CMI Working Paper 39 (July 2009) provided further detail on the Working Party’s research and analysis.
The CMI had become concerned about the continuing widespread use of the ‘interim cohort’ mortality projections. These projections do not take account of experience data published for years after 1999 and - as a result - have become increasingly out-of-date.
The Working Party was established to develop a projection model which:
- reflects the latest experience on trends in mortality;
- is relatively straightforward to understand and describe;
- allows users the flexibility to modify projections to suit their own views and purpose;
- can be regularly updated over time to reflect emerging experience.
The structure of the prototype mortality projection model is based on the projection of annual rates of mortality improvement, and assumes that ‘current’ rates of change will blend over time into a ‘long-term’ rate of improvement specified by the user
The model produces a single, deterministic, mortality projection for each set of user inputs and may be operated at different levels of complexity, reflecting the needs and resources of different users and uses.
The prototype model was published for consultation, along with a number of specific questions included in CMI Working Paper 38. The consultation period closed on 31 August 2009 and the Working Party produced CMI Working Paper 41 setting out a summary of the responses to the consultation, together with the Working Party’s comments and details of the actions taken. This was published on 23 November 2009 alongside the first live version of the model, CMI_2009.
Please email firstname.lastname@example.org if you want a copy of the prototype model, CPMv0.0, its user guide or set of parameter sensitivity test results which were published alongside Working Papers 38 and 39.
CMI Working paper 38. A prototype mortality projections model: Part one - an outline of the proposed approach31 May 2009
- 6 July 2009
CMI Working paper 41. CMI Mortality Projections Model - feedback on consultation and issue of ‘CMI_2009’1 November 2009
- 25 November 2009
- 25 November 2009
- 25 November 2009
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.
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Watch the live stream of this year's Autumn Lecture with guest speaker Rt Hon Nicky Morgan MP.