Students may find it useful to consult some of the suggested additional reading from Unit 18 of the SA3 Core Reading to obtain a different viewpoint when studying a particular topic
However, students are not expected to have read all of the items on the list for their chosen subject.
The Institute and Faculty of Actuaries (IFoA) is responsible for setting ethical actuarial standards. The Financial Reporting Council (FRC) is responsible for setting technical actuarial standards. Visit
- the Standards and guidance page of the IFoA's website
- the FRC's website for technical actuarial standards.
- A change agenda for reserving. Report of the General Insurance Reserving Issues Taskforce (GRIT). Jones, T.; Copeman, P.J; Gibson, E.R, et al. British Actuarial Journal (2006) 12(3): 435-619. (DOI:https://doi.org/10.1017/S135732170000461X) (access after member login to IFoA website or via Athens: Cambridge Journals)
- Distribution-free calculation of the standard effort of chain ladder reserve estimates. Mack, T.ASTIN Bulletin (1993) 23(2): 213-225.
(DOI: https://doi.org/10.2143/AST.23.2.2005092) (available via International Actuarial Association website link or Casualty Actuarial Society website link)
- Economic scenario generators and Solvency II; a discussion paper. Varnell, E.M. British Actuarial Journal (2011) 16(1): 121-159.
(DOI:https://doi.org/10.1017/S1357321711000079) (access after member login to IFoA website or via Athens: Cambridge Core)
- Fair value accounting: implications for general insurers. Leigh, J.C.T. Staple Inn Actuarial Society. 46 pages.
- Injury liabilities (US asbestos) [Measurement of asbestos bodily injury liabilities] Cross, S.; Doucette, J. Casualty Actuarial Society Forum (1994) Summer: 161-258.
- Insurance capital as a shared asset. Bear, Robert A., Casualty Actuarial Society Forum (2006) Fall: 587-611. [Referenced in SA3 Core Reading 2019]
- Loss reserves in the London Market. Maher, G. P. M. British Actuarial Journal (1995) 1(4): 689-760.
- Mapping out the route to internal model approval. Morgan, K. Link is to a subscription-based site: insuranceerm.com. Students will have to register for a free trial to access the paper.
- Measurement of US pollution liabilities. Bouska, A.S; McIntyre, T.S. Casualty Actuarial Society Forum (1994) Summer: 73-160. (available via www.casact.org/pubs/forum)
- Modeling the claims development result for solvency purposes. Merz, M.; Wüthrich, M.V. Casualty Actuarial Society Forum (2008) Fall: 542-568. (available via www.casact.org/pubs/forum)
- A note on the overdispersed Poisson family. Schmidt, K.D. Insurance: Mathematics & Economics (2002) 30(1): 21-25.
(DOI:https://doi.org/10.1016/S0167-6687(01)00089-0) (Access this after login to Athens: Science Direct)
- Predictive distributions of outstanding liabilities in general insurance. (2006) Verrall, R.J.Annals of Actuarial Science (2006). 1(2): 221-270.
(DOI: https://doi.org/10.1017/S1748499500000142) (Access this after member login to IFoA website or via Athens: Cambridge Core)
- Quantifying operational risk in general insurance companies Tripp, M. H.; Bradley, H. L.; Devitt, R., et al. British Actuarial Journal (2004) 10(5): 919-1026.
- Reserving and uncertainty. A meta-study of the General Insurance Reserving Issues Task Force and Reserving Oversight Committee research in this area between 2004 and 2009. Gibson, E.R. et al. British Actuarial Journal (2011) 16(1): 63-80.
- Solvency II Technical Provisions for General Insurers. Dreksler, Susan. (chair) et al. General Insurance Reserving Oversight Committee’s Working Party. Paper presented to Institute and Faculty of Actuaries, 2013. (Paper awarded Brian Hey Prize.)
- Statistical motor rating: making effective use of your data. Brockman, M.J.; Wright, T.S. Journal of the Institute of Actuaries (1992) 119: 457-543.
- Stochastic claims reserving in general insurance.England, P.; Verrall, R.J. British Actuarial Journal (2002) 8(3): 443-544.
- The valuation of general insurance companies. Journal of the Institute of Actuaries (199)) 117: 557-669.
(DOI: https://doi.org/10.1017/S0020268100043249) (Access this after member login via Athens: Cambridge Core available in the IFoA Library)
Access articles after ‘Athens’ login to the IFoA eLibrary via the title or DOI links shown. Please contact Library Service to request an Athens account, available to IFoA members and Affiliates.
