuation Working Party
The market value of pension liabilities (handouts)
Commodities: A strategic asset allocation [handouts]
Agent-based modelling (handouts)
Economic capital models for Basel/Solvency II, Pillar II
Modern approaches to financing pension commitments (handouts)
Controlling the growth of your hedge. Dynamic Investment Strategies Working Party (handouts)
Annuities and aggregate morality risk: mountains out of molehills (handouts)
Extreme events deriving tail probabilities for economic distributions relevant to individual capital assessents
Components of yield curve movements. Illustrative worked examples. An Interim Report of the Stress Test Working Party
Complexity economics. Application and relevance to actuarial work
Alternative beta strategies: A new paradigm to the hedge fund industry
How valuable is liquidity? Working Party Paper
Catastrophe risk financing under changes in hurricane activity (handouts)
Controlling the growth of your hedge. Draft Report of a Working Party on Dynamic Investment Strategies
Longevity hedging via the capital markets (handouts)
Discount rates for valuation, including taking account of liquidity

Financial reporting seminar, 23 October 2008

Actuarial forms

General Insurance (GIRO) Convention 2008

GI ROC Effectiveness of Reserving Methods Working Party
Paramenter, data and model uncertainty

General Insurance Convention 2008

2: History of Securitisation Sub-Group
7. Other Non-life Risks and Assets Sub-Group
Demand Modelling Working Party (summary)
Irish issues (Handout)
The opportunities and hazards of being a lone actuary. Report of the Working Party to GIRO 2008
3: Zero Beta Assumption Sub-Group
The implication of the underwriting and reserving cycles for reserving [slides]
Integrating pricing and capital modelling
4: Basis Risk Sub-Group
Under the shadow of Mt Vesuvius (handout)
Integrating pricing and capital modelling. Appendix - Survey results
5: Lessons from the Sub-Prime Sub-Group
6: Regulatory Regimes Sub-Group
Reserving Oversight Committee (ROC) Working Party paper: Reserving uncertainty
Predictive modelling techniques in commercial lines pricing
To be discontinued .... A run-off update
Free market pricing. Working Party report
Variable capital loads
Subprime ... impacts for capital assessment
Claims inflation: A research programme supported by the Actuarial Profession
Demand Modelling Working Party (slides)
Variable capital loads in pricing. Working Party Report
Reserving risk: make the invisible visible!
The general insurance market in Italy and the actuarial challenges. (slides)
1: Brief introduction to securitisation
Modelling aggregate non-life underwriting risk: Standard formula vs internal model (slides)
Masala, monsoons and mathematical models; working as an actuary in India (Handout)
The Insurance Industry steps forward under the flag of Deng Xiao PIng. (Handout)
Floods in Europe. From weather conditions to insurance. (Slides)
Solvency II - Update from the CEA. (handout)
The road to Solvency II. A business perspective. (Handout)
Actuarial aspects of internal models under Solvency II. (Handout)
Claims reserve adequacy in the context of capital modelling and ILS: A rating agency's perspective. (slides)
Current insurance opportunities and issues in the Middle East and North Africa (MENA) region. (Slides)
Increasing the relevance of risk tolerance to organisations today.
Introduction to Solvency II. (Slides)
Our industry - 5 years on. (Slides)
Robotic reserving. (slides)
Solvency II - diversification (handout)
Use and abuse of reinsurance under IFRS Phase II (handout)
Actuarial models and the real world (handout)
Granular loss modelling
Insurance linked securities - rating agency approach and case study (handout)
Lloyd's issues (handout)
Operational risk. Bending the tail of the dragon (handout)
Price optimisation: successful practical implementation. (Handout)
Reserve variability - a case study. (Handout)
Subprime .... impacts for capital assessment. (Handout)
Technical (yet practical) reserving tools for a cyclical market. (handout)
What is the risk-free rate? (Slides)
Lime Street, Wall Street and Main Street. (Slides)
A practical study of economic scenario generators for general insurers. (Handout)
Captives - reserving, regulation and innovation in international financial centres. (Slides)
Economic risk and capital (ERCA) Working Party - Update. (handout)
Practical market value margins. (Slides)
Risk aggregation in a multi-line, multi-entity group. (Handout)
The opportunities and hazards of being a lone actuary. (Handout)
The post Solvency II world. What will your risk, finance and actuarial functions look like? (Slides)
UK Asbestos Working Party. (slides)
Trends in strategic restructuring and re-domestication in European insurers including the impact in, and the role of, actuaries. (slides)
UK Asbestos Working Party Update 2008
Uncertainty in short-term claims development (Handout)
We have lift off! From actuary to leader
A simple model of insurance market dynamics (slides)
Defence against the dark arts - a practical handbook for reserving actuaries (Handout)
GIRO Flood Risks Working Party
A mixing severity model incorporating three sources of data for operational risk quantification
The implications of the underwriting and reserving cycles for reserving
Demand Modelling Working Party (full report)
Reserving uncertainty (handout)
KPMG Internal Models working group (handout)
A stochastic framework for imcremental average reserve models. Example: R code implementing the approach
A stochastic framework for incremental average reserve models (slides)
A stochastic framework for incremental average reserve models
Factors affecting the price of catastrophe bonds (slides)
Irish issues 2008 (slides)
London market pricing in the soft market (slides)
Questioning the Black Box. Results and discussion from the Deloitte Reserving Process Survey (slides)
Stochastic loss reserving with the collective risk model (handout)
Theoretical and practical aspects of QIS4 (slides)
Risk appetite workshop (slides)
Solvency II advanced workshop (handout)
Sub-prime - background and reserving approaches (handout)
Commercial lines: Pricing in an imperfect world (handout)
General Insurance Practice Executive Committee Report (handout)
Personal lines pricing (slides)
Who killed the spark? (handout)
Defence against the dark arts. A practical handbook for reserving actuaries

