The purposes for which the CMI uses the information it collects are to:
- compare the actual mortality and morbidity experience with the expected experience based on one or more published tables
- construct tables of mortality and morbidity functions based on analysis of aggregated data primarily for use by members of the actuarial profession
- make estimates of future developments in mortality and morbidity rates
- carry out other statistical investigations and research that may be useful to actuaries with regard to the conduct of long term assurance, annuity and pension business, of sickness and related insurances and of self-administered pension schemes.
The CMI uses this data to produce:
- a summary of the data and the mortality / morbidity experience of that dataset. This is returned to the relevant data contributor and it is an integral part of CMI’s data validation, to ensure we have interpreted the data appropriately; and
- an anonymised dataset, in which no individual can be identified, which is used with other relevant data for further research,
The CMI makes available the results of its research by a number of means:
- Subscribers and other Authorised Users receive an analysis of the aggregated experience of a number of data submissions, usually for a single year or for several years combined.
- The CMI also releases the results of some of these aggregated analyses and the results of other research to Subscribers and other Authorised Users in Working Papers and other documents
In certain circumstances the CMI may supply data to universities, and others, for non-commercial research
This will be done under a Research License which sets out the obligations of the researcher(s) and the CMI
All requests for data for research should include the following:
- confirmation that the terms of the Research Licence will be met
- information about what data is required
- a summary of the purpose of the data request and the intended output.
Data will only be released for research purposes where the CMI Management Committee agrees that the proposed research may provide a worthwhile addition to actuarial knowledge. The CMI reserves the right to levy a charge for the handling of such data requests.
Any data provided for research will have been de-personalised in such form that they can no longer be considered personal data or sensitive personal data within the context of the data protection legislation. In addition, any data provided will normally be aggregated so as to preserve the confidentiality of information relating to individual life offices or pension schemes.
Occasionally the CMI may make available data that indicates, via anonymous codes, the data from individual life offices or pension schemes. Such research will only normally be undertaken at the instigation of the relevant investigation committee and the Research License requires that:
- published work based on the data will not include any figures that might allow an individual life office or pension scheme to be identified; and
- a draft copy of the report will be submitted to the CMI prior to publication for approval.
If you have any questions about the CMI please email
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The International Accounting Standards Board (IASB) recently published an Exposure Draft (ED) of limited changes to its insurance contracts standard IFRS 17, effective date 2022.
The IFoA hosts regular roundtable meetings with the PRA on best practice in insurance investment and the application of the Prudent Person Principle, which governs insurance investment under Solvency II.
Presenter: Rahul Verma
Presenter Matt Modisett
An introductory session to help you get ahead with climate change.
- Science, terminology and initiatives: handy facts to keep in your back pocket
- Getting your point across: how to influence people and avoid common traps and pitfalls
- Taking action: what are actuaries expected to do...and what are we actually doing?
This KSS talk, presented by the FCA Head of Department in Scotland, will focus on the following 3 main areas:
- FCA business plan priorities
- The future of regulation
- FCA Engagement in Scotland
For life insurers in the UK, the risk margin is one of the most controversial aspects of the Solvency II regime. Following its implementation, the risk margin came under considerable criticism for being too large and too sensitive to interest rate movements. These criticisms are particularly valid for annuity business – such business is of great significance to the national system for retirement provision. This criticism has led to political interest, and the risk margin was a major element of the Treasury Committee inquiry into Solvency II.
GIRO is attended annually by over 800 delegates and speakers who are keen to discuss key topics such as Pricing, Reserving, Modelling and the future of the insurance industry. GIRO 2018 was a huge success and we have opened bookings early for what we hope will be another brilliant conference at the EICC in Edinburgh this year.
Presenter Jon Spain
Three actuaries – and CEOs – discuss their views on how the business world is changing and what that might mean for actuaries in the future.
Have you ever thought about working in wider fields? Would you like to play a role in the fight against climate change to make the planet better?
It can be difficult to do this - but seeing an example you can follow can make it more realistic. In this ‘green’ case study a template is outlined to show how actuaries can apply their skills more broadly - and in doing so, to make a difference.
The Institute and Faculty of Actuaries is running a sessional meeting on autonomous vehicles on 28th October. The session will showcase the work of the IFoA “Autonomous Vehicles” working party alongside a number of expert external presenters.
The Life Conference is the premier event for professionals interested in life insurance. Offering a wide range of workshops and plenary sessions it’s the perfect opportunity to discover what’s hot and current in life insurance ensuring you get up to date on the latest thinking and innovation whilst meeting and exchanging ideas with a broad range of professionals.
The IFoA is pleased to announce that this year’s Autumn Lecture will feature the Rt Hon Nicky Morgan MP as its guest speaker. Nicky has previously served as Financial Secretary to the Treasury and Minister for Women. She now chairs the Treasury Select Committee whose remit is to examine the expenditure, administration and policy of HM Treasury, along with all of its agencies and associated bodies.
Watch the live stream of this year's Autumn Lecture with guest speaker Rt Hon Nicky Morgan MP.