These are the completed reports from volunteer working parties and are shown by practice area

Faculty Research Groups | Enterprise Risk Management | Finance and Investment | General Insurance Research Organising Committee (GIRO) | Health and Care | Life Assurance | Pensions |

Faculty Research Groups - David Hare (tel: 0131 245 0632, e-mail: David_Hare@standardlife.com).

Investment Research Group - Completed 2003
Assessing the effects of buybacks on investment trust discounts

Membership
Chair: Brian Moretta
Other members: Andy Adams, David Bowie, Phil Cresswell, Frank Devlin, Roddy Macpherson

Corporate diversity and the provision of financial services - Completed 2002
Corporate diversity and the provision of financial services (in: BAJ 8(4) (2002) p.643-704)

Membership
Chair: David Hare
Other members: Philippe Guijarro

Enterprise Risk Management Practice Executive Committee - Mark Symons (tel: 020 7632 2133, e-mail: mark.symons@actuaries.org.uk).

Ancillary and Residual Risks in VA's - Completed 2008
Residual and ancillary risks in VA guarantees

Membership
Chair: James Maher
Other members: Tamsin Abbey, Catherine Henshall, Colin Murray

Complexity economics - application and relevance to actuarial work - Completed 2008
Complexity economics. Application and relevance to actuarial work
Agent-based modelling (handouts)

Membership
Chair: Andrew Slater
Other members: Andrew Smith, Nick Slater

Controlling the growth of your hedge - Completed 2008
Controlling the growth of your hedge. Draft Report
Controlling the growth of your hedge (handouts)

Membership
Chair: Stuart Jarvis
Other members: Peter Ridges, Anthony Earnshaw

Life Securitisation - Learning from the US and the Property and Casualty Sectors - Completed 2008
Securitisation of non-life insurance

Membership
Chair: Michael Eakins
Other members: Carmela Calvosa, Colm Guiry

Stress Tests for Investment Risks - Model Assumptions - Completed 2008
Components of yield curve movements. Illustrative worked examples

Membership
Chair: Ralph Frankland
Other members: Kieran Barnes, Enrico Biffis, David Dullaway, Andy Holtham, Ian Marshall, Andrew Smith, Elliott Varnell, Tim Wilkins

Finance and Investment Practice Executive Committee - Pat Rustem (tel: 020 7632 2187, e-mail: patricia.rustem@actuaries.org.uk).

Ancillary and Residual Risks in VA's - Completed 2008
Residual and ancillary risks in VA guarantees

Membership
Chair: James Maher
Other members: Tamsin Abbey, Catherine Henshall, Colin Murray

How valuable is liquidity? - Completed 2008
How valuable is liquidity?

Membership
Chair: Paul Stanworth
Other members: Paul Fulcher, Tom Durkin, Loveday Madzika, Ray Bennett, Sen Nagarajan

Life Securitisation - Learning from the US and the Property and Casualty Sectors - Completed 2008
Securitisation of non-life insurance

Membership
Chair: Michael Eakins
Other members: Carmela Calvosa, Colm Guiry

Stress Tests for Investment Risks - Model Assumptions - Completed 2008
Components of yield curve movements. Illustrative worked examples

Membership
Chair: Ralph Frankland
Other members: Kieran Barnes, Enrico Biffis, David Dullaway, Andy Holtham, Ian Marshall, Andrew Smith, Elliott Varnell, Tim Wilkins

Implementation of liability driven investment - Completed 2007
Practical implementation of liability driven investment (Slides)

Membership
Chair: Paul Fulcher
Other members: Mike Rogers, Jake D Ayers, Steven Catchpole, Richard Boardman, David Walsh, Charles Tatham, Adrian Lawrence, Alvar Chambers, Subodh Baid

Understanding the risks in new asset classes - Completed 2007
Paper

Membership
Chair: Christopher Chappell
Other members: Andrew Smith, Parit Jakhria, Adrian Lawrence

Derivative prices and market behaviour - Completed 2005
Derivative prices and market behaviour (slides)

Membership
Other members: Andrew Smith

Funding and asset allocation strategies - Completed 2005
Funding and asset allocation strategies - why firms and trustees behave as they do

Membership
Other members: Paul Sweeting

Hedge funds - Completed 2005
Hedge funds - examining the potential benefits and risks of hedge fund investing

Membership
Chair: Robert Howie
Other members: Shalin Bhagwan, Leon Beukes, Harjeet Cheema, Con Keating, Khurram Mirza, Ian Morley, Yasmin Saltuk

Liability Driven Benchmark Working Party - Completed 2005
Liability driven benchmarks for UK defined pension schemes

Membership
Chair: Alvar Chambers
Other members: Andrew Barnes, Matthew Barnes, Leon Beukes, David Dyer, Paul Fulcher, Malcolm Kemp, Adrian Lawrence, Charles Tatham, Natalie Winter

Modelling dependencies: an overview - Completed 2005
Modelling dependencies: an overview

Membership
Other members: Philippe Joubert, Martyn Dorey, Coomaren Vencatasawmy

The risk ridge - Completed 2005
The risk ridge

Membership
Other members: Martyn Dorey, Philippe Joubert, Coomaren Vencatasawmy

Stochastic volatility models: considerations for the lay actuary - Completed 2005
Stochastic volatility models: considerations for the lay actuary

Membership
Other members: Philippe Joubert, Coomaren Vencatasawmy

To hedge or not? - Completed 2005
To hedge or not?

