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The Actuary The magazine of the Institute & Faculty of Actuaries
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BAJ Volume 9 Part IV

Part IV of British Actuarial Journal (BAJ) Volume 9 is now being published, covering both sessional meetings and submitted learned papers. There is material of interest across a wide range of actuarial practice areas.

One of the welcome innovations in BAJ in recent times has been the introduction of guest editorials and this time the guest is one of the Institute’s honorary fellows, Sir David Tweedie. Sir David’s editorial keeps us up to date with the world of international accounting standards.

The part continues with two topics from sessional meetings. The first is Hibbert and Turnbull on ‘Measuring and managing the economic risks and costs of with-profits business’. This was originally put on as a slide presentation and talk in Edinburgh and was then written up as a more formal paper for an Institute meeting in York. This part contains the paper as it went to the York meeting and the Faculty discussion. (The York discussion will be published separately in Part V.)

The second sessional meeting paper is ‘Genetics and insurance – some social policy issues’ by Daykin et al. This went to meetings in Edinburgh and London and the original paper, the Faculty discussion, and the Institute discussion are all here together. The genetics and insurance theme continues in the first of the academic submitted papers: ‘Highly penetrant genetic disorders: an atlas for critical illness insurance’ by MacDonald and Yang.

The part continues with the second part of RJ Thomson’s ‘The use of utility functions for investment channel choice in defined contribution retirement funds’, entitled ‘A proposed solution’. (Regular readers will recall the first part, ‘Defence’, which was in Part III.) The final submitted paper also discusses risk, utility, and choice, but in a different background. The paper in this part, ‘Risk measures and theories of choice’, by Tsanakas and Desli, is part of a wider research project ‘Coherent risk measures: context and application’ which has had support from a Faculty and Institute research grant. Not all research grants lead to publication of fully refereed papers and it is good to see something of those that do.

The part concludes with another listing of (and abstracts from) papers from actuarial journals worldwide, and readers are reminded of the standing offer from our library service to make the full texts available to interested members.