Conference papers (by year) on Institute and Faculty of Actuaries website
- The cost of compensation culture. Lowe, J.A. et al. Institute of Actuaries and Faculty of Actuaries, General Insurance Convention 2002.
- The management of losses arising from extreme events. Sanders, D.E.A.; Brix, A.; Duffy, P., et al. Institute of Actuaries and Faculty of Actuaries, General Insurance Convention 2002, 2: 1-257.
- The cycle survival kit – An investigation into the reserving cycle and other issues. Archer-Lock, P.; Fisher, S.; Hilder, I.M., et al. Institute of Actuaries and Faculty of Actuaries, General Insurance Convention 2003, 103-145.
- UK asbestos - the definitive guide. Lowe, J.A. et al. Institute of Actuaries and Faculty of Actuaries. General Insurance Convention 2004, 135-354.
- Reinsurance pricing – practical issues and considerations Flower, M.; Cook, I.; Lee, L., et al. (Reinsurance Matters Working Party) Institute of Actuaries and Faculty of Actuaries, General Insurance Convention 2006.
- Best estimates and reserving uncertainty. Gibson, Lis R et al. GIRO Institute of Actuaries and Faculty of Actuaries, General Insurance Convention 2007.
- Quantification and reporting of uncertainty for GI reserving Jones, T.; Copeman, P.J; Gibson, E.R., et al. (Reserving Oversight Committee) Institute of Actuaries and Faculty of Actuaries, General Insurance Convention 2007
- GRIP – General Insurance Premium Rating Issues Working Party Anderson, D.; Bolton, C.G; Callan, G.L, et al.
- Competitive market analysis: an example for motor insurance. Santoni, A.; Folch, E.; Sanche, B. ASTIN Colloquium 2007 (Orlando, 19-22 June 2007).
- Schemes of arrangement and business transfers. Hindley, D. et al. Institute and Faculty of Actuaries. General Insurance Convention 2009.
- Stochastic re-reserving in multi-year internal models - an approach based on simulation. Diers, D. ASTIN Colloquium 2009 (Helsinki, 1-4 June 2009) S4: 1-20
- UK Asbestos Working Party Update 2009 Gravelsons, B.P. et al. Institute of Actuaries and Faculty of Actuaries. General Insurance Convention 2009.
- UK Asbestos Working Party Update 2010. Brooks, R. et al. Institute of Actuaries and Faculty of Actuaries. General Insurance Convention 2010.
- UK Asbestos Working Party Update 2011. Brooks, R. et al. Institute of Actuaries and Faculty of Actuaries. General Insurance Convention 2011.
- Back-testing the ODP bootstrap of the paid chain-ladder model with actual historical claims data. Leong, J.; Wang,S.; Chen, H. Institute and Faculty of Actuaries. General Insurance Convention 2012.
- Periodical Payment Orders Working Party: GIRO 2013 report. Periodical Payment Orders Working Party. [Added for SA3 Core Reading 2015] Institute and Faculty of Actuaries. General Insurance Convention 2013.
Read other papers from General Insurance Research Organisation (GIRO) via the links to the GIRO papers in the IFoA Event Paper Archive. These are papers and presentations released after conferences. Follow links for the year then title of the conference or meeting event.
The Event Paper Archive offers access to presentations released after conferences. Follow links for the year then title of the conference or meeting event.
Other monographs including guidance
- Advisory note on Lloyd’s US opinions. Institute and Faculty of Actuaries. General Insurance Board, 1999.
- Asbestos briefing note. Institute and Faculty of Actuaries. General Insurance Practice Executive Committee. 2010.
- Asbestos liabilities & the new Risk Margins Framework. Riley, B.; Watson, B.S. Institute of Actuaries of Australia. Released through Sydney: Finity Consulting, 2009.
- Fair value accounting: Implications for general insurers. (2004) Leigh, J. C. T. SIAS. 46 pages.
- A framework for assessing risk margins. Marshall, K.; Collings, S.; Hodson, M.; O'Dowd, C. Released through Institute of Actuaries of Australia website, 2008.
- Lloyd's guidance on technical provisions under Solvency II. Look for latest guidance on www.lloyds.com
- Non-modelled risks: a guide to more complete catastrophe risk assessment for (re) insurers. Association of British Insurers, 2014.
- Review and comparison of rating agency capital models (2006) Lebens, J. R.; Morin, F. on behalf of the Casualty Actuarial Society.
Reference sources (references for SA3 Core Reading 2019)
- Actuarial Association of Europe – Solvency II
- European Union. Directive of the European Parliament and of the Council on the taking up and the pursuit of the business of insurance and reinsurance. 2009/138/EC (the 'Solvency II' Directive).
