October 2008 www.the-actuary.org.uk
Contents
TheActuary
October 2008
Circulation
18,724
(July 2007 to
June 2008)
p28
The rise and rise of LDI
Ross Pritchard charts the
increasing sophistication
of liability driven investment
solutions for pension schemes
32 Do you have a healthy TEAM?
Sheila Anstead, Joanne Alder and Chris Coote ask if
reserving practices for critical illness, income protection
and PMI are in good health
34 Stronger, fitter, faster
Lukas Steyn discusses optimal pension plan investment
strategies to ensure efficient portfolio management
36 Be fair and share
Alistair Sclare argues the case for claims sharing in the
SME health insurance market
37 Opening new doors
Roger Dix examines the opportunities available to
actuaries within enterprise risk management
38 `A decade of regulatory failure'
Roy Colbran reviews the Ombudsman's controversial
report on Equitable Life
40 World association
Chris Daykin traces the International Actuarial Association's
heritage and significant achievements to date
41 A nudge in the right direction
Peter Tompkins talks to Nudge co-author Richard Thaler
about the book that is taking the business world by storm
Features
News
12 Profession
18 Education and research
20 Industry
24 People/Society
26 SIAS notices
27 Calendar and events
46 Appointments and moves
Comment
3 Editorial
Margaret de Valois says actuaries must hold
firm in the face of outlier events
6 President's address
From new Faculty president Ronnie Bowie
8 Letters
In which actuaries discuss the weather, the
credit crunch, and the merits of various models
10 Soapbox
Paul Wilmott says quantitative finance egotists
could learn much from actuaries
Regulars
42 Student page
Are two actuarial hearts better than one?
43 Arts
The George Lewkowicz Edinburgh
Fringe experience
44 Puzzles
Tom Bratcher makes his debut
47 Appointments
Ross Pritchard is the editorial team's
choice for October for his article on
liability driven investment and receives
a �50 book token courtesy of SIAS.
Writer of the month
The following features can be found exclusively on The
Actuary website this month:
n What's up doc? Why one Northamptonshire rabbit
caused a headache for water authorities and insurers
n Playing with fire The dangerous misuse of modern
finance models that sparked the credit crunch
n Net working Johan Strydom looks at networking
opportunities for actuaries online
n 100 not out The development of actuarial science at
the University of Pretoria.
Visit www.the-actuary.org.uk/category/features
More features online
Editorial advisory panel
Peter Tompkins (chairman),
John Batting, Timothy Bramham, Chris
Daykin, Matthew Edwards, Gerard
Francis, Nigel Hayes, Martin Lunnon,
Andrew Smith, Chris Sutton, Paul
Sweeting, Matthew Wheatley
Editor
Margaret de Valois
HSBC Actuaries and Consultants Ltd,
Level 16, 8 Canada Square,
London E14 5HQ
T +44 (0)20 7991 3165
E editor@the-actuary.org.uk
Features editors
Tracey Brown
Lane Clark & Peacock LLP,
30 Old Burlington Street,
London W1S 3NN
T +44 (0)20 7432 3071
E features@the-actuary.org.uk
Marjorie Ngwenya
Swiss Re Life & Health,
30 St Mary Axe,
London EC3A 8EP
T +44 (0)20 7933 3163
E features@the-actuary.org.uk
Industry news editor
Louisa Lobo
T +44 (0)7719 631 955
E news@the-actuary.org.uk
People/society news editor
Amy Guna
Grant Thornton UK
T +44 (0)7879 453 949
E social@the-actuary.org.uk
Student page editors
Jennifer May
Hewitt Associates,
6 More London Place,
London SE1 2DA
T +44 (0)20 7939 4000
E jenandjean@the-actuary.org.uk
Jean Eu
RGA UK, IFC Level 40,
25 Old Broad Street,
London EC2N 1HQ
T +44 (0)20 7448 8255
E jenandjean@the-actuary.org.uk
Arts page editors
Matthew Fewster
JPMorgan
125 London Wall
London EC24 5AJ
T +44 (0)20 7777 9707
E arts@the-actuary.org.uk
Finn Clawson
Hewitt Associates
6 More London Place
London SE1 2DA
T +44 (0)20 7939 4435
E arts@the-actuary.org.uk
Puzzles editor
Tom Bratcher
Watson Wyatt Worldwide,
Watson House, London Road,
Reigate, Surrey,
RH2 9PQ
E puzzles@the-actuary.org.uk

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