Membership
Other members: Andrew Smith, Paul Stanworth, Ian Sykes

The value of intergenerational transfers within funded pension schemes - Completed 2005
The value of intergenerational transfers within funded pension schemes

Membership
Other members: Jiajia Cui, Frank de Jong, Eduard Ponds

Credit Risk Working Party - Completed 2004
Credit risk - an analysis and critique of methods of rating agencies

Membership
Chair: Paul Sweeting
Other members: Collette Christiansen, David Dyer, Alec Findlater, Paul Harbord, Philip Joubert, Emilios Markou, Manfred Maske, Colin Murray, Hui In Ng, Kerrigan Procter, Annie Tay

Critique of behavioural finance - Completed 2004
Applications of behavioural finance

Membership
Chair: Ian Sykes
Other members: Emanuele Ciampa, Philip Joubert, Colin Murray, Adrian Murrell, Nigel O’Sullivan, Wei-Chong Pan, Simon Pearse

Demand for DC Products Working Party - Completed 2004
Demand for DC products

Membership
Chair: Philip Garcia
Other members: Stephen Bridges, David Hargreaves, Tony Hewitt, Robert Howie, Hui In Ng, Hemal Popat, Valerie Slattery

Demand for Investment Classes Working Party - Completed 2004
Institutional demand for investment classes – is there a supply problem?

Membership
Chair: Hemal Popat
Other members: Jan Coetzee, Norbert Fullerton, Patrick Hewlett, Malcolm McIvor, Alan Pendleton

Dynamic hedging strategy of cash guarantees using portfolio insurance - Completed 2004
Dynamic asset allocation to hedge cash guarantees using revised option based portfolio insurance

Membership
Chair: Rachid Bouchaib

An exploration of property’s liability-matching qualities - Completed 2004

Membership
Chair: Guy Morrell
Other members: Gerald Blundell, Stephen Brown, Martin Cumberworth, Simon Jones, George Matysiak, Chris Waites, Andrew Walker, Natalie Winter

Fixed Interest Investment Working Party - Completed 2004
Fixed interest investment for life insurers – driven by investment principles or regulation?

Membership
Chair: Scott Eason
Other members: Sara Crouch, David Dyer, Alec Findlater, Paul Fulcher, Paul Jolly, Roshan Lachman, Kenneth W McGaughey, Alan Pendleton

Pricing and modeling business (not just financial institutions) - Completed 2004
Valuing businesses - the role of the actuary (slides)

Membership
Chair: Richard Jones
Other members: Norbert Fullerton, David Hargreaves, Noel Mulvihill, Ian Sykes

Autoregression and other artefacts in stochastic models - Completed 2003
Mean reversion and market predictability

Membership
Chair: Andrew Smith
Other members: Jon Exley, Tom Wright

Modelling Corporate Bonds for ALM Work Working Party - Completed 2003
Estimating the relative performance of equities and bonds over the next 25 years

Membership
Chair: Jon Exley
Other members: Andrew Smith

Value Measurement Steering Group - Completed 2003
Do actuaries know how to measure value?

Membership
Chair: Colin McLean
Other members: Sally Dixon, Chris Massey, John Pemberton, Martin Pike, Tim Sheldon, Tony Silverman, Chris Waites, Colin Wilson

Advances in Portfolio Risk Management Working Party - Completed 2002
Predicted tracking errors – the search continues

Membership
Chair: Mike Brooks
Other members: Leon Beukes, Dan Gardner, John Hibbert

Applications of Derivatives Working Party - Completed 2002
Applications of derivatives in life insurance

Membership
Chair: Colin Wilson
Other members: Andrew Cairns, Gareth Derbyshire, Dan Jelicic, Malcolm Kemp, Peter Ludvik, Derek McLean, Nigel O’Sullivan, Patrick Race, Chris Sandford

Commercial Real Estate Indices Working Party - Completed 2002
An analysis of the behaviour of commercial real estate indices

Membership
Chair: Philip Booth
Other members: Gian Luca Marcato, Gerge Matysiak, Martin Cumberworth, Gerald Blundell, Guy Morrell, Russell Pugh, Robert Ashurst, Stephen Brown, Chris Waites

The effects of buybacks on investment trust discounts - Completed 2002
Assessing the effects of buybacks on investment trust discounts

Membership
Chair: Brian Moretta
Other members: Andy Adams, Roddy MacPherson

Measuring and monitoring the effectiveness of asset allocation in the life and pension industries - Completed 2002
Monitoring the effectiveness of asset allocation decisions

Membership
Chair: Andrew Slater
Other members: Bobby Riddaway, Craig Gillespie, Aidan Burke, David Bowie, Robert Howie, Yakoub Yakoubov, Colin Wilson

Quantitative Techniques Working Party - Completed 2002
Demystifying active quant
Market neutral investing
The relative importance of industry and country influences

Membership
Chair: Dan Jelicic
Other members: Mike Brooks, Julie Griffiths, Stephen Holt, Simon Jagger, Malcolm Kemp, Paul Lavin, Joanna Munro, Chris Sandford, Colin Wilson

Really Long Term Investment Products Working Party - Completed 2002
Setting investment strategy for the long term: a closer look at defined contribution investment strategy

Membership
Chair: Robert Howie

Value Measurement Investment Working Party - Completed 2002
Common measures of value management: a work in progress paper

Membership
Chair: Colin McLean
Other members: Jeremy Board, Stephen Keane, Wynand Louw, Richard Rodriguez, Chris Waites, Martin White

Applications of bond portfolio management - Completed 2001
The sterling corporate bond market and its future development

Membership
Chair: Shyam Mehta
Other members: David Dyer, Thomas Garvey, Simon Jagger, Simon Jones, Antony Osborn-Barker, Bobby Riddaway, Nigel Taylor, Jeroen van Bezooyen

Applications of Financial Theory in Investment Management Working Party - Completed 2001
Pension funds and the UK economy

