Taxation, reserving and actuaries

Document description

This paper is the product of a difference of opinion between the two authors during the discussion of a paper on Financial Reinsurance at the GISG convention at Llandrindod Wells in October 1991. Further discussion showed that the differences were mainly matters of presentation rather than substance but some topics were identified on which there seems to be no consensus view and we believe that there is need for a debate. Our intention is to produce a paper which would promote a discussion among actuaries about issues which we consider the profession (or that part of it involved with General Insurance) needs to resolve. Where we suggest solutions, they are intended to provide a basis for debate and we are quite prepared to be argued into something better. We believe that what we say is of general application but it will be obvious to any reader that it is written from a London Market background.