General Insurance Convention 1979
Chester, 1979
Analysis of companies DoT returns. - Truckle, William W. 117 pages.A question of some topicality at the present time is whether there exist any simple tests of a company's, performance, as exhibited in the statutory returns, which might provide the supervisory authority with an early-warning of a possible adverse experience. Among the aspects which have been discussed in this connection are -1) Certain key claims ratios.2) The chain-ladder test.3) The track-record of past estimating.To date the discussion of these methods has been hampered by the absence of any systematic investigation into how effectively they work in practice when applied over a wide range of companies over an extended period of time. The research group therefore decided to examine these aspects with a view to presenting results in a manner which might provide some insight into the effectiveness of the various tests.
Applications of Reid paper. - Reid, David H. 33 pages.The format of this report results from the way in which the Study Group tackled the question of investigating further aspects of the approach to estimating outstanding claims described in the Reid paper. While most of the Group was concerned with examining specific aspects arising from the practical application of this method, one member working in parallel devised a fundamentally different approach to the same problem, and this is described in detail in P.J. Cooper's paper which will be available at the Seminar.
Financial planning. - Akhurst, Ron B. 63 pages.Adaptive Control: reviews some of the recent work in this field, particularly in Australia.Discounting and Inflation: continues the theme of a GIRO 22 paper (itself a contribution to this year's discussions) by looking at the way current revenue accounting distorts profitability.Capital Allocation : explores the controversy of whether or not to allocate capital by class or profit centre. Concepts of Profit in the Context of Non-Life Insurance: summarises the ways in which the accountancy profession has been developing the concept of profit.Reinsurance : Sustainable Growth of Funded Accounts: explores the particular problems of determining sustainable growth rates in the funded accounts that reinsurers, Marine and Aviation insurers adopt.Investment Policy of GI Companies - Practice and a Little Theory: draws on a range of material to compare the current investment holdings of the seven major compositesFinancial Planning in Composite Offices conducting mainly Life Business: considers the problems of a profitable Life company diversifying into general business.