- Financial Conduct Authority – FCA’s approach to supervision
- Financial Conduct Authority – Insurance Conduct of Business Sourcebook (ICOBS)
- Institute and Faculty of Actuaries – Practising Certificates
- Lloyd’s of London – Solvency II
- Prudential Regulation Authority – Solvency II
- The actuarial practice of general insurance. 7th ed. Hart, D.G.; Buchanan, R.A.; Howe, B.A. Institute of Actuaries of Australia, 2007. ISBN 9780858130739.
(Borrow from libraries)
- Claims reserving in general insurance. Hindley, D.J. Cambridge University Press, 2017. ISBN 9781139924696. (Borrow from libraries)
Access ebook after member login to the IFoA Actuarial Knowledge Hub or via Athens - the title is listed among the 'eBooks and ejournals')
The author releases accompanying material for the book: https://davidjhindley.com/shiny/claimsreserving/
Open source ‘R’ code relating to the Appendix: https://github.com/djhindley/shiny-server/tree/master/claimsreserving
Please read Notice and disclaimer about use of this material intended solely as a learning aid.
- Pricing in general insurance. Parodi, P. Chapman & Hall/CRC Press, 2014. ISBN: 9781466581449.
(Borrow from libraries | Access eBook after member login to Actuarial Knowledge Hub via Athens*)
The author also releases accompanying material for the book: www.pricingingeneralinsurance.com
- Foundations of casualty actuarial science. 4th ed. Casualty Actuarial Society. 4th ed. CAS, 2001. ISBN: 0962476226.
(Borrow from libraries)
These Wikis are useful resources for the practising general insurance actuary:
For any library enquiries please contact:
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.
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Data Visualisation helps to communicate information clearly and effectively through graphical means. This talk will showcase some visualisations that the working party has found useful for common actuarial situations. To book you place please contact email@example.com
This General Insurance CPD offering has been changed from former years of individual one day seminars to include individual sessions for IFRS 17, Pricing, Capital Modelling and Reserving over a two-day event packaged as Technical Issues in General Insurance, providing attendees with a varied program . The event is suitable for anyone who works, or are interested, in these areas.
Data Visualisation helps to communicate information clearly and effectively through graphical means. This talk will showcase some visualisations that the working party has found useful for common actuarial situations. To register, please email Ji-Hyang.Lee@Barnett-Waddingham.co.uk
Presented by Yossi Sirote
In collaboration with the Institute and Faculty of Actuaries, IEMA is delighted to host this important Webinar. This is an opportunity to hear first-hand from Steve Waygood, an industry leader and member of the TCFD, and from two leading practitioners from the environmental sustainability and actuarial professions.
Data Visualisation helps to communicate information clearly and effectively through graphical means. This talk will showcase some visualisations that the working party has found useful for common actuarial situations. The event is now full, however if you would like to join a waiting list, please email Barry_shannon@standardlife.com
L'Institut des Actuaires and French actuaries in the UK, partnered with Aviva, are delighted to be hosting their annual "l'afterwork" event for French speaking actuaries in the UK. The event will mix French and English interventions.
Register via this link to be added to the guest list: https://www.eventbrite.com/e/rencontre-annuelle-des-actuaires-francophones-londres-tickets-59758941603
The CMI SAPS Mortality Committee and Mortality Projections Committee will be holding a joint webinar, aimed primarily at pension scheme trustees, describing considerations relating to setting longevity assumptions in 2019.
The 2017 North Atlantic hurricane season was one of the most active on record. We saw multiple hurricanes coming close together causing significant damage and human loss. The talk discusses whether 2017 was an exceptional year or indicative of what we expect to see in the near future, and the implications for (re)insurers.
Offering a diverse selection of plenary sessions and cross-practice workshops, the annual Asia Conference is the perfect opportunity to discover and discuss current and developing actuarial topics in Asia, whilst providing excellent opportunity to grow your network of contacts.
Do you know when, how, and to whom, you are required to Speak Up?
What do we mean by “Misconduct” under the IFoA’s Disciplinary and Capacity for Membership Schemes?
Do you know when, how, and to whom, you are required to Speak Up?
What do we mean by “Misconduct” under the IFoA’s Disciplinary and Capacity for Membership Schemes?
This session will examine our biases, look at what it feels like to be an outsider and give attendees practical tools and actions we can all take to support and grow diversity and inclusion, within the profession. This session is also designed to meet the objectives of the IFoA’s Stage 3 Professional Skills Training for experienced members.
