Prizes
Prize awards - Memorial Prize Fund
At various times from 1856 to 1972 funds were set up to provide permanent income to be devoted to the award of prizes or grants by the Institute of Actuaries. In 1972 these funds were amalgamated into two funds, the Institute of Actuaries Memorial Prize Fund (the Prize Fund) and the Institute of Actuaries Memorial Education and Research Fund (the Research Fund).
The income and, if appropriate, the capital of the Prize Fund are to be applied in awarding prizes in connection with the examinations or for meritorious contributions to actuarial science.
Prizes for outstanding papers
From 2007, the prize for best paper has been known as the Peter Clark prize. In recent years prizes for outstanding papers have been awarded to the following:
2011-2012
N Cantle, N Allen, P Godfrey, Y Yin
A review of the use of complex systems applcied to risk appetite and emerging risks in ERM practice
The following paper was highly commended:
A Ritchie, J Corrigan, S Graham, A Hague, A Higham, J Holt, P Mowbray and H Robinson
Transforming consumer information
2010-2011
C A Cowling, R Frankland, R T G Hails, M H D Kemp, R L Loseby, J B Orr and A D Smith
Developing a framework for the use of discount rates in actuarial work
The following papers were highly commended:
G C Orros and J Smith
ERM for health insurance from an actuarial perspective
K Foroughi, C R Barnard, R W Bennett, D K Clay, E L Conway, S R Coldfield, A J Coughlan, J S Harrison, G J Hibbert,
I V Kendrix, M Lanari-Boisclair, C D O'Brien and J S K Straker
Insurance accounting: a new era?
2009-2010
R A Shaw, A D Smith and G S Spivak
Measurement and modelling of dependencies in economic capital
The following papers were highly commended:
P G Telford, B A Browne, E J Collinge, P Fulcher, B E Johnston, W Little, J L C Lu, J M Nurse, D W Smith and F Zhang
Developments in the management of annuity business
S Eason, W Diffey, R Evans, P Fulcher and T Wilkins
Does your hedge fund do what it says on the tin? Hedging strategies for insurers; effectiveness in recent conditions and regulatory treatment
2008-2009
R Frankland, A D Smith, T Wilkins, E Varnell, A Holtham, E Biffis, S Eshun and D Dullaway
Modelling extreme market events
J Buckle
Disease management programmes for major depression: making the financial case
The following paper was highly commended:
K A Morgan, D Brooks, R J Care, M B Chaplin, A M Kaufman, D N Roberts, J M E Skinner, D J K Huntington-Thresher, P J Tuley an D L Wong
Actuarial aspects of internal models for Solvency II
2007-2008
Andrew Adams and James Clunie
Risk assessment techniques for split capital investment trusts
AAS 1(1) (2006) 7-36
Two papers were highly commended:
Credit derivatives - report of the Working Party comprising Martin Muir, Andrew Chase, Paul Coleman, Paul Cooper, Gary Finkelstein, Paul Fulcher, Chris Harvey, Richard Pereira, Albert Shamash and Tim Wilkins.
BAJ 13(2) (2007) 185-256
Paul Sweeting
Modelling and managing risk
BAJ 13(3) (2007) 579-636
2006-2007
The Faculty prize for the best sessional paper was awarded to:
John Ellam, Jennifer Hartley, Joseph Lu, Stephen Makin, Keith Miller, and Stephen Richards
Two-dimensional mortality data: patterns and projections
Presented on 1 October 2007
2005-2006
The Faculty prize for the best sessional paper was awarded to:
David Blake, Andrew Cairns and Kevin Dowd
Living with mortality: longevity bonds and other mortality linked securities
Presented on 2 October 2006
Prizes for exam performance
A number of prizes are awareded for performance in the professional exams. See here for details of recent winners.
Medals and prizes book
A record of the medals and prizes awarded to members is contained in a book which is on display in the Council Chamber of the Institute. A full description of the book is contained in JIA 93.