General insurance pricing seminar, 13 June 2008

ISO industry data - how it works in the US and what might be done in the UK (handouts)
Understanding the customer value chain
Price optimisation - a European case study (handouts)
Predictive modelling for commercial insurance
Demand modelling in personal lines
Understanding the customer value chain
Practical pricing for commercial lines. An introduction (handouts)
Demand modelling in personal lines

General Insurance Pricing Seminar, 13 June 2008

Conflicting objectives. Putting commercial lines pricing in context (handouts)

General Insurance Pricing Seminar, 23 June 2008

What do London Market Actuaries price?

Healthcare Conference 14-16 May 2008

A year in progress (handouts)

Healthcare Conference 2004

Trends in critical illness risk costs - further lessons from population data

Healthcare Conference 2008

Income protection and the search for simplicity (handouts)
Glasses Ł30 ... (handouts)
Point of sale innovation. The view of progress
The tele interviewing proposition (handouts)
Did Methuselah need long-term care? (Will we?) (handouts)
Micro Insurance: Considerations for health and care (handouts)
Solvency II. A look at the current proposals and impact on health insurance
The changing distribution landscape and the impact on healthcare business (handouts)
Group IP - Regulatory developments (handouts)
Critical illness reviews - a marketing opportunity (handouts)
Income protection UK: Going for gold ... (handouts)
Income protection UK: Going for gold ... (handouts)
To tier or not to tier. This is the question? (handouts)
Current issues - Update on health insurance regulation in Ireland (handouts)
Critical illness reviews - a marketing opportunity (handouts)
Critical illness reviews - a marketing opportunity (handouts)
The Irish health care system (handouts)
Our future health secured? A review of NHS funding and performance since 2002 (handouts)
Still using a ruler to project the future?

Healthcare Conference, 14-16 May 2008

Separating the advice process and the application process (handouts)

Highlights of the 2007 Life Convention seminar

ICAS to Solvency II
The development of GMXB (Guaranteed Minimum Benefit) products (handouts)
Pension reform and life insurers
The longevity revolution
The longevity revolution
Tax in unit pricing (handouts)
The development of GMXB (Guaranteed Minimum Benefit) products (handouts)
The 'Credit Crunch'
Pension reform and life insurers

Investment strategy for pensions actuaries seminar, 11 April 2008

The case for infrastructure investing (handouts)
Hedge funds: industry update (handouts)
Investing in commodities (handouts)
Behavioural finance (handouts)
LDI (liability driven investment): Practical issues and risks

