Groupe Consultatif publishes paper on Market Consistency
The Groupe Consultatif Actuariel Européen has published a paper on Market Consistency. The paper summarises the key principles underlying market consistent valuations of assets and liabilities. Its underlying aim is to help actuaries and others best interpret the concept of market consistency in contexts where several possible valuation approaches are or might be proposed.
Institute and Faculty of Actuaries publishes Longevity Bulletin
The Institute and Faculty of Actuaries Longevity Bulletin aims to provide a regular overview of research into longevity trends and a guide to prospects for long life. It presents and explains actuarial perspectives on population longevity and looks beyond the actuarial world for statistics, research and the latest thinking on related subjects. Longevity Bulletin is published every six months. Issue 03 is now available.
CMI publishes analysis of SAPS mortality experience
The Continuous Mortality Investigation (CMI) carries out research into mortality and morbidity experience, based on data supplied by UK life assurance companies and actuarial consultancies.
The CMI has published Working Paper 62, which presents a preliminary analysis of the mortality experience under large self-administered pension schemes for the period 2003 to 2010.
Second International Comparative Study of Mortality Tables for Pension Fund Retirees
A paper entitled a “Second International Comparative Study of Mortality Tables for Pension Fund Retirees” has been published by T.Z.Sithole (Kingston University), S.Haberman and R.J.Verrall (both Cass Business School, City University London).
In the first edition of the Actuarial Profession’s Longevity Bulletin, editor Alison O’Connell publishes the findings of a new comparison of a range of international projections of future longevity that reveals some consistent themes. They are:
Society issues press release on Gender Directive ruling
The European Court of Justice (ECJ) has today ruled that Article 5(2) of the Gender Directive 2004/113/EC breaches European Union gender discrimination laws. Article 5(2) currently permits individual member states to differentiate between men and women when pricing insurance where statistical evidence shows gender is a determining risk factor. The ECJ has ruled that this derogation is invalid from 21st December 2012.
Society responds to consultation on Impact Metrics for Risk Based Supervision
The Society of Actuaries in Ireland has responded to a “Consultation on Impact Metrics for the Risk Based Supervision of Financial Firms by the Central Bank and on Impact Based Levies”.
UK Actuarial Profession commissions research on mortality/longevity/morbidity
The UK Actuarial Profession wishes to commission research in the area of modellingand understanding heterogeneity in mortality and morbidity risk which has an impact in areas of actuarial interest.