9-11 November 2003, Hilton Birmingham Metropole Hotel
The following papers were presented at the 2003 Life Convention. Please note that most have been made available in two formats - as the original Powerpoint presentation, and in Adobe Acrobat format displaying three slides to a page.
Any queries about the Convention should be addressed to the Conference Department at e-mail: conferences@actuaries.org.uk.
The copyright in the content of the conference and seminar papers on this site may rest either with the authors or with the profession. Single copies may be downloaded for private study or research but more extensive copying requires the permission of the copyright owner. Should you wish to make multiple copies of any material please contact the Conference Department.
Monday 10 November 2003
| Session | Title/speaker | |
| Session A01 | Realistic balance sheets - a beginners guide [pdf] Richard Waller, Watson Wyatt Michel Abbink, Watson Wyatt |
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| Session A02 | A practitioners' discussion meeting on issues arising from the use of stochastic tools in risk management of a with-profits fund [pdf] Ralph Frankland, Norwich Union Slides [ppt] |
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| Session A05 | IAS - What needs to be done [pdf] Mukesh Mittal, PricewaterhouseCoopers Nigel Masters, PricewaterhouseCoopers Slides [ppt] |
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| Session A06 | Unlocking business benefits of US GAAP [pdf] Alan Twigg, KPMG Slides [ppt, 1 mb] |
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| Session A08 | Managing global business: the Irish market [pdf] Keith Parker, Canada Life Pamela Hagan, KPMG Slides [ppt] |
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| Session A09 | Why good data for us is good data for you! [pdf] Brian Valentine, GE Frankona Gary Collier, GE Frankona Slides [ppt, 1 mb] |
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| Session A10 | Management of a with-profit fund using option pricing techniques [pdf] Mark Willder, Heriot Watt University |
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| Session A13 | The integrated prudential sourcebook - an overview [pdf, 3.4 mb] Martin Lees, B&W Deloitte |
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| Session B01 | The realistic reporting of with-profits business [pdf] David Hare, Standard Life Ian Moran, B&W Deloitte Slides [ppt] |
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| Session B02 | The importance of being normal [pdf] Stephen Carlin, B& W Deloitte Andrew Smith, B&W Deloitte Slides [ppt] |
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| Session B03 | Developing a risk-based capital framework for a composite insurance group [pdf] Anthony Bice, Tillinghast-Towers Perrin Andy Holtham, AVIVA |
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| Session B05 | Is the UK life assurance market competitive? Evidence from companies' charges [pdf] Chris O'Brien, Centre for Risk and Insurance Studies, Nottingham University Business School |
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| Session B06 | Working with your auditors under the new regulations [pdf] John Jenkins, KPMG Derek Smith, KPMG Slides [ppt] |
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| Session B08 | Brandassurance and the virtual life office [pdf] Nigel Cooke, Mercer Oliver Wyman Neil Reynolds, Mercer Oliver Wyman Slides [ppt] |
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| Session B10 | Pension annuities - opportunity or trap? A provider perspective [pdf] Alec Findlater, Britannic Retirement Solutions Slides [ppt] |
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| Session B10 | Pension annuities - opportunity or trap? [pdf] Mike Wadsworth, Watson Wyatt Mark Joannes, Watson Wyatt |
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| Session B11 | Sandler, with profits and alternative structures [pdf] Ian Maidens, Tillinghast-Towers Perrin |
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| Session B12 | CANCELLED: Professional affairs and practising certificates This session was incorporated into the 'Hot Topics' session |
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| Session B13 | CANCELLED: The independent expert This session was cancelled |
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| Plenary 3 | A market fit for consumers [pdf] Laurie Edmans, Director of Corporate Development, AEGON UK, and Chairman, ABI Pensions and Savings Committee Slides [ppt, 1.7 mb] |
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| Session C01 | Realistic balance sheets, stress testing and internal capital assessment (ICA) - a case study [pdf] Barry Butler, Zurich Financial Services Paul Coulthard, B&W Deloitte Tim Sheldon, B&W Deloitte Slides [ppt] |
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| Session C03 | Risk management issues and solutions in the life industry [pdf] Paul Stanworth, Royal Bank of Scotland Huw Williams, Royal Bank of Scotland Slides [ppt] |
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| Session C04 | Brands in life assurance [pdf] Bob Gibson, Belgrave Consulting Paul Hately, Swiss Re Life and Health Slides [ppt] |
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| Session C05 | IASB's exposure draft and the profession's response [pdf] Mukesh Mittal, PricewaterhouseCoopers Ian Moran, B&W Deloitte Slides [ppt] |
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| Session C06 | From embedded value to economic value [pdf] Demos Papasavvas, B&W Deloitte Lance Burbidge Slides [ppt, 2 mb] |
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| Session C07 | Tax management and current issues [pdf] Paul Turnbull, Watson Wyatt Slides [ppt] |
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| Session C09 | Is it time for a review of guaranteed income protection? [pdf] Sue Elliott, Watson Wyatt Slides [ppt] |
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| Session C10 | Impaired annuities [pdf] Caroline Feaver, Hannover Life Re (UK) Joanne Wells, Hannover Life Re (UK) Slides [ppt, 4 mb] |
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| Session C11 | What impact will polarisation and extended regulation post-Sandler have on the design and distribution of protection products? [pdf] Ron Wheatcroft, Swiss Re Slides [ppt] |
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| Session C12 | The FSA Arrow risk assessment process [pdf] Philip Eaton, FSA Mike Kipling, Royal & SunAlliance Slides [ppt] |
