Papers and reports

In recent years the number of last-survivor annuities on two lives, male and female, in some offices has grown so large that their valuation individually has become impracticable. It is the purpose of this note to record the results of some experiments in a simple method of approximate valuation which permits the annuities to be grouped according to the age of one of the partners or, possibly, according to their mean age. The annuities in each age-group are then valued by the factor appropriate to that age and the average age of the other life.

Any branch of knowledge is improved by a background. We understand English history better if we can compare it with that of other countries. We understand human anatomy better if we can compare man’s structure with that of other animals. So it may be hoped that actuarial science will benefit by a study of animal populations.