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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

  • Professional Skills Training Webinar - 12 August 2020

    Webinar
    12 August 2020

    Spaces available

    A Trusted Profession

    This free 1 hour CPD webinar is designed to meet the IFoA’s Stage 3 Professional Skills Training under the IFoA’s CPD Scheme 2019/2020 and is suitable for actuaries working in any area (i.e. it is not specifically aimed at Pensions, GI or any other technical discipline) and is interactive.

  • PHC Conference webinar: Cancer morbidity risk modelling – regional variation over time

    Webinar
    12 August 2020

    Spaces available

    Part of the Protection, Health and Care Conference 2020 webinar series

    Modelling the structure and trends of cancer morbidity risk is important for pricing and reserving in related health insurance fields such as critical illness insurance and care provision. We model the dynamics of cancer incidence over time in different regions in England, using 1981-2016 ONS data. The modelling allows estimation of cancer rates at various age, year, gender and region levels, following a Bayesian setting to account for statistical uncertainty. Our analysis indicates significant regional variation in cancer incidence rates. 

  • PHC Conference webinar: Learnings from our first climate-change related disclosures (TCFD)

    Webinar
    13 August 2020

    Spaces available

    Part of the Protection, Health and Care Conference 2020 webinar series

    In this talk we will outline the steps Aviva took in pulling together our first large-scale disclosures on the exposure of our business to climate change published in March 2019; in line with the recommendations of the Taskforce on Climate-related Financial Disclosures. After touching on why insurers have such an important role in climate change, we'll cover a brief “how-to” guide for those who have not yet embarked on thinking about these topics before giving a case study of how the learnings from a TCFD disclosure exercise can be applied to investment portfolios.

  • PHC Conference webinar: Can we manage Diabetes risk for healthier outcomes

    Webinar
    17 August 2020

    Spaces available

    Part of the Protection, Health and Care Conference 2020 webinar series

    The insurance industry currently underwrites customers with diabetes based on a range of factors, medical expertise and various medical studies. The work undertaken by the Diabetes Working Party would help the industry to approach this using current research findings to update and enhance how potential risk from diabetes is considered. This includes the need to understand the underwriting implications as treatments improve, and potentially to develop new products that are tailored to those with diabetes. This webinar will present our latest findings in the management of this important chronic condition which will include research in collaboration with the ARC. 

  • The new IFoA CPD scheme – What it means for you

    Webinar
    21 August 2020

    Fully booked.

    This event is now fully booked. To join the wait list, please register here.

    Get ready for the new CPD Scheme launching on 1 September. Join us for a discussion on what the new Scheme will look like in practice. There will be an opportunity to field questions to the IFoA Executive on how the Scheme’s requirements will affect you.

  • Asia Conference Webinar Series

    Webinars
    1 September 2020 - 24 September 2020

    Spaces available

    There will be a prestigious line-up of international speakers discussing the insurance and financial industry’s innovation and change in Asia.  The conference will take place throughout September via an online platform. The webinars consist of plenary speaking sessions and a series of workshop sessions including Life, GI, Data Science, Sustainability, Risk Management and Investment.

    This will be the perfect opportunity for you to discover,ask questions and be at the forefront of current and developing actuarial/financial topics and trends in Asia.

     

  • Webinar: Is banking so different to insurance? Comparing an ICAAP with an ORSA

    Webinar
    2 September 2020

    Spaces available

    In this webinar we will provide an insight into enterprise-wide risk management in banking, showing similarities to the world of insurance as well as identifying differences. Just as insurance companies have to submit an ORSA, so bank’s have to submit their own equivalent, the Internal Capital Adequacy Assessment Process or ICAAP.

  • Personal and Professional Lifelong Learning – Supporting CPD Co-ordinators and Others

    Webinar
    23 September 2020

    Spaces available

    This free 90 minute webinar is designed to support the IFoA CPD Co-ordinators, and others, involved in supporting our members to achieve their CPD requirements. 

    The programme will include an overview of the new CPD Scheme; specifically sharing with you key messages to support you implement and embrace the new CPD Scheme for our members within your organisation and regional community; how to arrange a reflective practice discussion; and an interactive reflective practice discussion learning exercise.  In addition, delegates will gain information about accessing, and making the most of the IFoA event Toolkits which you can make use of to run your own in-house events and events for regional communities.