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| Session C13 | Improved governance of with profits [pdf] Mike Urmston, Norwich Union Slides [ppt] |
| Session | Title/speaker | |
| Session D01 | Realistic balance sheets - the way forward [pdf] Peter Needleman, Tillinghast-Towers Perrin Mike Kipling, Royal & SunAlliance David Dullaway, Tillinghast-Towers Perrin |
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| Session D02 | Risk and capital assessment and supervision in financial firms [pdf] Seamus Creedon, KPMG Slides [ppt, 1 mb] Report [pdf] |
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| Session D03 | Risk management - a reinsurer's perspective [pdf] Andy Sharpe, Swiss Re Slides [ppt] |
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| Session D06 | Profit emergence under IAS [pdf] Brian Edey, Ernst & Young |
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| Session D07 | Tomorrow's leading actuarial function [pdf] John Cummings, PricewaterhouseCoopers Nick Parry, Zurich Financial Services Slides [ppt, 2.2 mb] |
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| Session D08 | Economic value management - a practical perspective [pdf] David Richardson, Swiss Re Slides [ppt] |
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| Session D10 | Annuitant mortality and longevity risk [pdf, 2.4 mb] Stephen Richards, Prudential Slides [ppt] |
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| Session D11 | Developments in the equity release market [pdf] Brian Morrissey, KPMG |
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| Session D12 | PPFM - from consultation to practice [Principles and practices of financial management] [pdf] Andy Carr, B&W Deloitte Rob Kerry, Norwich Union Life Slides [ppt] |
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| Session D13 | How to ensure that you have adequate systems and controls in place when using actuarial models [pdf] Mike Wilson, B&W Deloitte Asad Jafree, B&W Deloitte Slides [ppt] |
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| Session E01 | Stochastic Accreditation Working Party [pdf] Carl Douthwaite, Legal and General Slides [ppt] |
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| Session E03 | Practical issues and the implications of ICA [pdf] Martin Muir, Watson Wyatt Mark Chaplin, Watson Wyatt Slides [ppt] |
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| Session E04 | CANCELLED: Stochastic financial planning [pdf] This session was cancelled |
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| Session E05 | Restoring the credibility of embedded values [pdf] Kamran Foroughi, Tillinghast-Towers Perrin Paul Whitlock, Tillinghast-Towers Perrin |
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| Session E06 | Running a closed business - run-off solutions [pdf] Andrew Stoker, PricewaterhouseCoopers Andrew Walton, AMP Slides [ppt] |
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| Session E07 | Small life companies - a survival guide [pdf] Richard Baddon, Milliman UK Martin Werth, Munich Re Slides [ppt, 1.4 mb] |
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| Session E08 | CANCELLED: An overview of the US market - key developments This session was cancelled |
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| Session E09 | IP vs. BU? A comparison of the UK & German disability markets [pdf] Martin Langkjaer, GE Frankona Slides [ppt] |
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| Session E10 | A perspective on persistency [pdf] Philip Gwilt, Legal & General Slides [ppt] |
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| Session E11 | WRAPS: Strategic imperative or just the latest fad? [pdf] David Lomas, KPMG Financial Services Slides [ppt] |
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| Session E12 | The financial impact of reinsurance under the Prudential Sourcebook [pdf] James Hillman Jeff Davies, Swiss Re Slides [ppt] |
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| Session E13 | Practical issues from the PSB [pdf] Andrew Chamberlain, Watson Wyatt Slides [ppt] |
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| Session F06 | CANCELLED: Removing the public certification by the Appointed Actuary would be a retrograde step for consumer protection This session was cancelled |
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| Session G01 | CANCELLED: Comparison of realistic insurance valuation with economic capital models in banking This session was cancelled |
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| Session G02 | Realistic balance sheets: lessons from the FSA [pdf] Janice Barclay, PricewaterhouseCoopers Ben Rowe, FSA Slides [ppt] |
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| Session G03 | Capital management and financing including in financial reinsurance [pdf] Andrew Sanders, Watson Wyatt John Cliff, Swiss Re Slides [ppt] |
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| Session G04 | The impact on the UK savings industry of the Sandler Review [pdf] Jackie Wells, Deloitte David Gulland, B&W Deloitte Slides [ppt] |
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| Session G05 | Accounting developments [pdf] Peter Wright, Tillinghast-Towers Perrin |
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| Session G05 | Life assurance accounts: a survey of actuaries' views [pdf] Chris O'Brien, Centre for Risk and Insurance Studies, Nottingham University Business School Slides [pdf] |
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| Session G06 | Embedding risk based capital in an organisation: practical lessons [pdf] Mark Train, PricewaterhouseCoopers Philippe Guijarro, PricewaterhouseCoopers Slides [ppt] |
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| Session G08 | Selling into the UK from offshore [pdf] Paul Quirk, Friends Provident International Paul Downes, PricewaterhouseCoopers Slides [ppt] |
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| Session G09 | Future of CIC [critical illness cover] development - reviewability update [pdf] Azim Dinani, GE Frankona Re Slides [ppt, 2.5 mb] |
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| Session G10 | CANCELLED: Underwriting - managing the risks This session was cancelled |
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| Session G12 | Derivatives and regulatory capital [pdf] Martin Muir, Watson Wyatt Tim Wilkins Gary Finkelstein Slides [ppt] |
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| Session G13 | PPFM - implementation models [Principles and practices of financial management] [pdf] Matthew Murphy, KPMG Slides [ppt] |