The Ogden Discount Rate shock of 2017 brought about a period of profound uncertainty to General Insurance market. GI Actuaries' first task was to estimate the impact of the Ogden shocks, particularly to reserving and reinsurance pricing. Their second was to navigate a period of framework uncertainty, maintaining an agility in actuarial modelling as the Civil Liability Bill took shape.
Three years on and a new Ogden framework has now been established, but what uncertainty remains? This presentation looks looks forward to the lasting impact of this Ogden framework and the considerations to be made for actuarial modelling in Pricing, Reserving and Capital Modelling.