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The Actuary The magazine of the Institute & Faculty of Actuaries
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Variable annuities sessional meetings announced

Variable Annuities is the subject of the Faculty Sessional Meeting on 17 March. The paper (by MC Ledlie, DP Corry, GJ Finkelstein, AJ Ritchie, K Su and CDE Wilson) provides a detailed overview of variable annuities and the market in the UK and overseas. It considers the definition of variable annuity and introduces common terminology used in the variable annuity market. It also covers the current state of the UK and other international markets and, by reference to a simplified product, presents an analysis of customer outcomes, pricing, reserving, risk management and hedging. The paper ends with a description of current UK pensions legislation and how it potentially constrains product development.

The meeting will be held at 5pm (tea from 4.30pm) at The Royal College of Physicians, 9 Queen Street, Edinburgh. This paper will also be presented at the Institute Sessional Meeting on 31 March at 5pm at Staple Inn Hall, High Holborn, London.