There has been much research in the profession's journals about the place of the Society for Equitable Assurances and its early pioneers in actuarial and insurance history

To offer a lead and introduction to the archive, a selection of references to papers in the Journal of the Institute of Actuaries (JIA) and Transactions of the Faculty of Actuaries (TFA) and books are listed below with links to the full text of papers online.

Origins of the ‘Actuary’ in life insurance and earlier roles

  • Ogborn, M.E. (1950). The Actuary in the Eighteenth Century. Proceedings of the Institute of Actuaries Centenary Assembly. (Cambridge University Press, 1950).
  • Ogborn, M.E. (1956). The professional name of actuary. JIA 82: 233-246.
  • Lewin, C.G. (2003). Pensions and insurance before 1800. (Tuckwell Press, 2003). (The author presents an alternative explanation of how 'actuary' became the title for the modern role known today, page 383.).

History of the Society

  • Walford, C. (1875). The History of the Equitable Society, […], from the date of its projection in 1756 down to 1873. (London: Charles and Edwin Layton, 1875). Reprinted from the Insurance Cyclopaedia. (Copy acquired in the Archive).
  • Ogborn, M.E. (1962). Equitable Assurances: The Story of Life Assurance in the Experience of the Equitable Life Assurance Society 1762-1962 (London: Allen & Unwin, 1962).
  • Review of Equitable assurances by Maurice E Ogborn. Review by A.H. Rowell. JIA (1962) 88: 387-389.
  • Review of Equitable assurances by Maurice E Ogborn. Review by R.L. Gwilt. TFA (1962-1964) 28: 104-110.

Originators of the Society and leading advisers

  • De Morgan, A. (1868). Some account of James Dodson F.R.S. JIA 14: 341-364.
  • Sibbett, T.A. (1990-1991). Richard Price 1723-1791: preacher, philosopher and actuary. Fiasco 122 January (1990): 4-6; 123 February (1990): 6-8; The Actuary April (1991): 25-28.

Actuaries to the Society

Contemporary reports and studies of the Society's mortality experience

  • Elderton, W.P. (1933). William Morgan F.R.S., 1750-1833. JIA 64: 364-365. [Exposition of tables in manuscript by William Morgan: ‘Comparison of the Decrements of Life in the Society with those of the Northampton Table 1790’, ‘Comparison of the Decrements of Life as above for 29 years from 1768 to 1796’, ‘‘Comparison of the Decrements of Life in the Society with those in Dodson’s & Halley’s & Simpson’s Tables’ ’Surplus stock of the Equitable Society determined on January 1st 1776 by finding the seperate [sic] Interests of the Members in their respective Policies &c. &c.’]
  • Report: Equitable Society. JIA (1848-1851) 1: 95-100.
  • Report: Equitable Life Assurance Society. JIA (1852-1853) 3: 349-354.
  • Report: Equitable Life Assurance Society. JIA (1853-1854) 4: 379-380.
  • Morgan, W. [1831-1897, grandson of William Morgan, 1750-1833] (1864-1866) Correspondence: The D, N, &c. columns of the Equitable Experience. JIA 12: 235-238.
  • William Palin Elderton and Maurice E Ogborn (1943). The mortality of adult males since the middle of the eighteenth century as shown by the experience of life assurance companies. Journal of the Royal Statistical Society 106(1): 1-31.
  • Ogborn, M.E. and Storr-Best, R.H. (1959). Arthur Morgan's mortality experience. JIA 85: 300-309 [on the consolidated experience of lives assured 1762-1829]

