This Working Paper provides a brief commentary on the all-offices assurances data and experience for the 2007-2010 quadrennium using data mainly collected in a special data collection exercise in 2012 and 2013. (Note: An amended version of the paper was issued in February 2016 with minor revisions to the commentary; none of the results in the paper was affected.)
Working Paper 75 should be read in conjunction with the accompanying results files. There is a summary spreadsheet for 2007-2010 results for each benefit type – Mortality (DB), Accelerated Critical Illness (ACI) and Standalone Critical Illness (SCI) – and also for each calendar year’s results separately. Each spreadsheet has a notes page detailing its contents. The summary spreadsheets provide a high-level overview of the results and are available below. Datasheets containing more granular data are available to Authorised Users only on request to assurances@cmilimited.co.uk; these text files allow a user to conduct more detailed analysis. Please see Working Paper 75 for a full description of the results files.
Documents
Mortality-only:
- DB Summary results 2007-2010
- DB Summary results 2007
- DB Summary results 2008
This version was issued in February 2015 to corrrect am error in the attribution of expected deaths to age and duration cells within these results. Other results (including the 2007-10 results) were not affected. - DB Summary results 2009
- DB Summary results 2010
Accelerated critical illness:
- ACI Summary results 2007-2010
- ACI Summary results 2007
- ACI Summary results 2008
- ACI Summary results 2009
- ACI Summary results 2010
Stand-alone critical illness:
- SCI Summary results 2007-2010
- SCI Summary results 2007
- SCI Summary results 2008
- SCI Summary results 2009
- SCI Summary results 2010
Download the “SC04 rates” used as the comparison basis in these Summary results here.
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SIAS Event: Navigating Organisational Politics Positively
Staple Inn Hall, High Holborn, London, WC1V 7QJ3 June 2019The term 'office politics' usually has a lot of negative connotations and indeed an inability to be able to navigate an organisation's formal processes and interact effectively with others at work can have far reaching adverse consequences.
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Webinar: VFM Assessment in Asset Management
Webinar11 June 2019
Public scrutiny of what investment funds deliver for consumers continues to be high profile, with the FCA’s Asset Management Market Study requiring fund managers to make (and publish) an annual assessment of value for authorised funds from the end of 2019. -
Professional Skills Training - London (12 June 19)
Staple Inn Hall, High Holborn London WC1V 7QJ12 June 2019
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Reimagining ageing
Staple Inn Hall, High Holborn London WC1V 7Q14 June 2019Reimagining ageing, hosted by the Institute and Faculty of Actuaries, in partnership with the ILC
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Sessional Meeting - Climate Risk Reporting Practices by UK Insurance Firms and Pension Schemes
Staple Inn Hall, High Holborn London, WC1V 7QJ17 June 2019Increasing global concern over the impact of climate change has recently led to public scrutiny over the adequacy of existing risk management practices by insurance firms and pension schemes in dealing with these challenges, that potentially impact both individual actuaries and the IFOA generally.
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NED Event: Behavioural Finance and Boards
Staple Inn Hall, High Holborn, London, WC1V 7QJ18 June 2019This event is now full. Please register here for the wait list -
Pensions Conference 2019
Bristol Marriott Hotel City Centre, 2 Lower Castle Street, Old Market, Bristol, BS1 3AD18-19 June 2019Covering current topics and industry trends, the conference also includes a pre-conference evening dinner (18 June) giving you the opportunity to develop your network. -
KSS event – FinTech and The Actuarial Profession
EY, Atria One, 144 Morrison Street, Edinburgh19 June 2019This KSS talk from FinTech Scotland's CEO will explore the mission to create an integrated Fintech ecosystem through provision of funding, support, infrastructure and talent that recognises and responds to the needs of all stakeholders - and the overarching aim for Scotland to be one of the top 5 Fintech global leaders by 2020.
To book your place, please email Barry_Shannon@standardlife.com
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Current Issues in General Insurance (CIGI) 2019
Inmarsat, 99 City Road, London, EC1Y 1BJ19 June 2019CIGI is a well-established one-day seminar designed to increase awareness and encourage discussion on a variety of topical issues across the general insurance industry.
There will be an excellent and diverse line-up of speakers to provide a variety of perspectives and challenge covering technical and professional areas.
