I went to see Mrs Warren’s Profession, by George Bernard Shaw, at the Sydney Theatre Company this week. A very enjoyable evening, but of more interest to the readers of this blog is Miss Warren’s profession: ‘I shall set up chambers in the City, and work at actuarial calculations. Last MayContinue Reading
Via Paul Krugman, I read the most polite putdown from an actuary I’ve seen for a while. In an op-ed in the NY Times, Gary King and Somar Soneji alleged that Social Security projections understate life expectancy and are therefore far too optimistic: We reached these conclusions, and presented them in an article inContinue Reading
Mortality has been improving in Australia (and indeed most of the world) for a long time. As my dad found out recently, the life expectancy at birth for a boy born in Australia has improved from 63 when he was born, to 79.7 years now. But there is considerable debateContinue Reading
So far I haven’t managed to kill the entire world population… but I’m getting there. Plague Inc is a strategy game in which you “must bring about the end of human history by evolving a deadly, global Plague whilst adapting against everything humanity can do to defend itself.” It’s aContinue Reading
In a previous post, I wondered whether Appointed Actuaries were moving into a compliance role, partly driven by the new ICAAP requirements from APRA for insurance companies. Well I’m not the only one who has been thinking about the role of Appointed Actuaries. We had a session at the ActuariesContinue Reading
The Stronger Super reforms are the biggest change to superannuation in Australia since the introduction of the superannuation guarantee 20 years ago. The changes are aimed at improving the integrity of the superannuation system, and to provide a better deal for super members who do not manage their own funds.Continue Reading
As insurance companies start to implement ICAAP ahead of the 1 January 2013 deadline next year, they are thinking through what best practice looks like; not necessarily to implement it now, but to try to move in the right direction. One aspect of the new standards which is new from a regulatoryContinue Reading
I’ve been away on holiday (Kuala Lumpur, lovely and warm!) for a week. Here are a few interesting articles that caught my eye while I was away. The Morpeth Flood model – Morpeth is a town in the UK that was flooded very badly in 2008. They’ve proposed a newContinue Reading
As if life and general insurance capitals changes weren’t enough, PHIAC has released an initial consultation paper on changes to health insurance standards. In this guest post, health actuaries David Torrance and Ben Ooi have more: PHIAC has released a Capital Standards Review Consultation Package with responses due by 1Continue Reading
Reading Bruce Schneier’s new book Liars and Outliers: Enabling the Trust that Society Needs to Thrive (reviewed here) made me think about the management of a life insurance company using a security lens. And underwriting is the part of a life insurance company’s management that lends itself most to a securityContinue Reading
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