1998 GISC Reinsurance Pricing Working Party

Document description

This paper describes the work undertaken by the 1998 Reinsurance Pricing working party and is divided into three parts as follows: (a) aims of the working party\; (b) progress to date\; and (c) discussion of the issues affecting the use of actuarial techniques in reinsurance pricing. In effect, the second part listed above is a report on our progress up to the time of writing the paper (late July). Our work has continued since then and an update will be provided in the workshop. The third part of the paper is intended to give a flavour of the practical difficulties faced, particularly those relating to individual risk excess of loss contracts. It is our intention to illustrate as many of these issues as possible at the workshop using numerical examples. The issues are based on our collective views, although not all the views expressed are necessarily shared by all members of the working party.