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Scottish Independence: some questions from the Institute and Faculty of Actuaries

Scottish Independence: some questions from the Institute and Faculty of Actuaries This document sets out questions from the Institute and Faculty of Actuaries on the subject of the referendum on Scottish Independence to be held in September 2014. ... read more >>

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Author:
Ji Yeo
Source:
GIRO40

A Report from GIRO Advanced Pricing Techniques (APT) Working Party

This paper examines in details six overlooked facts of using generalized linear models (GLMs) for non-life pricing and discusses whether the use of GLMs is still fit for purpose in a competitive market. The six facts of GLMs discussed are 1. Either zero or ... read more >>

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Author:
Marion Gremillet, Pierre Miehé and José Luis Vilar Zanón
Source:
GIRO40

Reversible Jump Markov Chain Monte Carlo method

Calculating deterministic reserves is no longer sufficient in our times of enhanced Risk Management. Today, Insurers strive to have a complete view of the risk underlying reserves valuation: therefore stochastic projection methods become central to today’s ... read more >>

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Author:
Joseph Lo and Corina Constantinescu
Source:
GIRO40

Ruin Theory Starter Kit #1

The aim of the paper is to provide general insurance actuaries a starting point for evaluating and engaging with ruin theory in a practical manner. Towards this goal, the paper undertakes three tasks. First, it sets out the basic mathematical principles ... read more >>

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Author:
Solvency II Technical Provisions Working Party
Source:
GIRO40

Solvency II Technical Provisions for General Insurers

Solvency II Technical Provisions for General Insurers by the Institute & Faculty of Actuaries General Insurance Reserving Oversight Committee’s Working Party on Solvency II Technical Provisions: Susan Dreksler (Chair), Christopher Allen, ... read more >>

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Author:
Mark Sansom; Martin McElwee
Source:
Practical guidance for volunteers - on issues relating to competition law

Practical guidance for volunteers - on issues relating to competition law

Freshfields Bruckhaus Deringer LLP Keeping within the boundaries of competition law Mark Sansom & Martin McElwee August 2013 1 What areas are we going to discuss? 1 Why does competition law compliance matter? Risks for the IFoA and its ... read more >>

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Author:
Joseph Lo, Aspen
Source:
GIRO Conference and Exhibition 2011

Extending the Mack Bootstrap

Winner of the 2011 Brian Hey Prize - GIRO Paper 2011 Foreword * Joseph Lo, London, U.K.; joseph.lo@aspen.co 29 Foreword Many general insurance actuaries have a love-hate relationship with the Mack bootstrap. The methodology has usefully provided ... read more >>

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Author:
David Brown, Chair, GIRO 2013 Third Party Claims Working Party
Source:
General Insurance Pricing Seminar

D3: GIRO Third Party Claims Working Party – Latest developments and findings relevant to pricing

Update from the Third Party Working Party David Brown, Direct Line Group Rob Treen, Towers Watson 01 July 2013 Colour palette for PowerPoint presentations Dark blue R17 G52 B88 Gold R217 G171 B22 Mid blue R64 G150 B184 Secondary ... read more >>

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Author:
David Brown, Direct Line Group and Rob Treen, Towers Watson
Source:
General Insurance Reserving Seminar

Plenary 6: Preliminary results from the Third Party Working Party: Motor reserving issues based on the latest 2012 industry data

Update from the Third Party Working Party David Brown, Direct Line Group Rob Treen, Towers Watson 01 July 2013 Colour palette for PowerPoint presentations Dark blue R17 G52 B88 Gold R217 G171 B22 Mid blue R64 G150 B184 Secondary ... read more >>

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Author:
Nigel Masters
Source:
Enhancing your Business with ORSA

Perspective from the Board Room

02/07/2013 1 ORSA: A view from the Board Room Nigel Masters 1 July 2013 ORSA A View from the Board Room 1 July 2013 02/07/2013 2 ORSA: A view from the Board Room Some initial observations • ORSA is highly ambitious and may fail because it seeks to ... read more >>