Membership
Chair: Jon Exley
Other members: Seth Armitage, Shyam Mehta, Andrew Smith, Cliff Speed, Jeroen van Bezooyen

Applications of Institutional Investment Topics Working Party - Completed 2001
Hedge funds for pension funds

Membership
Chair: Hugh Cutler
Other members: Gareth Derbyshire, Craig Gillespie, Robert Howie, Michael O'Brien, Thomas Paxton, Shyam Metha, Greg Wright

Applications of Performance, Portfolio Risk and Return Working Party - Completed 2001
The practicalities of budgeting, managing and monitoring investment risk for pension funds

Membership
Chair: Mike Brooks
Other members: David Bowie, Martin Cumberworth, Alastair Haig, Bernie Nelson

Applications of Stochastic Investment Models Working Party - Completed 2001
Consistent assumptions for multinational asset models

Membership
Chair: Andrew Smith
Other members: Keith Guthrie, Robert Howie, Peter Ludvik, Shyam Metha, Jeroen van Bezooyen

Mortgage Prepayment Risk Working Party - Completed 2001
A study of mortgage prepayment risk

Membership
Chair: Simon Perry
Other members: Stuart Robinson, John Rowland

Applications of Investment Manager Style Analysis Working Party - Completed 2000
Investment manager style analysis

Membership
Chair: Malcolm Kemp
Other members: Gareth Derbyshire, Alasdair Gill, Peter Ludvik, Malcolm McIver, Tony Osborn-Barker, Charles Tatham, Mark Richardson, Colin Wilson

General Insurance Research Organising Committee (GIRO): Contact - Peter Stirling (tel: 020 7632 2177, e-mail: peter.stirling@actuaries.org.uk).

EU Gender Directive - Completed 2007
EU Equality Directive and how it impacts actuaries

Membership
Chair: Camilla Bennett
Other members: David Wong, Richard Bretton, Dick Tulloch, Justyn Harding, Nathan Williams, Armoghan Mohammed, Simon Warsop, Grant Mitchell, George Orros, David Johnson

Open Source ICA Model - Completed 2007
Open Source ICA Model

Membership
Chair: Louise Pryor
Other members: Robin Taylor, Trevor Maynard, Nigel de Silva, Richard Holloway, Richard Percy, James Upson, Shadow - Sima Ruparelia, CAS observers/Members, James Chang, Chris Goss, Stephen Philbrick

Reinsurance Counterparty Credit Risks - Completed 2007
Reinsurance Counterparty Credit Risks

Membership
Chair: Mark Flower
Other members: Visesh Gosrani, Jason Lincoln, Pantelis Koulovasilopouos, Waifong Yip, Gillian James, Ian Cook, David Maneval, James Robinson, Craig Divitt, Mohamed Afify, Andy Clark, Alex Glencross

Reserving Pricing Uncertainty and Professionalism - Completed 2007
How life can go badly wrong and what lessons we can learn, or: Pricing, reserving, uncertainty and professionalism using some real data

Membership
Chair: James Widdows
Other members: Richard Rodriguez (EMB), Susan Macaulay (Markel International), Chloe Paillot (Deloitte), Talbir Bains (QBE Europe), Martin White (Equitas), Prit Hanspal (GenRe), Shadow - Simon Black

Catastrophe Modelling - Completed 2006
Catastrophe Modelling
Slides

Membership
Chair: Graham Fulcher
Other members: Hanna Kam, Gillian James, David Davies, Phil Archer-Lock

Data Quality Working Party - Completed 2006
Report of the Data Quality Working Party
Slides

Membership
Chair: Louise Francis
Other members: Stephen Rix, Simon Sheaf, Jenny Ross, Mark Rothwell, Jonathan Orbell, David Innes, Glen D’Souza

Embedding Capital Models in the Business - Completed 2006
Embedding capital models in the business
Slides

Membership
Chair: Alex Marcuson
Other members: Matthew Byrne, David Theaker, Gavin Hill, Steven Fisher, Loan-Anh Nguyen, Ian Hilder, Penny Shaw, Kartina Tahir Thomson

Energy Large Loss Analysis (ELLA) Working Party - Completed 2006
Energy large loss analysis (slides)

Membership
Chair: Tom Jowett
Other members: Richard Skelding, Kevin Wenzel, Jamie Reid, Joe Gopal, Franck Allaire, Justyn Harding, Andy Pinder

ERM in General Insurers (Joint with CAS) - Completed 2006
ERM in general insurance (slides)

Membership
Chair: Don Mango
Other members: Andrzei Czernuszewicz, Ofir Eyal, Paul Kaye, Raj Ahuja, Michael Tripp, Dix Roberts, Tony Brooke-Taylor, Matthew Ball, Franz Lathuillerie, Pablo Morales, Colin Kerley, Visesh Gosrani, Simon Margetts

Reinsurance Matters! - Completed 2006
Reinsurance pricing: practical issues and considerations
A review of papers relevant to non-life reinsurance (with a liability focus)
Questions
Slides
Feedback

Membership
Chair: Mark Flower
Other members: Jiten Voralia, Gurpreet Johal, Hazel Beveridge, Kate Angell, Roger Massey, Visesh Gosrani, David Maneval, Doug Collins, Ian Cook, Craig Divitt, Stuart Wrenn, Gillian James

Reinsurance Pricing Working Party - Completed 2006
Reinsurance pricing: practical issues and considerations

Membership
Chair: Mark Flower
Other members: Ian Cook, Craig Divitt, Visesh Gosrani, Andrew Gray, Gillian James, Gurpreet Johal, Mark Julian, Lawrence Lee, David Maneval, Roger Massey

Risk Margins Working Party - Completed 2006
General insurance reserves for accounting and solvency: incorporating provision for risk
Slides
Related letter

Membership
Chair: Mark Malone
Other members: Allan Kaufman, Peter Hinton, Asheet Ruparelia, Richard Evans, Luke Thomas

Software Use: What & How - Completed 2006
Actuaries excel: but what about their software?

