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)
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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What are the advantages of using artificial intelligence (AI) in investing? What are the differences between traditional quant and AI? This new webinar discusses challenges and the future of AI in the investment sector.
Delivered by the IFRS 17 Contractual Service Margin working party.
The Certified Actuarial Analyst (CAA) qualification has rapidly established itself as adding real value, to insurers and consultancies, and to the clients of consultancies, around the World. CAAs work alongside actuaries and actuarial students, as well as other financial services professionals, in an increasingly broad range of roles and fields.
This session is a repeat of the one earlier today at 09:30
Many individuals and institutions have a long-term focus, and invest funds for the benefit of future generations. Their strategy should reflect their long horizon. University endowments are one of the oldest classes of institutional investor, and I will present the first study of the management of these endowments over the very long term.
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.
This year's Life Conference 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 life insurance field via online webinars. All sessions will be recorded and made available to purchase and re-watch post-event on the IFoA's website.
This webinar will provide an update on the emerging thinking around future regulation of DB schemes:
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.
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.
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.