You are here

CMI Working Paper 108

Working Paper 108: Interim “all offices” experience of term assurances, 2011-2015.

Important note: These results were described as “interim” as the Committee was keen to receive further term assurances data for these years to allow final "all offices" results to be produced. Additional data has subsequently been received and results for the years 2011-2016 are available alongside Working Paper 123. In Working Papers 108 and 123, the results in Section 8 are described as showing high-level experience by calendar year for durations 5+. Erroneously, the results actually show experience for a subset of that data. We have reissued these papers with a prominent “health warning” to use Working Paper 132, which includes correct results to 2018 instead of using either of these papers.

Working Paper 108 was originally published in June 2018. The working paper describes the experience of mortality and critical illness under term assurances in the years 2011 to 2015; the results are available in accompanying spreadsheets. Note: this paper and the results are available to Authorised Users only.

There is a summary spreadsheet (linked below) for each benefit type – Mortality (DB), Accelerated Critical Illness (ACI) and Standalone Critical Illness (SCI) – and datasheets containing more granular data are available on request. Please refer to the paper for more details. The three sets of Summary results released alongside this paper are:

Alongside this paper, we issued a survey to data contributors and other stakeholders to help guide our approach to future data collection and to the prioritisation of other work. A document summarising the responses to the survey and the Committee’s updated plans regarding future work is now available. Download the response summary

Contact Details

If you have any questions about the CMI please email

info@cmilimited.co.uk

Filter or search events

Start date
E.g., 04/03/2021
End date
E.g., 04/03/2021

Events calendar

  • Finance in the Public Interest Series

    16 March 2021 - 23 March 2021

    Spaces available

    There is widening debate that many of our social, financial and regulatory institutions need to be rethought so that we can create more sustainable futures, particularly in light of the Covid-19 pandemic, the policy/macro-economic response to the pandemic and how it affects consumers, as well as the impending climate crisis. This multi-day series of three keynote webinars, individually presented by leading economist John Kay, Sir Paul Collier, Professor of Economics and Public Policy at the Blavatnik School of Government, Ashok Gupta, Chair at Mercer Ltd, and Nico Aspinall, Chief Investment Officer at B&CE, will open up discussion on these essential topics. The series will culminate in a panel session with Chief Economist of the Bank of England, Andy Haldane.

  • The price is righter

    16 March 2021

    Spaces available

    This webinar provides an overview of the state of the UK protection market, and how different insurers are using different levels of sophistication to price (such as using customer demand models). It considers how insurers have implemented these sophisticated pricing techniques, and the practical challenges they have faced.

  • Spaces available

    This discussion will revolve around the latest industry developments including and introduction to Part VII transfers and Schemes of Arrangement (process, parties involved and recent events), insights and lessons from recent with-profits transactions and restructurings (including Equitable Life and Pru-Rothesay), how firms can apply these learnings to future arrangements, and the outlook for future with-profits transactions and restructurings (including the impacts of Covid-19 and Brexit)

     

  • Spaces available

    What is stewardship and how has the landscape changed under the 2020 UK Stewardship Code? How does effective stewardship create long term value for beneficiaries and what roles do asset owners and asset managers play in active stewardship. This webinar will offer answers to these questions in a practical approach to stewardship reporting.

  • Spaces available

    Mis-estimation risk is a key element of demographic risk, and past work has focused on mis-estimation risk on a run-off basis.  However, this does not meet the requirements of regulatory regimes like Solvency II, which demands that capital requirements are set through the prism of a finite horizon like one year.  This paper presents a value-at-risk approach to mis-estimation risk suitable for Solvency II work.