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Ogden Discount Rate

The aims of the Ogden Discount Rate working party will be focused on three key work streams:

  • Consider issues and methodologies actuaries may need to allow for in respect of the core actuarial disciplines. This will include reserving, pricing, capital and reinsurance. This is likely to be principles based.
  • Consider and understand the uncertainties and sensitivities associated with the assumptions underpinning the methodology used to advise on the setting of the discount rate.
  • Establish a framework for estimating a forward looking view of the Ogden discount rate.

Each work stream will give allowance to the following:

  • Consideration of the implementation of dual/multiple rates.
  • Consideration of the discount rate in England & Wales as well as Scotland.
  • Transparent reporting. The working party will report on findings and is not intended to influence the future setting of the personal injury discount rate.
  • Implications for UK personal injury lines of business across both personal lines and London Market (re)insurers. 
  • Overlap with other linked working parties such as PPO, AWP and any other UK injury working party and consideration of whether messaging should be consistent.  
  • Intention to present at GIRO 2021.
 
Chair Mohammad Khan
Membership 11
Established 2020

 

Related documents

Contact Details

If you want more information about this research working party please contact the Communities Team.

professional.communities@actuaries.org.uk

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Start date
E.g., 29/10/2020
End date
E.g., 29/10/2020

Events calendar

  • GIRO 2020 Virtual Conference

    Available to watch globally in November.
    02-13 November 2020
    Spaces available

     

    This year's GIRO has been re-designed as a virtual conference to offer members and non-members the opportunity to get up to date content from leading experts in the general insurance field via online webinars. All sessions will be recorded and made available to purchase and re-watch post-event on the IFoA's GI Online Learning Resource area

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    Cash-flow driven investing is a game-changer for DB pension funds navigating their end-game. Suitable for sponsors who want to reduce risks on their balance sheets. And for trustees, it shifts the focus to providing greater certainty of returns, managing funding level volatility and ensuring they have enough income to pay cash-flow requirements.

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    Patrick Kennedy, Partner at Gateley Legal and Founding Director of Entrust (a leading professional pensions trustee company), will be delivering an update on the latest legal developments during the course of 2020. With both a pensions legal perspective and over 25 years of trustee service, Patrick will seek to highlight how the letter of the law has continued to evolve against the backdrop of a difficult and challenging year

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    The talk will provide an understanding of the priorities and relationships between deficit reduction contributions, in the context of wider scheme funding, and different types of value outflow from the employer based on the working party’s recently published report. 

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    Covid-19 has required an urgent and cross-practice initiative to facilitate the extensive impact this pandemic has across all industries. IFoA members have been keen to contribute in a different way, so we developed the IFoA Covid-19 Action Taskforce [ICAT] to coordinate our effort, with a more efficient governance.

    We have over 500 volunteers and countless topics which we have amalgamated into 93 workstreams.