General Insurance Convention 1976
York, 1976
Management accounting - company profitability. - General Insurance Study Group. 52 pages. (Available from the library)
Management accounting. Measurement of profitability by class of business. - General Insurance Study Group. 48 pages.For the purpose of this paper we regard management accounting as being concerned with revealing the 'true' financial performance of a given class of business over some chosen period of time. As the discussion develops it will become apparent that the concept of the 'true' performance is somewhat nebulous; and subject to many qualifications. However, despite the limitations, we seek through management accounting to provide some more or less accurate indication of the underlying financial performance of each class.
Outstanding claims reserves. - General Insurance Study Group. 27 pages.This paper is the second of a series of papers to be produced by the Technical Reserves working party (report No. 1 covered IBNR reserves). The main object of these papers is to describe methods which have been used to estimate technical reserves in General Insurance having made due allowance for the various circumstances experienced in practice. It is the intention to include explanatory comments to assist the user in applying the different methods described.As mentioned in Report No. 1 the logical sequence of papers would probably have been different but at the request of the General Insurance Study Group the second paper has been restricted to reserves for reported outstanding claims.
Reinsurance. - General Insurance Study Group. 70 pages.The aims of the paper are:-
- To educate the profession generally and especially those students taking the new subject of general insurance, in the practical details of non-life reinsurance as it is currently conducted.
- To review a number of technical problems that lend themselves to actuarial techniques and where present practice is sometimes based on commercial rather than sound statistical considerations.
- To consider some problems other than those arising from stochastic fluctuations in numbers or amounts of claim.
- To review the special problem of reserving and the treatment of IBNR claims, and to review the methods used in fixing premium bases and scales.
- To consider the types of reinsurance cover needed by direct insurers or by reinsurers themselves (by way of retrocession) and means of testing whether the premiums and conditions asked give value for money.
- The presentation of the underlying concepts to non-actuaries in terms that they can understand.