Membership
Chair: Louise Pryor
Other members: Richard Evans, James Tanser, Neil Hilary, Kathryn Staff, Justin Skinner, Brian Foley

Toolkit (previously known as Maths toolkit for Actuaries) - Completed 2006
An actuarial toolkit. Introducing "The Toolkit Manifesto"
Slides
Related paper

Membership
Chair: James Orr & Trevor Maynard
Other members: Declan Lavelle, Tony Lovick, Anna Zlateva, Heidi Whitlow, Paul Hewett, Sie Lau, Dorian Hicks, Andreas Tsanakas, Nigel De Silva, Derek Bain, Richard Holloway, Tim Wilkins, John Harnett, Nick Myers

Treating Customers Fairly Working Party - Completed 2006
Treating customers fairly (slides)

Membership
Chair: Camilla Bennett
Other members: Chris Jelfs, Wendy Seago, Ryan Warren

Using the work of other professionals - Completed 2006
Using the work of other professionals
Slides

Membership
Chair: Andrew Newman
Other members: Tony Goodall, Helen Wilkinson

The application of strategic models to non-life insurance markets - Completed 2005
The application of strategic models to non-life insurance markets

Membership
Chair: Roger Massey
Other members: Veekash Badal, Matthew Ball, Mark Flower, Graham Fulcher, Sejal Haria, Mark Julian, Pengkee Ooi, Buu Truong, Graham White, Martin White, Richard Winter

Aviation Products Pricing Working Party (Subgroup of Aviation Pricing Working Party) - Completed 2005
Aviation products pricing

Membership
Chair: Luke Armitage
Other members: Franck Allaire, Daniel Sacks, Nita Patel, Veronique Grenon

Capital Allocation - Completed 2005
Capital allocation and risk measures in practice (slides)

Membership
Other members: Phil Archer-Lock, Cormac Bradley, Mark Cockroft, Tony Hartington, Nigel Hooker, Lars Hyllested, Malcolm Jewell, Colin Kerley, Krish Kistnassamy, George Maher, Richard Skelding, Kartina Tahir Thomson, Buu Truong, Anna Zlateva

Claims Inflation Working Party - Completed 2005
Claims Inflation Working Party report (slides)

Membership
Chair: Simon Sheaf
Other members: Simon Brickman, Will Forster

Duty of care for general insurance - Completed 2005
The actuary and street pricing (slides)

Membership
Other members: Kate O'Reilly, Charles Steenkamp, Michael Tripp

Effect of the Courts Act - Completed 2005
Periodical payments and the Courts Act

Membership
Chair: Anthony Williams
Other members: Fabrice Brossart, Doug Brown, Catherine Cernesson, Catherine Gwinnett, Sheree Howard, Simon Marks, Joe Monk, Jamie Reid, Gary Yeates

Entropy and Information. From Black Holes to Black Scholes - Completed 2005
Entropy and information. From Black Holes to Black Scholes (slides)

Membership
Chair: David Sanders
Other members: Wendy Hawes, Andrew Hitchcox, Natasha Regan, Richard Shaw

Estimation of Uncertainty in Reserves (GRIT) Working Party - Completed 2005
Estimating reserving uncertainty (slides)

Membership
Chair: Mohammad Khan
Other members: Colum D'Auria, Hanna Kam, Jennifer Kang, Christian Kortebein, Anita Morton, James Toller, James Upson

GRIT Working Party - Completed 2005
GRIT Consultation paper

Membership
Chair: Tony Jones
Other members: Chika Aghadiuno, Kate Angell, Mark Flower, Sejal Haria, David Johnson, Mohammad Khan, Christian Kortebein, Alex Lee, Jonathan Piper, Alpesh Shah, Christopher Spratt, James Upson, Steven Wilcox

Gulf of Mexico Offshore Energy Working Party - Completed 2005
Gulf of Mexico offshore energy (slides)

Membership
Other members: Justyn Harding, Tom Jowett, Julian Ross

ICA Guidance Note Working Party - Completed 2005
Working party summary (slides)

Membership
Chair: Andrew Hitchcox
Other members: Tony Brooke-Taylor, Stefan Claus, Phil Ellis, Gavin Hill, George Maher, Trevor Maynard, Annette Olessen, Nylesh Shah, Peter Tavner

A maths toolkit for actuaries - Completed 2005
A maths toolkit for actuaries, part I
A maths toolkit for actuaries, part II

Membership
Other members: Trevor Maynard, James Orr, John Berry, Andreas Tsanakas, John Harnett, Will Bateman

Cycle survival kit II - Completed 2004
Cycle survival kit II (slides)

Membership
Chair: Kevin Wenzel
Other members: Philip Archer-Lock, Ian Hilder, Stuart Brown, Steven Fisher, David Simmons, Richard Doman

IAS and the effects of general insurance accounting - Completed 2004
International accounting standards for general insurance

Membership
Chair: Martin White
Other members: Gladys Hosken, Julian Leigh, Mark Malone, Alex Marcuson, Erica Nicholson, Tim Rogerson

Professional issues - Completed 2004
Professional issues (slides)

Membership
Chair: Andrew Newman
Other members: Neil Hilary, Mohammad Khan, Louise Pryor, Stephen Wilcox, Richard Winter