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Author:
Gavin Hughes
Source:
Enhancing your Business with ORSA

The assessment of ‘Own Solvency Needs’

02/07/2013 1 Own Solvency Needs Gavin Hughes, Towers Watson 1 July 2013 Institute of Actuaries Conference ORSA 02/07/2013 2 Agenda • Background K id ti• ey cons era ons • Potential implications • Conclusion 2 Background 02/07/2013 3 ... read more >>

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Author:
Niamh Carr
Source:
Enhancing your Business with ORSA

Update on regulations and emerging practice

02/07/2013 1 ORSA: Update on regulations and emerging practice Niamh Carr, Towers Watson 02 July 2013 Agenda Update on Solvency II Reaction from the PRA Overview of EIOPA consultation Emerging practice 2 02/07/2013 2 Update on Solvency II 02 July ... read more >>

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Author:
Alex Duncan
Source:
Enhancing your Business with ORSA

Engaging the business through ORSA

25/06/2013 1 Engaging the Business through ORSA Alex Duncan 1 July 2013 Introduction • Own Risk and Solvency Assessment (ORSA) is the most valuable tool available to a CRO • Regulatory requirement in both Basel and Solvency 2 • How can ... read more >>

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Author:
C Lewis

Estimating risk profiles for common diseases from environmental and genetic factors

18/06/2013 1 Estimating risk profiles for common diseases from environmental and genetic factors Cathryn Lewis King’s College London Contents • Introduction to genetic prediction • Estimating disease risks • Implications 18/06/2013 2 ... read more >>

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Author:
A Cairns; T Kleinow

Mortality and Smoking Prevalence

18/06/2013 1 Mortality and Smoking Prevalence A Mortality Model for Multiple Populations Torsten Kleinow and Andrew J.G. Cairns Heriot-Watt University 18 June 2013 Mortality rates 18 June 2013 18/06/2013 2 Smoking prevalence 18 June ... read more >>

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Author:
Jon Forster

Incorporating model uncertainty into mortality forecasts

Incorporating model uncertainty into mortality forecasts Jon Forster and Xiaoling Ou Mortality Research Grants Presentation, 17 June 2013 Staple Inn Hall, London Jon Forster and Xiaoling Ou Incorporating model uncertainty into ... read more >>

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Author:
Financial Repression Working Party 2013
Source:
Risk and Investment Conference 2013

E4: Financial repression working party

11/06/2013 1 Financial repression Financial repression working party of the Finance & Investment PEC Presented to the Risk and Investment Conference Brighton June 2013 Colour palette for PowerPoint presentations Dark blue R17 G52 ... read more >>

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Author:
Markus Gesmann, Lloyd's
Source:
General Insurance Pricing Seminar

E1: Price Monitoring in the Lloyd's market: Where to go next?

© Lloyd’s < Picture to go here > Price Monitoring in the Lloyd’s Market Markus Gesmann Lloyd’s Analysis General Insurance Pricing Seminar, 11 June 2013 © Lloyd’s Price Monitoring in the Lloyd’s Market Agenda ► Setting the scene ► ... read more >>

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Author:
Rob Jarvis and Patrick Bradley
Source:
Open Forum: General Insurance research topics – Impact of telematics for insurance and UK flood insurance

Rob Jarvis and Patrick Bradley

22/05/2013 1 Thinking outside the box Robert Jarvis 22 May 2013 The insurance value chain 22 May 2013 2 22/05/2013 2 The market as a whole 22 May 2013 3 Does any of this matter? 22 May 2013 4 22/05/2013 3 Questions Comments Expressions of ... read more >>

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Author:
Kathryn Morgan and James Orr, PRA
Source:
Current Issues in General Insurance (CIGI)

Plenary 3: PRA Update

James Orr Kathryn Morgan 2 May 2013 Current Issues in General Insurance From the FSA to the PRA Agenda • The changing structure of UK regulation • The new regulatory architecture • The approach to prudential risk • Interaction with the ... read more >>