You are here

Papers and reports

Proposals for the statutory basis of valuation of the liabilities of linked long-term insurance business

The background to the production of this paper is somewhat involved, but is necessary for an understanding of why it contains what it does. Readers who are familiar with recent developments in the valuation field may proceed straight to Section 2. Statutory valuations of long-term insurance business under the Insurance Companies Act 1982 (‘the Act’, which superseded the 1974 and 1981 Acts) and the Insurance Companies Regulations 1981 (‘the current Regulations’) have now been prepared by actuaries for some years.

Improving the performance of equity portfolios

This paper has the strictly practical objective of devising procedures for managing equity portfolios to the best advantage. First, Modern Portfolio Theory (MPT), which has been developed over the last 35 years with just this objective, is critically examined; from a study of the history of MPT and of its philosophy, principles and practices, the authors conclude that this discipline makes no contribution whatever to improving the performance. Having failed to get a solution from MPT, the authors study the possibility of achieving their objective by rigorous investment analysis.

Proposals for the statutory basis of valuation of the liabilities of linked long-term insurance business

The background to the production of this paper is somewhat involved, but is necessary for an understanding of why it contains what it does. Readers who are familiar with recent developments in the valuation field may proceed straight to Section 2. Statutory valuations of long-term insurance business under the Insurance Companies Act 1982 (‘the Act’, which superseded the 1974 and 1981 Acts) and the Insurance Companies Regulations 1981 (‘the current Regulations’) have now been prepared by actuaries for some years.

Pages

Subscribe to RSS - Papers and reports