Statutory Actuarial Involvement in Non-Life Reserving - Completed 2004
Statutory actuarial involvement in non-life reserving - everything you ever wanted to know but were afraid to ask

Membership
Chair: Derek Newton
Other members: Richard Bulmer, Kendra Felisky, David Hindley, David Theaker

Stress and Scenario Analysis - Completed 2004
Stress and scenario analysis – risk assessment and quantification and use in the determination of capital

Membership
Chair: Richard Shaw
Other members: Philip Archer-Lock, Nigel Gillott, Natasha Regan, Oliver Tang

UK Asbestos - Completed 2004
UK asbestos - the definitive guide

Membership
Chair: Julian Lowe
Other members: Brian Gravelsons, Wendy Hawes, Sylwia Jakubowski, Anthony Kent, Andy Macnair, Darren Michaels, Anita Morton, David Sanders, Philip Towell, Andy Whiting, James Widdows, Anthony Williams

Clearer Communication Working Party - Completed 2003
Report of the Clearer Communication Working Party

Membership
Chair: Catherine Cresswell
Other members: Neil Hilary, Mark Malone, Jenny Wong

The Cycle Survival Kit - Completed 2003
The cycle survival kit: an investigation into the reserving cycle and other issues

Membership
Chair: Nicholas Line
Other members: Philip Archer-Lock, Steven Fisher, Ian Hilder, Shreyas Shah, Kevin Wenzel, Martin White

Developing Relationships with Underwriters Working Party - Completed 2003
Developing relationships with underwriters

Membership
Chair: Stuart Wrenn
Other members: Andrew Couper, Elizabeth Edwards, Patrick Grealy, Thomas Harris, David Hart, Susan Ley

Operational Risk Working Party - Completed 2003
Risk: measurement or bust
Report of the Operational Risks Working Party

Membership
Chair: Michael Tripp
Other members: Helen Bradley, Russell Devitt, George Orros, Gregory Overton, Louise Pryor, Richard Shaw

Pricing, Management and Control of Extreme Events Working Party - Completed 2003
The management of losses arising from extreme events (2002)
Extreme events, part 2 - Financial catastrophes: the overthrow of modern financial theory

Membership
Chair: David Sanders

Reliance on advice from other professionals - Completed 2003
Using the work of other professionals (summary)

Membership
Chair: Andrew Newman

APH Update and Issues Working Party - Completed 2002
APH - an update (slides)

Membership
Chair: David Slater
Other members: Jerome Kirk, Andrew Macnair, David Sanders, Simon Sheaf, Martin White

Aviation Insurance Working Party - Completed 2002
Aviation insurance

Membership
Chair: Justyn Harding

Claims Reserving Working Party - Completed 2002
Claims Reserving Working Party report

Membership
Chair: Graham Lyons

Cost of the Compensation Culture Working Party - Completed 2002
The cost of compensation culture

Membership
Chair: Julian Lowe

Customer Value Measurement Working Party - Completed 2002
Customer Value Measurement Working Party report

Membership
Chair: David Brown
Other members: Peter Bijl, Vincent Branch, Stephen Hill, James Hillon, Darren Michaels, Rudi Van Delm, Derek Newton

European Weather Derivatives Working Party - Completed 2002
European weather derivatives

Membership
Chair: Nick Ross
Other members: Nick Buckley, Alex Hamilton, Justyn Harding, Nicola Roche, Emma Sands, Richard Skelding, Nick Watford, Heidi Whitlow

Fair Value Accounting Working Party - Completed 2002
The implications of fair value accounting for general insurance companies
Fair value accounting risk margins (workshop summary)

Membership
Other members: Michael Brockman, Catherine Cresswell, Peter Hinton, Richard Monk, Erica Nicholson, Tony Silverman, Liam Storey, Gary Wells, Martin White

General Insurance Investment Strategies Working Party - Completed 2002
Investment strategy (slides)

Membership
Chair: Michael Eabry
Other members: Roger Boulton, Marian Dore, Justyn Harding, Sean Laird, Matthew Maguire, Shyam Mehta, Annette Olesen, Dimitris Papachristous, Richard Rodriguez, Jeff Sayers, Stephen Walker

House Insurance Working Party - Completed 2002
UK household: floods, inflation and under-insurance

Membership
Chair: Rob Cowley
Other members: Susan Ley, Heidi Whitlow

Investment strategies for general insurance companies - Completed 2002
Investment strategies for general insurance companies (slides)

Membership
Chair: Michael Eabry

Portfolio Transfers Working Party - Completed 2002
Loss portfolio transfers

Membership
Chair: Andrew MacNair
Other members: Neil Bruce, Sukie Harrar, Geoff Perry, Alessa Quane, Cheryl Russell, Lawrence Townley

Professional Indemnity and D&O - Pricing and Current Issues Working Party - Completed 2002

Membership
Chair: Henry Johnson
Other members: Baldeep Johal, Graham Lyons, Bill McConnell, James McPherson, Gaynore Moss, Stuart Shepley, David Slater, Jez Waite

Why Insurers Fail Working Party - Completed 2002
Insurance company failure

Membership
Chair: Roger Massey
Other members: Simon Harris, David Hart, Sukphal Harrar, Wendy Hawes, Debbie Law, Fergus Mackie, Clive Niven, Alan Westrip, James Widdows

Calculating Premium Monitoring / Rate Change Indicies Working Party - Completed 2001
Premium rating indices

Membership
Chair: Bill McConnell
Other members: Phil Archer-Lock, Talbir Bains, Peter Copeman, Alex Foord, Ian Hilder, Mike Keig, Steve Mathews, Michel Matthee, James Tanser, Martin White, Stephen Wilcox