This talk will discuss the various methods available for equalising GMP, key considerations and actions for both Trustees and Companies, and a discussion of some of the associated legal issues. To register, please email Sarah.Dawes@KPMG.co.uk
In this interactive session, our facilitators, Russell Borland and Thomas Chalmers, Partners of UK-based coaching consulting firm, Leading Figures, will explore how we can enhance our EQ to make the most of our IQ. They will introduce an Emotional Intelligence framework developed by psychologist Daniel Goleman and provide participants with an opportunity to personally assess their own Emotional Intelligence. To register please email Caitlin.firstname.lastname@example.org
CILA is one of the pre-eminent events in the annual Life calendar. It is aimed at practicing life actuaries from life offices, consulting firms and other employers of actuaries. It will also be of interest to all those who work in or advise on, the life assurance market in the UK and Europe.
Jointly sponsored by the Institute and Faculty of Actuaries, Society of Actuaries, and CIA, this webcast will present research that compares the risk profiles of pension plans in the UK, the US, and Canada.
This webinar is eligible for CPD
At the end of this session, attendees will be able to:
This KSS talk will give a bulk annuity market update over 2018 and for 2019 and beyond. The presenters will also consider bulk annuity options as part of pension scheme de-risking strategies, and how pension schemes can best prepare when requesting a quote in order to achieve a favourable outcome. Please note this event is now full, however, if you wish to join a waiting list, please email Dawn.Neil@willistowerswatson.com.
This KSS talk will give a bulk annuity market update over 2018 and for 2019 and beyond. The presenters will also consider bulk annuity options as part of pension scheme de-risking strategies, and how pension schemes can best prepare when requesting a quote in order to achieve a favourable outcome. To book a place please email Dawn.Neil@willistowerswatson.com
The aim of this interdisciplinary symposium is to gain understanding and awareness of UK private SMEs about their insurance need as a part of cyber risk management and mitigation strategies.
This year's event begins with a Professional Skills Training plenary to help build your CPD, followed by a formal drinks reception and dinner on the evening of 20 May. The following day will then be a programme full of topical plenaries and workshops covering the latest trends and topical issues in the risk and investment sector with plenty of opportunities to network with colleagues and build your CPD.
On May 20-24 2019, Prof Søren Asmussen (Aarhus University) will deliver a course on lectures on advanced topics in life insurance mathematics. This will be held at the International Centre for Mathematical Sciences, Edinburgh, and will be accompanied by supporting lectures from Prof Corina Constantinescu (University of Liverpool) and Prof Andrew Cairns (Heriot-Watt University). To register, please visit https://www.icms.org.uk/LMSAsmussen.php.
This event is fully booked. To join the waiting list plase click here.
This talk will discuss the various methods available for equalising GMP, key considerations and actions for both Trustees and Companies, and a discussion of some of the associated legal issues. To register please email Sarah.Dawes@KPMG.co.uk
Presented by Richard Schneider
The Mortality and Longevity Symposium aims to expand delegates’ horizons by giving a better view of the scope of current mortality research in a wide variety of relevant disciplines, and by providing a forum to discuss the implications for actuarial practice and it will be of interest to all actuaries concerned with setting or reviewing mortality and longevity assumptions, underwriters, demographers, epidemiologists, policy-
The Protection, Health and Care Conference is an annual conference aimed at all insurance professionals with a passion for harnessing insurance risk in their organisations. The conference uses a combination of workshops by individuals who work at the coalface and ‘big name’ experts to explore how innovation, technological/medical advances, the political landscape and other market development will impact the Protection, Health and Care markets.
Covering current topics and industry trends, the conference also includes a pre-conference evening dinner (18 June) giving you the opportunity to develop your network.
Substantial work has been undertaken in the field of behavioural finance to explore the psychological factors affecting investment decisions made by individuals. In contrast, “behavioural” factors (such as politics or human psychology) affecting decisions and actions made by institutional investors, such as insurers or pension schemes, are less understood.
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
CIGI will provide an excellent and diverse line-up of speakers, each providing their insight and knowledge on a range of topics. The programme will be broad in nature, so will be of most value to those with some experience in the industry.
Fake news, post truth, mistrust of experts... a familiar roll call of anxieties – or perhaps clichés – about our data rich world. They point to an underlying fear that in this data abundant age the bad data drives out the good and we are left with a broken public discourse.
The pensions dashboard has been talked about across the industry for a long time and now nears implementation with DWP’s consultation ending in January 2019.
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.
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.
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.