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Peter Clark Prize for Best Paper

This prize is awarded for the best paper and presented or published for an actuarial audience.

Papers are nominated annually by members from across the IFoA. Initially established in 1891, this prize was originally awarded for the best essay and later became the Prize for Best Paper. It was re-named the Peter Clark Prize for Best Paper in 2007 in memory of the former President of the Institute of Actuaries, who passed away suddenly whilst serving as the Immediate Past President.  


Peter Clark Prize winners Author(s) Year
Reverse Sensitivity Testing: what does it take to break the model? Silvana M. Pesenti, Pietro Millossovich and Andreas Tsanakas 2019/20
No winner n/a 2018/19
High Age Mortality Working Party: Working Paper 100: A Second Report on High Age Mortality Steve Bale (chair), Carl Campbell, Mark Cooper, Andrew Gaches, Adrian Gallop, Andy Harding, Richard Lamb and Anny Sun 2017/18
Ersatz model tests Stuart Jarvis, James Sharpe and Andrew D Smith 2016/17
No winner n/a 2015/16
Model risk: daring to open up the black box Nirav Morjaria (Chair) and members of the Model Risk Working Party 2014/15
Difficult risks and capital models Ralph Frankland (Chair) and members of the Extreme Events Working Party 2013/14
Market-consistent valuation of a defined benefit pension fund's employer covenant and its use in risk-based capital assessment Craig Turnbull 2012/13

A review of the use of complex systems applied to risk appetite and emerging risks in ERM practice

N Cantle, N Allen, P Godfrey, Y Yin


Developing a framework for the use of discount rates in actuarial work

C A Cowling, R Frankland, R T G Hails, M H D Kemp, R L Loseby, J B Orr and A D Smith 2010/11

Measurement and modelling of dependencies in economic capital

R A Shaw, A D Smith and G S Spivak

Disease management programmes for major depression: making the financial case

J Buckle


Modelling extreme market events

R Frankland, A D Smith, T Wilkins, E Varnell, A Holtham, E Biffis, S Eshun and D Dullaway 2008/09

Risk assessment techniques for split capital investment trusts

Andrew Adams and James Clunie


Recent Peter Clark Prize and Best Paper commended papers

Author(s) Year
AI in actuarial sciences Ronald Richman 2019
Mortality rates and improvement over time at advanced ages in South Africa - insights from the national-level data. (Presented at Actuarial Society of South Africa Convention, November 2016) Ronald Richman and Rob Dorrington 2017

Transforming consumer information

A Ritchie, J Corrigan, S Graham, A Hague, A Higham, J Holt, P Mowbray and H Robinson


ERM for health insurance from an actuarial perspective

G C Orros and J Smith


Insurance accounting: a new era? 

K Foroughi, C R Barnard, R W Bennett, D K Clay, E L Conway, S R Coldfield, A J Coughlan, J S Harrison, G J Hibbert, I V Kendrix, M Lanari-Boisclair, C D O'Brien and J S K Straker


Developments in the management of annuity business

P G Telford, B A Browne, E J Collinge, P Fulcher, B E Johnston, W Little, J L C Lu, J M Nurse, D W Smith and F Zhang


Does your hedge fund do what it says on the tin? Hedging strategies for insurers; effectiveness in recent conditions and regulatory treatment

S Eason, W Diffey, R Evans, P Fulcher and T Wilkins


Actuarial aspects of internal models for Solvency II

K A Morgan, D Brooks, R J Care, M B Chaplin, A M Kaufman, D N Roberts, J M E Skinner, D J K Huntington-Thresher, P J Tuley an D L Wong


Credit derivatives

Martin Muir, Andrew Chase, Paul Coleman, Paul Cooper, Gary Finkelstein, Paul Fulcher, Chris Harvey, Richard Pereira, Albert Shamash and Tim Wilkins.


Modelling and managing risk

Paul Sweeting 2007/08

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Events calendar

  • Pensions Conference 2021

    Online webinar series
    16 June 2021 - 22 June 2021
    Spaces available

    Welcome to the programme for our 2nd Virtual Pensions Conference. This year's conference features 11 webinars offering members and non-members the opportunity to get up to date content from leading experts in the pension industry. There will also be opportunity to ask questions and contribute to the discussion.

