Equity option valuation made simple - and more reliable
Dynamic solvency testing
Fractals. The physicists' wolf stalking the actuarial flock. A discussion of the role of actuaries in the developing world of complexity
Protection products in a changing world
Pension funding and expensing in the minimum funding requirement environment
The statutory Minimum Funding Requirement (MFR) introduces fundamental change to the funding of pension schemes in the United Kingdom. While only a minority of schemes will actually be affected materially in terms of actual contributions or benefits, taken over a period of years, the influence of MFR will be much more widely felt. This is because the MFR is an absolute standard to be met, whereas long-term funding targets for ongoing schemes are, at least up to a point, optional and adjustable.
The financial theory of defined benefit pension schemes
Traded endowments
Address by the President
Risk-based capital in general insurance
This paper looks at the problems of assessing, for solvency purposes, the capital requirements of a non-life insurer in the context of the United Kingdom. It considers how these capital requirements might vary according to the different risks to which an insurer is subject and how this Risk-Based Capital (RBC( might be measured in practice, using as a case study the RBC formula recently introduced in the United States of America.
Electronic distribution of life assurance. Serious business or just a game?
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