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KSS Event: How to Stop Bad Data Driving out the Good (In an Age of Misuse, Misleadingness and Misinformation)
Edinburgh Hymans Robertson, 1 Exchange Place, Semple St, Edinburgh EH3 8BL20 June 2019Fake news, post truth, mistrust of experts... a familiar roll call of anxieties – or perhaps clichés – about our data rich world. They point to an underlying fear that in this data abundant age the bad data drives out the good and we are left with a broken public discourse.
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Professional Skills Training - Edinburgh (20 June 19)
IFoA (Edinburgh), Level 2, Exchange Crescent 7 Conference Square Edinburgh EH3 8RA20 June 2019 -
Cass Event – New Thinking about Deferred Annuities
Cass Business School, Executive Education Facilities 200 Aldersgate St, London EC1A 4HD21 June 2019Our motivation for discussing this important subject comes from some exciting recent research which has analysed the impact of behavioural factors on the decision to purchase an annuity. This work has shown that behavioural factors can explain the well-known low demand for immediate annuities but this research also identifies an important opportunity in relation to deferred annuities (DA). The research suggests that these factors lead to positive incentives to purchase a DA and that, for longer deferred periods, a DA could be an attractive product for both consumers and insurers.
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Sessional: Why the Pensions Dashboard is more than a data collection exercise
Royal College of Physicians, 9 Queen St, Edinburgh EH2 1JQ24 June 2019The pensions dashboard has been talked about across the industry for a long time and now nears implementation with DWP’s consultation ending in January 2019. -
IFoA/SAS Joint Professional Skills Training – Singapore
Room 903, NTUC Centre, Level 9, One Marina Boulevard, Singapore 01898925 June 2019The Institute and Faculty of Actuaries (IFoA) and Singapore Actuarial Society (SAS) are organising a joint Professional Skills Training (PST) in Singapore. This session is suitable for actuaries working in any area (i.e. it is not specifically aimed at Life, GI or any other technical discipline) and is interactive, so you should come along prepared to take part in the discussions.
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Professional Skills Training - London (25 June 19)
Staple Inn Hall, High Holborn London WC1V 7QJ25 June 2019 -
AGM and Presidential Address 2019 + Volunteer and Member Drinks Reception
The Hub Castlehill Edinburgh EH1 2NE26 June 2019
Notice is hereby given that the ANNUAL GENERAL MEETING of the INSTITUTE AND FACULTY OF ACTUARIES will be held at The Hub, Edinburgh on Wednesday 26 June 2019 at 16.30 (Preceded by tea from 16.00) and followed by a PRESIDENTIAL ADDRESS given by John Taylor.
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IFAM event - Actuarial Teachers’ & Researchers’ Conference 2019
Institute for Financial and Actuarial Mathematics Department of Mathematical Sciences The University of Liverpool Mathematical Sciences Building Peach Street Liverpool, L69 7ZL27 June 2019 - 29 June 2019The Institute for Financial and Actuarial Mathematics (IFAM) at the University of Liverpool is pleased to host the 2019 Actuarial Teachers’ and Researchers’ Conference from 27-28 June 2019. This annual two-day event has been running annually now for many years, each time hosted by a different university, and provides all those interested in actuarial research and education a great opportunity to share their ideas and catch up on the latest developments.
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IFoA/ASM Joint Professional Skills Training – Kuala Lumpur
Menara AIA, Auditorium, 99 Jalan Ampang, 50450, Kuala Lumpur28 June 2019The Institute and Faculty of Actuaries (IFoA) and Actuarial Society of Malaysia (ASM) are organising a joint Professional Skills Training (PST) in Kuala Lumpur. This session is suitable for actuaries working in any area (i.e. it is not specifically aimed at Life, GI or any other technical discipline) and is interactive, so you should come along prepared to take part in the discussions.
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SIAS: The Impact of Air Pollution on Health and Life Expectancy
Staple Inn Hall, High Holborn, London, WC1V 7QJ2 July 2019Air pollution has gained increasing attention lately. Nicola Oliver, head of longevity and mortality research for Medical Intelligence, will discuss not only the impacts of air pollution on health and life expectancy but also how as an industry we should be addressing it.
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Behavioural Finance Research Launch
Staple Inn Hall, High Holborn, London, WC1V 7QJ4 September 2019
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GIRO Conference 2019
EICC, The Exchange, 150 Morrison St, Edinburgh EH3 8EE24-26 September 2019GIRO 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.
