SA2 Learning portal: articles

Units 2 & 3 – UK specific products and general business environment

The list is set out according to the order of the Units in the Core Reading by allocating each item of reading to the most appropriate Unit. However, some of the reading material may be relevant to more than one Unit. In addition, there is an item listed at the end under 'Wider reading' which is not obviously applicable to any specific Unit.

Holistic lifecycle financial planning framework. (2010) Corrigan, J; Matterson, W., SIAS

Lessons from closure: an analysis and comparison of the issues facing closed life funds and closed pension schemes. Campbell, A.C.; Grimley, D.C.; Pallister, J.K. et al. BAJ (2006) 12(3): 639-727

VA past present and perfect [variable annuities]. (2009) Shallis, P; Jones, G; Buckle, I; Hills, M., SIAS

Unit 6 – UK regulation – environment

The Penrose Report. A discussion meeting held by the Institute of Actuaries. Abstract of the discussion. [Report of the Equitable Life Inquiry]. BAJ (2004) 10(5): 1047-1070 

Units 7 to 11 – UK regulation, valuation and related issues

Analysing movements in realistic balance sheets for with-profits funds. (2004) Coulthard, P. J. A.; Parkes, A. R., SIAS

The cost of capital for financial firms. Exley, J.; Smith, A. D. BAJ (2006) 12(1): 229-301

Current developments in embedded value reporting. O'Keeffe, P. J. L.; Desai, A. J.; Foroughi, K. et al. BAJ (2005) 11(3): 407-496

Developing a framework for the use of discount rates in actuarial work. (2011) Discount Rate Steering Committee (Chair: C A Cowling)

Market consistent valuation of life assurance business. Sheldon, T. J.; Smith, A. D.  BAJ (2004) 10(3): 543-626

Market-consistent valuations and the implications of the recent financial crisis. (2010) Foroughi, K., ICA

Notes on options, hedging, prudential reserves and fair values. Wilkie, A. D.; Owen, M. P.; Waters, H. R. BAJ (2005) 11(2): 199-312 

Practical implementation challenges of internal models under Solvency II. (2009) Austin, R et al., SIAS

Twin peaks. The enhanced capital requirements for realistic basis life firms. (2003) Muir, M. J.; Waller, R. M., SIAS

Unit 12 – Treating customers fairly

Treating life customers fairly (2007) [Report from the life Treating Customers Fairly working party]. Staffurth, J. et al. SIAS

Unit 13 – Risk management and controls

Financial aspects of longevity risk. (2004) Richards, S. J.; Jones, G. L. SIAS

Governance and risk management in United Kingdom insurance companies. (2009) Deighton, S. P.; Dix, R. C.; Graham, J. R.; Skinner, J. M. E. Actuarial Profession,

Living with mortality: longevity bonds and other mortality-linked securities. Blake, D.; Cairns, A. J. G.; Dowd, K. BAJ (2006) 12(1): 153-228

Longevity in the 21st century. Willets, R. C.; Gallop, A. P.; Leandro, T. et al. BAJ (2004) 10(4): 685-832 

Report from the actuarial processes and controls best practice working party – life insurance. (2009) Care, R et al. Actuarial Profession

Unit 14 - Professional guidance 

Technical Actuarial Standards: TAS D, TAS R, TAS M, Insurance TAS, Transformations TAS.

Other Actuarial Profession Standards and non-mandatory resource material as listed in the Core Reading. See Actuarial Profession Professional Standards Directory

Unit 15 – Contract design and pricing

A market-based approach to pricing with-profits guarantees. Hare, D. J. P.; Dickson, J. A.; McDade, P. A. P. et al. BAJ (2000) 6(1): 143-213

Reinventing annuities. (2001) Wadsworth, M. J.; Findlater, A. J. M.; Boardman, T. V. SIAS

Unit 16 – Management of UK with profits business

Asset shares and their use in the financial management of a with-profits fund. Needleman, P. D.; Roff, T. A. BAJ (1995) 1(4): 603-688

Measuring and managing the economic risks and costs of with-profits business. Hibbert, A. J.; Turnbull, C. J. BAJ (2003) 9(4): 725-786

Wider reading

Effective decision making in a life company. Iqbal, I. BAJ (2005) 11(1): 133-182