Document library
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- Author:
- P J L O'Keeffe; A J Desai; K Foroughi; G J Hibbett; A F Maxwell; A C Sharp; N H Taverner; M B Ward; F J P Willis
- Source:
- British Actuarial Journal [BAJ] (2005) 11(3): 407-496
Current developments in embedded value reporting
This paper reviews the developments in reporting of traditional embedded value and summarises some of the reasons why this is now undergoing change. It considers the purpose of an embedded value calculation and the effect of differing attitudes to risk. ... read more >>
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- Author:
- A D Wilkie; M P Owen; H R Waters
- Source:
- British Actuarial Journal [BAJ] (2005) 11(2): 199-312
Notes on options, hedging, prudential reserves and fair values
In this paper we present many investigations into the results of simulating the process of hedging a vanilla option at discrete times. We consider mainly a `maxi' option (paying Max(A, B)), though calls, puts and `minis' are also considered. We show the ... read more >>
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- Author:
- I Iqbal
- Source:
- British Actuarial Journal [BAJ] (2005) 11(1): 133-182
Effective decision making in a life company
In the recent past life companies have made many decisions which they have had cause to deeply regret. This paper looks at the range of decision making theories available. It then examines recent examples of decisions that had unfavourable consequences ... read more >>
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- Author:
- Life Board
GN22: Disclosure - FSA rules. Version 2.2 [adopted by BAS on 19 May 2006]
This life insurance Guidance Note has been adopted by the Board for Actuarial Standards. The latest version is available on the <a href\="http://www.frc.org.uk/bas/actuarial/index.cfm" target\="external">BAS website</a>. MAP/GN22 V2.2 B22.1 ... read more >>
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- Author:
- Professional Affairs Board
GN1: The prudential supervision in the UK of long-term insurance business. Version 6.2 [adopted by BAS on 19 May 2006]
This life insurance Guidance Note has been adopted by the Board for Actuarial Standards. The latest version is available on the <a href\="http://www.frc.org.uk/bas/actuarial/index.cfm" target\="external">BAS website</a>. MAP/GN1 V6.2 B1.1 ... read more >>
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- Author:
- Life Board
GN40: The role of the actuarial function holder. Version 1.0 [superseded by version 1.1 prior to coming into effect on 31 Dec 2004]
This life insurance Guidance Note has been adopted by the Board for Actuarial Standards. The latest version is available on the <a href\="http://www.frc.org.uk/bas/actuarial/index.cfm" target\="external">BAS website</a>. MAP/GN40 V1.0 B40.1 ... read more >>
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- Author:
- Life Board
GN45: Determining with-profits insurance capital component. Version 1.1
This life insurance Guidance Note has been adopted by the Board for Actuarial Standards. The latest version is available on the <a href\="http://www.frc.org.uk/bas/actuarial/index.cfm" target\="external">BAS website</a>. MAP/GN45 V1.1 B45.1 ... read more >>
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GN7: The role of actuaries in relation to financial statements of insurers and insurance groups writing long-term business and their relationship with auditors. Version 3.1 [adopted by BAS on 19 May 2006]
This life insurance Guidance Note has been adopted by the Board for Actuarial Standards. The latest version is available on the <a href\="http://www.frc.org.uk/bas/actuarial/index.cfm" target\="external">BAS website</a>. MAP/GN7 V3.1 B7.1 ... read more >>
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- Author:
- Life Board
GN46: Individual capital assessment. Version 1.1 [adopted by BAS on 19 May 2006]
This life insurance Guidance Note has been adopted by the Board for Actuarial Standards. The latest version is available on the <a href\="http://www.frc.org.uk/bas/actuarial/index.cfm" target\="external">BAS website</a>. MAP/GN46 V1.1 B46.1 ... read more >>
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- Author:
- Life Board
GN47: Stochastic modelling for life insurance reserving and capital assessment. Version 1.1 [adopted by BAS on 19 May 2006]
This life insurance Guidance Note has been adopted by the Board for Actuarial Standards. The latest version is available on the <a href\="http://www.frc.org.uk/bas/actuarial/index.cfm" target\="external">BAS website</a>. MAP/GN47 V1.1 B47.1 ... read more >>