Life Convention 2008

Solvency II insights from key stakeholders
Enterprise risk management: A view from two Chief Risk Officers (Key Topics Workshop)
Aggregation and diversification benefits. ICA (Individual Capital Assessment) Working Party:
Transfer of Equitable's with-profits annuities to Prudential
Update from Working Party on Residual and Ancillary Risks in VA Guarantees
Professional negotiating
Update from Working Party on residual and ancillary risks in VA guarantees
How valuable is liquidity? (slides)
How valuable is liquidity? Liquidity Working Party report
Actuarial aspects on internal models under Solvency II
The Credit Crunch - Causes, consequences and cures
Why actuarial projects fail and what we can do about it

Life insurer taxation seminar, 12 June 2008

Tax modelling and planning
Introduction

Managing Fraud Risk: Process and Failures, 17 September 2008

Trading fraud. Lessons from SocGen and other catastrophes

Momentum 2008

Postcode ratings for mortality
The role of enterprise risk management in ratings
The role of enterprise risk management in ratings
Actuaries as humans
Actuaries as humans
The role of enterprise risk management in ratings
The role of enterprise risk management in ratings
The role of enterprise risk management in ratings
The role of enterprise risk management in ratings
The role of enterprise risk management in ratings
The role of enterprise risk management in ratings

Momentum Convention 2008

Did Methuselah need long-term care? (Will we?)

Mortality and longevity seminar, 15 April 2008

Extensions to the Lee-Carter model, including risk management in the age-period and age-period-cohort versions of the model
Alternatives to traditional buyout (handouts)
What might the future hold? The ageing process and the prospects for prolonging life expectancy (handouts)
Managing the uncertainty. Alternatives to traditional buyout (handouts)
The role of longevity indices and mortality derivatives (handouts)
Update on the latest work of the CMI (handouts)
The Cairns-Blake-Dowd Model (handouts)
Mortality Projections "By Cause" Research Group (handouts)

Mortality and longevity seminar, 8 April and 15 April 2008

Extensions to the Lee-Carter model, including risk measurement in the age-period and age-period-cohort versions of the model. Combined figures

Mortality experts meeting, 3 March 2008

Scoping mortality research. A consultation document

Mortality Experts meeting, 3 March 2008

Scoping multi-disciplinary research into mortality
Scoping mortality research. Report of the findings of the Mortality Developments Scoping Project
Living ever longer?

Mortaltiy and longevity seminar, 15 April 2008

New developments of the Lee-Carter model for mortality dynamics

Non-executive directors seminar, 14 October 2008

Issues for non-executive directors under the current regime - dos and don'ts

Open forum on the credit crunch: Practical consequences for actuaries, 10 September 2008

Credit crunch: Practical considerations for general insurance actuaries

Open Forum: Liquidity premia in the current environment

Liquidity premium open forum
Liquidity premium open forum
Liquidity premium open forum

Open Forum: Liquidity premia in the current market environment, 6 November 2008

Liquidity premia in the current market environment. [mp3 sound file]

Open Forum: Micro-insurance, 2 September 2008

Micro-insurance case study - a community owned health mutual fund

Open Forum: Modelling and matching inflation-linked benefits. 4 November 2008

Modelling and matching inflation-linked benefits (mp3 sound file)

Open Forum: Modelling and matching inflation-linked benefits. 4 November 2008

Modelling inflation-linked benefits

Open Forum: Solvency II, 4 March 2008

The EU and the application of Solvency II to Pensions - the role of the Pensions Regulator

Pensions Accounting Reform networking evening, 1 July 2008

Response from the Actuarial Profession
Pensions accounting reform
IASB Pensions Discussion Paper - a corporate perspective
IASB Pensions Discussion Paper - a corporate perspective. Appendix

Pensions Convention 2008

Recognising and dealing with conflicts: your clients', yours and everyone elses' (handouts)
The two different worlds. Why this is such a big issue at the moment (handouts)
Current issues in actuarial standards (handout)
Financial economics. Past, present and future (handouts)
Advising on pension and related benefit issues in corporate transactions (handout)
Buy out
Practicalities of entering the Pension Protection Fund (PPF) (handouts)
Future mortality - behind the numbers (handouts)
Does size matter? Scheme specific funding and small schemes

Solvency II 2008

Solvency II - 2008 (Slides)

The End of the Pension Scheme seminar, 25 November 2008

Data cleansing. A case study

Webinar, 3 September 2008

Cash equivalent transfer values (handouts)

With profits committees seminar, 14 October 2008

The future of with profits