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Equity Release Mortgages

The expansion of insurers investing in the Equity Release Mortgages (ERM), and the asset’s long term use to back annuity portfolios, brings ERM into scope of the “matching adjustment” of Solvency II.

Key objectives:

  1. To assist the Life Board and Life Research Committee to identify and promote new research on this current hot topic
  2. Preparation for any future consultation responses in relation to ERMs
  3. A review of the consequences for the IFoA from the variation in valuations placed on ERMs, often through actuarial assumptions on common economic factors
  4. To present at IFoA Conferences such as Life Conferences and regional societies (see presentation at the Life Conference 2017)
  5. To produce a final report on actuarial practice in respect of (3) and a separate research paper on approaches to valuation of the no negative equity guarantee and how current actuarial practice could evolve.

Equity Release Working Party Terms of Reference - February 2020 

Outputs

Chair: Craig Turnbull from November 2019, Thomas Kenny from 2016 to November 2019.
Membership: 14
Established: 2016

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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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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. 

  • Autumn Pensions Webinar: To the end game and beyond

    Webinar
    2 December 2020

    Spaces available

    The webinar will discuss the challenges and opportunities schemes face in evaluating end game options, choosing a target state and understanding the impact this strategic decision could have on member outcomes long after the “end state” is reached. Adolfo, Kevin and Rhian bring over 60 years of experience in the industry and a variety of perspectives as scheme actuary, covenant adviser, trustee, de-risking adviser and insurer.

  • Data Science in Banking - Opportunities and Risks

    Webinar
    3 December 2020

    Spaces available

    Retail banking is going through a period of substantial change as it moves into the digital age. Banks have large amounts of data about their customers and about their risks. Open data application programming interface (APIs) and data science are enabling banks to use their data to offer innovative and sometimes personalised services. Data science is also adding value in risk areas such as fraud detection and cyber security. At the same time, the move to online banking is making it easier for firms including fintechs to enter banking without having to establish branch networks.

  • Autumn Pensions Webinar: Cash is King - What next for CDI?

    Webinar
    4 December 2020

    Spaces available

    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.

  • Autumn Pensions Webinar: Legal update - The letter of the law

    Webinar
    7 December 2020

    Spaces available

    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

  • Autumn Pensions Webinar: Impact of Dividends

    Webinar
    8 December 2020

    Spaces available

    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. 

  • An update from the IFoA’s Covid-19 Action Taskforce [ICAT] Risk Management workstreams

    Webinar
    25 January 2021

    Spaces available

    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.