Structured Settlements Working Party - Completed 2001
Report of the Structured Settlements Working Party

Membership
Chair: John Charles
Other members: Catherine Barton, Simon Black, François Boit, Catherine Cresswell, Phil Ellis, Alex Hamilton, Jim Maher, Jack Montgomery, Richard Philps, Nick Ross

Assessing Financial Strength of an Insurer Working Party - Completed 2000
Assessing the Financial Strength of Insurers Working Party report

Membership
Chair: Simon Harris
Other members: Kate Angell, Phil Archer-Lock, Gaynore Moss, Steve Patfield, Jeff Sayers

Aviation and Space Insurance Market Working Party - Completed 2000
Aviation and space insurance market

Membership
Chair: Justyn Harding
Other members: David Hart, Philip Tippin, James Widdows

Comparison of Technical Terms Working Party - Completed 2000
Comparison of terms used in non-life insurance in the US and UK (interim report, 1999)

Membership
Chair: Kevin Armstrong

Distribution Channels of the 21st Century Working Party - Completed 2000
Distribution channels of the 21st century

Membership
Chair: Michael Tripp
Other members: Ade Akinlajce, Shamit Biswas, Dick Cheeseman, Michael Eves, Steve Patfield, David Westcott

Employers' Liability Insurance Working Party - Completed 2000
Employers’ Liability Insurance Working Party report

Membership
Chair: Jefferson Gibbs
Nathan Williams
Other members: Catherine Barton, Gary Callan, David Slater, Mike Smith, Owen Whelan

General Insurance and the Public Interest Working Party - Completed 2000
General insurance and the public interest

Membership
Chair: Derek Newton
Other members: Kathy Byrne, Katie Carmona, Ian Clark, Martin Cross, Peter Hinton, Julian Leigh, Tony Silverman, Keith Taylor, Michael Tripp

Insurance, Games and Psychology Working Party - Completed 2000
Insurance, games and psychology

Membership
Chair: Julian Lowe
Other members: Nigel Carpenter, Conor Dolan, Nick Ross, John Wilson

Motor rating -current techniques and a personal injury claims analysis - Completed 2000

Membership
Chair: Duncan Anderson
Other members: Sheree Howard, Stephen Jones, Simon Kneller, Roger Massey, Natasha Regan, Alan Sausse, Jo Scott, James Tanser

Reinsurance to Close Working Party - Completed 2000
Report of the Reinsurance to Close Working Party

Membership
Chair: Simon Sheaf
Other members: Helen Bradley, Andrew Couper, Nigel Finley, Mark Graham, Justyn Harding, Shreyas Shah, Jose Vazquez

Shareholder Value Measures in General Insurance Working Party - Completed 2000
Shareholder Value Measures in General Insurance Working Party report

Membership
Chair: Richard Rodriguez
Other members: Richard Bland, Graham Fulcher, Richard Kelsey, Sean Laird, Richard Shaw

Health & Care Practice Executive Committee - Pauline Simpson (tel: 01865 268 237, e-mail: pauline.simpson@actuaries.org.uk).

How will Trastuzumab affect long term insurance - grant awarded of £4,768 - Completed 2007
The impact of medical advances and lifestyle on mortality

Membership
Chair: Principal Researcher: Professor Angus Macdonald - Heriot-Watt University

Equity Release Working Party - Completed 2005
Equity Release Report 2005

Membership
Chair: Ged Hosty
Other members: Caroline Gardner, Des Le Grys, Ruth Hancock, Mick McAteer, Alisdair MacDonald, Glenn Osgood, Paul Smee, Bob Wright, Jackie Bennett, Bernhard Bergman, Mark Joannes, Jon King

Public Expectations of Pension Provision Working Party - Completed 2005
Public expectations of pension provision

Membership
Chair: Peter Taylor-Gooby (Professor - University of Kent)

Family Policy Research Group - Completed 2004
More babies? Who needs them?

Membership
Chair: David Lewis
Other members: David Coleman, Dermot Grenham, Clare Hobro, Chris Lewin, George Orros, Brian Ridsdale

Financial Consumer Support Committee - Completed 2004
Consumer understanding of risk

Membership
Chair: Alan Goodman
Other members: Brian Murray, John Taylor, Ian Woods

Genetics and insurance - issues for social policy - Completed 2004
Genetics and insurance - some policy issues
Current issues in genetics affecting health insurance (slides)

Membership
Chair: Chris Daykin
Other members: Debbie Akers, Tony McGleenan, Angus Macdonald, David Paul, Peter Turvey, Neil Robjohns

Long-term care working party - Completed 2004
The comparative effects on UK public expenditure of implementing long-term care systems as practised in Japan, Germany and Sweden

Membership
Other members: Martin Karlsson, Les Mayhew, Robert H Plumb, Ben Rickayzen

Care vs Cash Working Party - Completed 2003
Cash not care - the salvation of health insurance?
Private medical insurance - UK vs the Republic of Ireland (slides)

Membership
Chair: George Orros
Other members: Aongus Loughlin, Sue Cross, Peter Gatenby, Michael Moliver

Pension Provision Taskforce - Completed 2003
The size of the state pension

Membership
Chair: David Lewis
Other members: Deborah Cooper, Aidan Smith

State Pension Age Working Party - Completed 2003
W(h)ither state pension age?