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- Author:
- Life Board
GN8: Additional guidance on the valuation of long-term insurance business. Version 7.1 [adopted by BAS on 19 May 2006]
This life insurance Guidance Note has been adopted by the Board for Actuarial Standards. The latest version is available on the <a href="http://www.frc.org.uk/bas/actuarial/index.cfm" target="external">BAS website</a>. MAP/GN8 V7.1 B8.1 ... read more >>
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- Author:
- Life Board
GN42: The reviewing actuary. Version 1.0 [adopted by BAS on 19 May 2006]
This life insurance Guidance Note has been adopted by the Board for Actuarial Standards. MAP/GN42 V1.0 B42.1 GN42: The Reviewing Actuary Classification Practice Standard MEMBERS ARE REMINDED THAT THEY MUST ALWAYS COMPLY WITH THE PROFESSIONAL ... read more >>
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- Author:
- Life Board
GN43: The role of the appropriate actuary. Version 1.0 [adopted by BAS on 19 May 2006]
This life insurance Guidance Note has been adopted by the Board for Actuarial Standards. The latest version is available on the <a href\="http://www.frc.org.uk/bas/actuarial/index.cfm" target\="external">BAS website</a>. MAP/GN43 V1.0 B43.1 ... read more >>
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- Author:
- Life Board
GN40: The role of the actuarial function holder. Version 1.1
This life insurance Guidance Note has been adopted by the Board for Actuarial Standards. The latest version is available on the <a href\="http://www.frc.org.uk/bas/actuarial/index.cfm" target\="external">BAS website</a>. MAP/GN40 V1.1 B40.1 ... read more >>
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- Author:
- Life Board
GN44: Mathematical reserves and resilience capital requirement. Version 1.1
This life insurance Guidance Note has been adopted by the Board for Actuarial Standards. The latest version is available on the <a href\="http://www.frc.org.uk/bas/actuarial/index.cfm" target\="external">BAS website</a>. MAP/GN44 V1.1 B44.1 ... read more >>
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- Author:
- Life Board
GN37: The Financial Services and Markets Act 2000 (Communications by Actuaries) Regulations 2003. Version 1.1 [superseded]
This life insurance Guidance Note has been retained by the Actuarial Profession. MAP/GN37 V1.1 B37.1 GN37: The Financial Services and Markets Act 2000 (Communications by Actuaries) Regulations 2003 Classification Recommended Practice MEMBERS ... read more >>
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- Author:
- Life Board
GN41: The role of the with-profits actuary. Version 1.1
This life insurance Guidance Note has been adopted by the Board for Actuarial Standards. The latest version is available on the <a href\="http://www.frc.org.uk/bas/actuarial/index.cfm" target\="external">BAS website</a>. MAP/GN41 V1.1 B41.1 ... read more >>
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- Author:
- Life Board
GN39: General responsibilities of and relationships between actuarial function holders, with-profits actuaries, appropriate actuaries, and reviewing actuaries of UK life insurance firms and friendly societies. Version 1.1
This life insurance Guidance Note has been adopted by the Board for Actuarial Standards. MAP/GN39 V1.1 B39.1 GN39: General Responsibilities of and Relationships between Actuarial Function Holders, With-Profits Actuaries, Appropriate Actuaries, and ... read more >>
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- Author:
- Life Board
GN44: Mathematical reserves and resilience capital requirement. Version 1.0 [superseded by version 1.1 prior to coming into effect on 31 Dec 2004]
This life insurance Guidance Note has been adopted by the Board for Actuarial Standards. The latest version is available on the <a href\="http://www.frc.org.uk/bas/actuarial/index.cfm" target\="external">BAS website</a>. MAP/GN44 V1.0 B44.1 ... read more >>
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- Author:
- Life Board
GN46: Individual capital assessment. Version 1.0 [superseded by version 1.1 prior to coming into effect on 31 Dec 2004]
This life insurance Guidance Note has been adopted by the Board for Actuarial Standards. The latest version is available on the <a href\="http://www.frc.org.uk/bas/actuarial/index.cfm" target\="external">BAS website</a>. MAP/GN46 V1.0 B46.1 ... read more >>