Books and papers feature exposition of the Society's archives

  • Report in 1761 of the Attorney and Solicitor-General on the petition for a charter for the Equitable Life Assurance Society. JIA (Assurance Magazine) (1848-1851) 1(2): 89*-92*.(Transcript of Solicitor-General’s initial rejection of the application for a charter establishing the Society for Equitable Assurances.)
  • Institute of Actuaries (1948). Catalogue of exhibition illustrating the history of actuarial science in Great Britain with special reference to the Institute of Actuaries, 21-25 June 1948. Proceedings of the Institute of Actuaries Centenary Assembly. (Cambridge University Press, 1950).(Several manuscripts and items then belonging to the Equitable Life Assurance Society were lent to this exhibition.)
  • Thomas, D.O. and Peach, B. (eds.) (1983). The correspondence of Richard Price. Volume I. July 1748 – March 1778. (Cardiff: University of Wales, 1983). ‘Appendix. Calendar with extracts of the correspondence of Richard Price and John Edwards, Actuary of the Equitable Society, contained in MS Letterbook belonging to the Equitable Life Assurance Society.’
  • Haberman, S. and Sibbett, T.A. (eds.) (1995). History of actuarial science: Volume V. Life insurance. (London: William Pickering, 1995). Includes:
    • James Dodson, "First lecture on Insurances" [manuscript] (1756)
    • [Edward Rowe Mores], A Short Account of the Society for Equitable Assurances on Lives and Survivorships’, established by Deed inrolled in His Majesty’s Court of King’s-Bench at Westminster. London, 1762.
    • William Morgan, "Comparison of the Decrements of Life in the Society with those of the Northampton Table 1790", "Comparison of the Decrements of Life as above for 29 years from 1768 to 1796", "Comparison of the Decrements of Life in the Society with those in Dodson’s & Halley’s & Simpson’s Tables", "Surplus stock of the Equitable Society determined on January 1st 1776 by finding the seperate [sic] of the Members in their respective Policies &c. &c." (Manuscript reproduced in {link to:}William Morgan F.R.S., 1750-1833{/documents/william-morgan-frs-1750-1833}, JIA 64 (1933): 364-365.)
    • William Morgan, The Doctrine of Annuities and Assurances on Lives and Survivorships, stated and explained by William Morgan… To which is added, An Introduction addressed to the Society… By the Reverend Dr. [Richard] Price., 1779.

Selected reference works on actuarial and insurance history

  • Anderson, J.G. (1940). The birthplace and genesis of life assurance and other essays. With an introduction by Sir William Palin Elderton. 2nd edition. (London: Frederick Muller, 1940).
  • Cox,P.R. and Storr-Best, R.H. (1962). Surplus in British life assurance: actuarial control over its emergence and distribution during 200 years. (Cambridge University Press, 1962).
  • Surplus: two hundred years of actuarial advance. JIA 89: 19-60. (A presentation on their book by the authors)
  • Raynes, H.E. (1964). A history of British insurance. 2nd edition. (London: Isaac Pitman, 1964).
  • Haberman, S. and Sibbett, T.A. (eds.) (1995). History of actuarial science. (London: William Pickering, 1995). [Facsimile presentation of transcripts of original texts in ten volumes].
  • Lewin, C.G. (2003). Pensions and insurance before 1800. (Tuckwell Press, 2003).

The Equitable Archive and genealogical research

  • Bowsher, E. (2019). Assessing the genealogical value of a potential new source: the value of the Equitable Life Assurance Society archives, 1762-1835. The Journal of Genealogy and Family History 3(1): 41-51.
    https://doi.org/10.24240/23992964.2019.1234521

The Institute and Faculty of Actuaries (IFoA) is keen to invite and encourage new researchers to this field and welcomes those researching for expositions on wider history and related topics. Actuaries with experience of historical texts would be happy to share their experiences and offer assistance with research and writing articles.

Contact Details

For any library enquiries please contact:

libraries@actuaries.org.uk

We try to respond to email queries within one working day. Researcher access to historical resources may require notice in advance of visit in order to retrieve items from storage.

Filter or search events

Start date
E.g., 17/06/2019
End date
E.g., 17/06/2019

Events calendar

  • Webinar Series: Risk and Investment Conference 2019, 17 June

    These are online webinar events
    17 June 2019

    Spaces available

    The IFoA’s Risk Management and Finance and Investment Boards are delighted to host a series of webinars covering a range of topical and trending topics ranging from climate related risks to Brexit.