Membership
Chair: David Lewis
Other members: Deborah Cooper, Aidan Smith

Critical Illness Working Party - Completed 2001
Critical illness cover – the future: qualitative research amongst policyholders

Membership
Other members: Peter Mannion

Health Data Working Party - Completed 2001
Private Medical Insurance Module (slides)

Membership
Chair: Robert Plumb
Other members: Hamish Fisher, Edward Levay, Peter McGurk, Steve McIntosh

IP - Trends by Cause (Terminations) Working Party - Completed 2001
Zip file

Membership
Chair: David Wilkie
Other members: Terry Coulthard, Ian Moran, Carl Northover

The NHS Plan - Completed 2001
The NHS: the view from above and the way forward

Membership
Chair: Martin Hewitt

CI - Experience Analysis and Standard Tables Working Party - Completed 2000
A critical review

Membership
Chair: Azim Dinani
Other members: Dave Grimshaw, Neil Robjohns, Stephen Somerville, Alasdair Spry, Jerry Staffurth

Equity Release Mechanism Working Party - Completed 2000
Report on Equity Release Mechanisms

Membership
Chair: Des Le Grys
Other members: multi-disciplinary group - refer to Peter Dingwall

Group PMI Working Party - Completed 2000

Membership
Chair: David Alexander
Other members: Tony Brooke Taylor, Tony Cox, Rhys Evans, Neil Hilary, Shrootin Shah

Guarantees Working Party - Completed 2000

Membership
Chair: Brian Paton
Other members: Gary Collier, Carl Northover

Integration with NHS Working Party - Completed 2000

Membership
Chair: John Coss
Other members: Shafique Bhunnoo, Susan Dreksler, Stephen Evans, Edward Levay, Ian Sissons

IP - Solvency of IP Portfolios Working Party - Completed 2000

Membership
Chair: Ben Rickayzen
Other members: Zoltan Butt, Robert Chadman, Steven Haberman

Public/Private Issues Working Party - Completed 2000

Membership
Chair: David Gulland
Other members: Brian Bussell, Monica Cornall, Des Le Grys

Life Practice Executive Committee - Pauline Simpson (tel: 01865 268 237, e-mail: pauline.simpson@actuaries.org.uk).

Risk management practices in life assurance - Completed 2008
Liquidity management in UK life assurance
Risk management by UK life assurers: a survey
Liquidity risk in life insurance

Membership
Chair: Chris O'Brien
Other members: David Bartlett, Mark Chaplin, Kevin Dowd, Jim Ewing, Patrick Kelliher

Modelling the short-term dependence between two remaining lifetimes of a couple - grant awarded of £9,941 - Completed 2008
Membership
Chair: Principal Researcher: Dr Jaap Spreeuw - Cass Business School
Other members: Mr Xu Wang - Cass Business School - Research Assistant

Treating Customers Fairly - Completed 2007
Treating life customers fairly (slides)
Treating life customers fairly (SIAS paper)

Membership
Chair: Jerry Staffurth
Other members: Steve Dixon, John Elwood, Dave Grimshaw, Alan Morris, Ashley Rebello, Phil Morris

Consumption strategies with local properties - Completed 2006
Presentation
Consumption processes and positively homogeneous projection properties

Membership
Chair: Principal Researcher: Tom Fischer – Heriot-Watt University

Life Operational Risk Working Party - Completed 2006
Quantifying operational risk in life insurance companies

Membership
Chair: Nick Dexter
Other members: Cameron Mills

Effective Treasury Management Working Party - Completed 2005
Treasury management for Life Companies: Insights from UK retail banks
Slides

Membership
Chair: Rolf Van den Heever
Other members: Guy Barton, Ian Carey, Tim James, Albi Morganti, Greg Solomon

Embedded values - Completed 2005
Current developments in embedded value reporting

Membership
Other members: Pat O'Keefe, Amish Desai, Kamran Faroughi, Gary Hibbett, Alan Maxwell, Sandy Sharp, Neil Taverner, Mike Ward, Frazer Willis

Life Individual Capital Assessment Working Party - Completed 2005
Report of the Life Individual Capital Assessment Working Party

Membership
Chair: Philippe Guijarro
Other members: Bryan Blunt, Christopher Daniel, Rob Green, Trevor Jones, Ruth Macdonald, Lorraine Paterson, David Stevenson

Management of Closed Funds Working Party - Completed 2005
Management of closed funds

Membership
Chair: Julie Pallister
Other members: Andy Burke, Andrew Holtham, Peter Morris, Tim Pindar, Geoff Ross, Alastair Smith, Andrew Walton, Andrew Wells, Stuart Wilkinson

Risk management in the financial services industry in relation to regulatory changes on capital adequacy - Completed 2005
Risk management other industries (slides)

Membership
Chair: Mark Train

Investment Strategy Working Party - Completed 2004
With-profits investment strategy

Membership
Chair: Tony Spiers
Other members: Jon Exley, Tim Harris, Trevor Maynard, Colin Wilson

Understanding the implications of PSB capital categories to life companies - Completed 2004
Alternative forms of capital available to life companies

Membership
Chair: Icki Iqbal
Other members: Clare Beale, Rolf van den Heever, Tim James, David Joyce, Paula Kelly, Mark Versey

Principles and Practices of Financial Management Working Party - Completed 2003
PPFM - from consultation to practice (slides)

Membership
Chair: Rob Kerry
Other members: Andy Carr, Jan Coetzee, Simon Fraser, Trevor Maynard

Actuarial Governance Working Party - Completed 2002
Actuarial governance: a discussion paper
The current role of the appointed actuary function in life offices
Developing the appointed actuary system

Membership
Chair: Peter Needleman
Other members: Andrew Chamberlain, Adrian Eastwood, William Hewitson, Adrian Saunders, Mike Shelley

Control Processes Working Party - Completed 2002
Report of the Control Processes Working Party

Membership
Chair: John Lister
Other members: Andrew Chamberlain, John Hylands, Mike Kipling

