Actuarial Research Centre (ARC)

Joint CIA, IFoA, SOA Webcast: Measuring Pension Plan Risk from an Economic Capital Perspective
Wednesday 15 May 2019

Jointly sponsored by the Institute and Faculty of Actuaries, Society of Actuaries, and CIA, this webcast will present research that compares the risk profiles of pension plans in the UK, the US, and Canada.

At the end of this session, attendees will be able to:

• Identify the key items that affect the financial risk of a defined benefit pension plan;
• Compare the financial risk implications of different pension plan designs; and
• Evaluate the impact of alternative asset mix policies on the financial risk of a pension plan.

Economic capital, the 0.5th percentile result of a stochastic projection, is the primary risk measure employed. The research examines not only the difference in economic capital requirements between typical plans in the three countries, but also its sensitivity to changes in asset allocation, contributions, and starting funded status. This webcast is part of a wider international research programme, co-sponsored by the IFoA, looking into the impact ageing populations have on asset values over long time periods and considering the potential impact on large pension plans in Canada, the UK and the United States. The research is being conducted by the University of Waterloo (Canada) and the University of Kent (UK). Further details about the research can be found here.

Speakers: Stephen Bonnar (FCIA), University of Waterloo 
Aniketh Pittea and Pradip Tapadar, School of Mathematics, Statistics & Actuarial Science, University of Kent

ARC Event: ERM Results Launch
Thursday 28 February 2019

The IFoA’s Actuarial Research Centre (ARC) held a research results launch event on the subject of Equity Release Mortgages (ERM): No Negative Equity Guarantee (NNEG) at Staple Inn Hall, London.

In July 2018, the IFoA and the Association of British Insurers (ABI), through the ARC agreed to jointly commission an independent piece of research to determine appropriate methods for determining ERM cash flows and their value.

The University of Kent led by Professor Radu Tunaru (Senior Researcher) was awarded the contract to carry out this piece of research, which is shared here.

ARC Webinar Series 2018: Behavioural Aspects of Institutional Investment Decision-Making
Thursday 4 October 2018
This webinar explores the decision-making of institutional investors, in particular insurers and pension schemes, and the biases that may affect their investment decisions.

Sponsored by Aon and Invesco

Speakers: Professor Peter Ayton (City, University of London) and Dr Iain Clacher (University of Leeds).

ARC Webinar Series 2018: Minimising Longevity and Investment Risk while Optimising Future Pension Plans
Wednesday 3 October 2018
This webinar covers the development of pension product designs that keep customers' needs at the forefront, with a real income in retirement that minimises costs for the customer.

Speakers: Dr Catherine Donnelly (Heriot Watt University).

ARC Webinar Series 2018: Modelling, Measurement and Management of Longevity and Morbidity Risk
Tuesday 2 October 2018
This webinar is about developing a new generation of mortality and morbidity models, with a specific focus on the drivers for mortality.

Speakers: Dr Torsten Kleinow (Heriot- Watt University) and Dr George Streftaris (Heriot-Watt University)

2018 ARC Webinar Series: Use of Big Health and Actuarial Data for understanding Longevity and Morbidity
Monday 17 September 2018
In this webinar new statistical and actuarial methods in the use of Big Data are discussed, in the context of health and wider applications.

Speakers: Professor Elena Kulinskaya (University of East Anglia) and Co-Investigator Nigel Wright (Aviva).

Speakers: 
Professor Elena Kulinskaya (University of East Anglia) – Principal Investigator for the research programme
Nigel Wright (Aviva)

Facilitator:
Professor Andrew Cairns (Director of the Actuarial Research Centre)