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The Actuary The magazine of the Institute & Faculty of Actuaries
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News from Nottingham

The Centre for Risk and Insurance Studies at Nottingham University recently issued a survey of the top 20 with-profit life offices’ realistic balance sheets, showing that, on average, the realistic value of assets was 6.33% more than the realistic value of liabilities. The survey is available at: www.nottingham.ac.uk/business/cris/lafs-2005.html.

The Association of British Insurers recently published a report, ‘The economic value of general insurance’, by Stephen Diacon, Chris O’Brien, and Adam Blake. This includes sections on insurance and economic growth, a qualitative assessment of the economic value of insurance, the value of insurance output in national income, and the results of some new modelling of the interactions between insurance and other sectors of the economy. The report can be found at: www.abi.org.uk/generalinsurance.

A new CRIS discussion paper by Paul Fenn and Dev Vencappa analyses the underwriting cycle in the UK motor insurance market 1985–2002, examining a number of hypotheses on the causes of the underwriting cycle. The paper is available from: www.nottingham.ac.uk/businnes/cris/papers/2005-1.pdf.