Customer Value Working Party - Completed 2002
Managing the money (in: The Actuary September (2002) p.18-19)

Membership
Chair: David Gott
Other members: Amish Desai, Matthew Ford, David Pond, Tim Thornham, John Whitworth

Customers' Interests Working Party - Completed 2002
Report of the Customers’ Interests Working Party

Membership
Chair: Stuart Thompson
Other members: Doug Bright, John Cummings, Rajeev Shah

Life Assurance Value Measurement Working Party - Completed 2002
Summary and comparison of approaches used to measure life office values

Membership
Chair: Michael Sheard
Other members: Lee Gentry, David Howell, Alan Mason, Shyam Mehta, Brian Purves, Andy Sharp, Anthony Stevens, Colin Wilson

Fair Valuation Working Party - Completed 2001
Fair valuation of liabilities (in: BAJ 8(2) (2002) p.203-340)

Membership
Chair: Chris Hairs
Other members: David Belsham, Norval Bryson, Malcolm Dann, Chris George, David Hare, Chris Headdon, Nigel Masters, Keith Miller, David Smith, Stuart Thompson

Financial Condition Reports Working Party - Completed 2001
Financial condition reports

Membership
Chair: Peter Carr
Other members: Will Adler, Amish Desai, Jonathan Malpas, Martin Pike, Andrew Walton, Paul Watson

Regulatory Capital for Financial Services Working Party - Completed 2001

Membership
Chair: Martin Muir
Other members: Andrew Chamberlain, Ian Moran, Simon Perry, Stuart Stocks, Craig Thornton

Transparency Of With-Profits Business Working Party - Completed 2001
Transparent with-profits - freedom with publicity (in: BAJ 7(3) (2001) p.365-465)

Membership
Chair: Graham Clay
Other members: Ralph Frankland, Tony Horn, John Hylands, Chris Johnson, Robert Kerry, John Lister, Ruth Loseby, Brian Newbould

Capital Management Working Party - Completed 2000
Demystifying capital management in the life assurance industry

Membership
Chair: John Gemmell
Other members: Graeme McAusland, Himesh Shah, Nigel Silby

Distribution of Financial Services Working Party - Completed 2000
Distribution of Retail Financial Services Working Party report

Membership
Chair: Icki Iqbal
Other members: David Graham, Paul Shallis, Raine Simcox

Reserving for Expenses Working Party - Completed 2000

Membership
Chair: Locksley Smaller
Other members: Paul Collis, Jeremy Dunn, Steven Kelly, Mike Kipling, James Marshall, John Stocks

Resilience Reserves Working Party - Completed 2000
Resilience Reserves Working Party report

Membership
Chair: Mike Urmston
Other members: Alastair Black, Robert Chadburn, Andrew Chamberlain, Ralph Frankland, Bob King, Tim Orton, Mick Sheard

With Profit Bond Working Party - Completed 2000
Report of the With Profit Bond Working Party

Membership
Chair: Adrian Saunders
Other members: Alastair Clarkson, John Dickson, Kevan Fogg, Harish Gohil, Martin Palmer, Andy Sanders, Rocco Sepe, Craig Thornton

Pensions Practice Executive Committee - Martin Hewitt (tel: 020 7632 2185, e-mail: martin.hewitt@actuaries.org.uk

The management of the discontinuance of large defined benefit schemes - Completed 2004
The management of the discontinuance of large defined benefit schemes

Membership
Chair: Geoff Booth
Other members: Russell Agius, Dennis Canham, Ralph Frankland, Lawrence Jackson, James Miller, Neil Wharmby, Brian Wilson, Costas Yiasoumi

Stochastic Pensions Valuations and the Assessment of Funding Risk Working Party - Completed 2003
A stochastic approach to risk management and decision making in defined benefit pension schemes (in: BAJ 9(3) (2003) p.493-618)

Membership
Chair: Steven Haberman
Other members: Christopher Day, David Fogarty, Zaki Khorasanee, Adrian Lawrence, Martin McWhirter, Nichola Nash, Cliff Speed, Douglas Wright, Yakoub Yakoubov

The effects of a prolonged period of low inflation and gilt returns - Completed 2000
Pensions and low inflation (in: BAJ 6(3) (2000) p.547-619)

Membership
Chair: Paul Meredith
Other members: Jill Harrison, Nick Horsfall, Ken Kneller, James Knight, Beverley Morgan, Richard Murphy

Income Withdrawal Working Party - Completed 2000
Income Drawdown Technical Notes

Membership
Chair: Jeff Weeder
Other members: John Cook, Colin Mellis, Michael Moloney, Alan Roberts, Patrick O'Sullivan, Alan Stockbridge, Adrian Turner

MFR Transfer Values Working Party - Completed 2000
Review of the minimum funding requirement (summary)

Membership
Chair: Philip Moores
Other members: Douglas Anderson, Andrew Bryans, Paul Estcourt, Huw Evans, Rajen Shah

Research grant award

Carers and the management of financial assets in later life - Completed 2006

Membership
Other members: Applicants: – Social Policy Research Unit at University of York, Professor Caroline Glendinning, Dr Hilary Arksey, Dr Michael Hirst, Anne Corden

Risk assessment and management in a life insurance company; fair value reporting system and Solvency II - Completed 2006

Membership
Other members: Applicant: Dr. Laura Ballotta - Cass Business School, City University

Stochastic loss reserving based on a unified model of paid losses and case estimates - Completed 2006

Membership
Other members: Dr Greg Taylor - Taylor Fry Consulting Actuaries

Extensions to investigation of the influence of socio-economic status on morbidity status for dread and chronic diseases - Completed 2005

Membership
Other members: Dr Leslie Mayhew – Cass Business School, City University