  • Spaces available

    Mathematical Futures: The Actuary in a World Transformed – Sir Adrian Smith will outline how advances in data science, machine learning and artificial intelligence in the world of big data will transform the nature of many industries, including financial services. The broader environment within which mathematics is applied will change rapidly, often led by innovative yet disruptive forces outside. These changes will undoubtedly have an impact on the work of actuaries - and the profession will need to adapt quickly to thrive.


  • Spaces available

    This session will explore how the new index has revealed previously uncaptured mortality inequalities by using predictive variables at a high degree of granularity. Globally renowned leader in actuarial science Professor Andrew Cairns and his co-investigator Torsten Kleinow will demonstrate the uses of new LIFE index such as the causes of high or low mortality and regional differences in mortality.

  • Spaces available

    Given our commitment to the safety of our members and employees, and as the easing of restrictions in respect of COVID-19 cannot be guaranteed at this point in time, we have decided to hold our AGM virtually again this year.

    The Business of the AGM

  • Spaces available

    Join newly inaugurated IFoA President Dr. Louise Pryor as she explores what we need to do to keep abreast of the changing world – and how we can seize the resulting opportunities – in her Presidential Address, ‘A Learning Society’

  • Spaces available

    The world is changing. The fourth industrial revolution, globalisation and the COVID-19 pandemic are up-ending traditional social and business norms around the world; changes that were once predictable and steady are now faster and more profound.

  • Spaces available

    This is a free webinar on the consultation on changes to the Practising Certificates (PC) Scheme.

    The proposals come from a recent review of the PC Scheme which was the first substantive look at the IFoA’s approach to the requirements and process for PCs since 2010. It responds directly to feedback received on how the current scheme works especially that received from members and PC Holders.

  • Spaces available

    We have entered the global age which is invalidating most of the assumptions upon which our success up till now has depended. For example, in the global planetary society there can be no externalities. Although there is increasing clamour for new ways of thinking, sadly, our attempts to invent such new ways remain trapped in the same historical set of assumptions. The result is that we are faced with three tragedies.

  • Spaces available

    The paper “Asset liability modelling in the quantum era” shall be presented by its authors, Tim Berry and James Sharpe, and chaired by Andrew Smith, Assistant Professor in the School of Mathematics and Statistics at University College Dublin.

  • Spaces available

    Today’s breakneck pace of technological change has an immense impact on leaders—and as a result, on their organizations’ capacity to transform. All too often, executives remain stuck in outdated mindsets and modes of operating, even when they recognize the need to reinvent themselves. Leadership expert Herminia Ibarra upends traditional, introspective advice and says act first—in order to change your way of thinking. Following her presentation, Herminia Ibarra will be joined by Louise Pryor, incoming IFoA President and Hash Piperdy, Managing Director at Epitome Global, for a panel discussion around the themes of the session. The panel will be chaired by Tan Suee Chieh.

  • Spaces available

    The IFoA’s Actuarial Review Team will publish its second thematic review in June 2021. The review is looking at the involvement of actuaries in the pricing of UK home and motor insurance, during a period of significant developments in the sector from both regulation and innovation.

  • Spaces available

    As part of the Behavioural Science Series, David Rooke will explore the leadership capacities and capabilities that may enable actuaries to successfully navigate the challenges of our times. He will discuss how actuaries can apply these principles to ensure the profession succeeds, flourishes, and plays a positive societal role in our global community.

    Following his presentation, David Rooke will be joined by Stephen Mann, CEO at the Institute and Faculty of Actuaries and Anusha Thavarajah, Allianz’s Regional Chief Executive Officer, Life and Health for Asia Pacific for a panel discussion around the themes of the session The panel will be chaired by Tan Suee Chieh.

  • Asia Conference 2021 webinar series

    Online webinar series
    26 July 2021 - 30 July 2021
    Spaces available

    We have made it through 2020 but the COVID-19 crisis continues to have a significant impact on individuals, societies, businesses and the wider economy across the globe. Navigating the world post COVID-19 in an uncertain and highly unstable time brings along many uncertainties, challenges and exciting opportunities. Hence the theme of this year’s IFoA Asia Conference Webinar Series is “Risk. Adapt. Thrive.”

  • Spaces available

    Risk Management Webinar ProgrammeInternal audit is often the Cinderella of the audit world. It’s a regulatory requirement for insurance companies to have an internal audit function, so why not make it as useful as possible?  This session will look at how to link an internal audit plan to the risk register, and how that helps audit committees and boards to spot problems and fix them.