{"title":"Notes on the FT–SE Actuaries Share Indices (United Kingdom Series) in 1993","authors":"J. Brumwell","doi":"10.1017/S0020268100020138","DOIUrl":"https://doi.org/10.1017/S0020268100020138","url":null,"abstract":"","PeriodicalId":81715,"journal":{"name":"Journal of the Institute of Actuaries","volume":"121 1","pages":"179-197"},"PeriodicalIF":0.0,"publicationDate":"1994-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1017/S0020268100020138","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"56679661","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Roles and responsibilities—the actuary in pensions. Joint Actuarial Convention, 12-14 September 1993","authors":"C. Dallard","doi":"10.1017/S0020268100020151","DOIUrl":"https://doi.org/10.1017/S0020268100020151","url":null,"abstract":"","PeriodicalId":81715,"journal":{"name":"Journal of the Institute of Actuaries","volume":"121 1","pages":"259-262"},"PeriodicalIF":0.0,"publicationDate":"1994-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1017/S0020268100020151","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"56679822","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Profit, capital and value in a proprietary life assurance company. A discussion paper","authors":"C. O’Brien","doi":"10.1017/S0020268100020205","DOIUrl":"https://doi.org/10.1017/S0020268100020205","url":null,"abstract":"","PeriodicalId":81715,"journal":{"name":"Journal of the Institute of Actuaries","volume":"24 1","pages":"285-361"},"PeriodicalIF":0.0,"publicationDate":"1994-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1017/S0020268100020205","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"56679877","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Valuation and corporate management in a non-life insurance company","authors":"M. Bride, M. Lomax","doi":"10.1017/S0020268100020217","DOIUrl":"https://doi.org/10.1017/S0020268100020217","url":null,"abstract":"","PeriodicalId":81715,"journal":{"name":"Journal of the Institute of Actuaries","volume":"169 1","pages":"363-440"},"PeriodicalIF":0.0,"publicationDate":"1994-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1017/S0020268100020217","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"56679930","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Money, Credit and Asset Prices . By Gordon Pepper (St. Martin's Press, 1994) £40.00","authors":"R. Thomas","doi":"10.1017/S0020268100020394","DOIUrl":"https://doi.org/10.1017/S0020268100020394","url":null,"abstract":"","PeriodicalId":81715,"journal":{"name":"Journal of the Institute of Actuaries","volume":"121 1","pages":"616-617"},"PeriodicalIF":0.0,"publicationDate":"1994-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1017/S0020268100020394","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"56680158","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Defining and protecting the pension promise","authors":"R. Goode","doi":"10.1017/S0020268100020126","DOIUrl":"https://doi.org/10.1017/S0020268100020126","url":null,"abstract":"The 1993 Jubilee Lecture considered two fundamental questions addressed in the report of the Pension Law Review Committee: when an employee joins an occupational pension scheme, what should the law consider to be the fundamental pension promise; and how should that promise be protected? The factors affecting the employee's expectations are examined in the light of the pension promise, and the conclusion drawn that certain expectations relating to accrued rights should be protected by law, although the employer should be able to control its financial commitments as to future service. The status of surplus, in both an ongoing scheme and in the event of a wind-up, is also considered, and recommendations made as to the use of a surplus if not already dealt with by the scheme rules. The two principal forms of protection for the pension promise which were recommended by the Pension Law Review Committee are discussed; firstly, the introduction of a minimum solvency standard, backed up by tighter rules for the prompt payment of contributions and by enhanced monitoring and reporting requirements for scheme auditors and actuaries; and secondly, the setting up of a statutory compensation fund to cover a deficit in the event of fraud or theft, to be financed by a post-event levy on schemes.","PeriodicalId":81715,"journal":{"name":"Journal of the Institute of Actuaries","volume":"121 1","pages":"161-177"},"PeriodicalIF":0.0,"publicationDate":"1994-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1017/S0020268100020126","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"56679509","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"SOME THOUGHTS ON THE DEVELOPMENT AND STRUCTURE OF THE NEW ZEALAND LIFE INSURANCE INDUSTRY","authors":"M. Adams","doi":"10.1017/S002026810002031X","DOIUrl":"https://doi.org/10.1017/S002026810002031X","url":null,"abstract":"This paper seeks to explain key characteristics of the New Zealand life insurance industry, in particular the important role played by overseas-controlled mutual companies, and the dearth of regulation relative to other countries. It proposes that the dominance of mutual companies reflects the historical development of the New Zealand life insurance market. It also examines how agency theory may help to explain how the market has come to be dominated by mutual companies, and suggests that the unregulated nature of the life insurance industry may reflect the New Zealand government's historical role of direct intervention in the market through the Government Life Office. Further light on this issue is shed by the economic theory of regulation. This theory suggests that cartelisation and reinsurance may help to explain the existence of the unregulated insurance market in New Zealand. The paper concludes that many socio-economic and historical reasons may account for the distinctive features of the New Zealand life insurance industry. The possibilities are presented in this paper as a stimulus for further insurance markets-based research.","PeriodicalId":81715,"journal":{"name":"Journal of the Institute of Actuaries","volume":"121 1","pages":"573-588"},"PeriodicalIF":0.0,"publicationDate":"1994-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1017/S002026810002031X","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"56680049","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
D. Mason, R. Arnold, R. E. Clark, T. E. Crowter, A. Johnston, S. Neil, A. Walton
{"title":"A consideration of book reserve schemes","authors":"D. Mason, R. Arnold, R. E. Clark, T. E. Crowter, A. Johnston, S. Neil, A. Walton","doi":"10.1017/S0020268100020291","DOIUrl":"https://doi.org/10.1017/S0020268100020291","url":null,"abstract":"","PeriodicalId":81715,"journal":{"name":"Journal of the Institute of Actuaries","volume":"121 1","pages":"491-559"},"PeriodicalIF":0.0,"publicationDate":"1994-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1017/S0020268100020291","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"56680329","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Pensions. By David Wainman (Sweet & Maxwell, 1992) £55.00","authors":"Rose Walkling","doi":"10.1017/S0020268100020175","DOIUrl":"https://doi.org/10.1017/S0020268100020175","url":null,"abstract":"","PeriodicalId":81715,"journal":{"name":"Journal of the Institute of Actuaries","volume":"121 1","pages":"267-267"},"PeriodicalIF":0.0,"publicationDate":"1994-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1017/S0020268100020175","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"56679841","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"The Stock Market. By Cliff Pratten (Cambridge University Press, 1993) £27.95","authors":"R. Scadden","doi":"10.1017/S0020268100020370","DOIUrl":"https://doi.org/10.1017/S0020268100020370","url":null,"abstract":"","PeriodicalId":81715,"journal":{"name":"Journal of the Institute of Actuaries","volume":"121 1","pages":"615-615"},"PeriodicalIF":0.0,"publicationDate":"1994-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1017/S0020268100020370","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"56680117","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}