  • Spaces available

    Increasing 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.

     

  • Pensions Conference 2019

    Bristol Marriott Hotel City Centre, 2 Lower Castle Street, Old Market, Bristol, BS1 3AD
    18-19 June 2019
    Spaces available

    Five plenaries and 13 workshops cover current topics and industry trends in the Pension sector with the opportunity to develop your network at the pre-conference evening dinner (18 June).  There is also a day ticket option available for the 19 June. 

  • KSS event – FinTech and The Actuarial Profession

    EY, Atria One, 144 Morrison Street, Edinburgh
    19 June 2019

    Spaces available

    This 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 

  • Current Issues in General Insurance (CIGI) 2019

    Inmarsat, 99 City Road, London, EC1Y 1BJ
    19 June 2019

    Spaces available

    CIGI 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. 

  • Cass Event – New Thinking about Deferred Annuities

    Cass Business School, Executive Education Facilities 200 Aldersgate St, London EC1A 4HD
    21 June 2019

    Spaces available

    Our 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.

  • IFoA/SAS Joint Professional Skills Training – Singapore

    Room 903, NTUC Centre, Level 9, One Marina Boulevard, Singapore 018989
    25 June 2019

    Spaces available

    The 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.

  • Webinar Series: Risk and Investment Conference 2019, 26 June

    These are online webinar events.
    26 June 2019

    Spaces available

    The IFoA’s Risk Management and Finance and Investment Boards are delighted to host a series of webinars covering a range of topical and trending topics ranging from climate related risks to Brexit.

  • AGM and Presidential Address 2019 + Volunteer and Member Drinks Reception

    The Hub  Castlehill Edinburgh EH1 2NE
    26 June 2019

    Spaces available

    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.

  • 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 7ZL
    27 June 2019 - 29 June 2019

    Spaces available

    The 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.

  • IFoA/ASM Joint Professional Skills Training – Kuala Lumpur

    Menara AIA, Auditorium, 99 Jalan Ampang, 50450, Kuala Lumpur
    28 June 2019

    Spaces available

    The 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.

  • SIAS: The Impact of Air Pollution on Health and Life Expectancy

    Staple Inn Hall, High Holborn, London, WC1V 7QJ
    2 July 2019

    Spaces available

    Air 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.

  • Spaces available

    The actuarial profession has much to offer the world of banking. In this webinar actuaries with experience in various fields of banking will talk about the opportunities there are in banking; describing the actuarial aspects of the work they do as well as other roles within their area of banking.

  • Implications of 2019 IFRS 17 Exposure Draft

    Staple Inn Hall, High Holborn, London, WC1V 7QJ
    24 July 2019

    Spaces available

    Towards the end of June, the International Accounting Standards Board (IASB) is expected to publish an Exposure Draft (ED) of limited changes to its insurance contracts standard IFRS 17, effective date 2022. To help IFoA members, the IFoA’s cross-practice Financial Reporting Group (FRG) is hosting an event at Staple Inn covering these developments. 

    For more information on the FRG please visit this webpage

  • KSS event – The Regulatory Perspective

    Deloitte Saltire Court 20 Castle Terrace Edinburgh EH1 2EG
    5 September 2019

    Spaces available

    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
  • Sessional Research Event - Risk Margin Working Party

    Staple Inn Hall, High Holborn London, WC1V 7QJ
    9 September 2019

    Spaces available

    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 Conference 2019

    EICC, The Exchange, 150 Morrison St, Edinburgh EH3 8EE
    24-26 September 2019
    Spaces available

    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. 

     

  • Autumn Lecture 2019, London - Rt Hon Nicky Morgan MP

    Lincoln's Inn The Treasury Office, London WC2A 3TL
    2 December 2019

    Spaces available

    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.