On Thursday 20 October the IFoA held our awards ceremony for our thought leadership essay competition, the Frank Redington Prizes, sponsored by Milliman and Punter Southall.
The prizes were launched in October 2021 to encourage and promote thought leadership in actuarial science, and builds on our ‘Finance in the Public Interest’ webinar series (bit.ly/Finance_public_interest) that ran in 2021 and was re-run this year.
The competition sought views on two topics and the winners were chosen by our judging panel, chaired by the economist Sir John Kay and also comprising Torsten Bell, chief executive at the Resolution Foundation, Sally Bridgeland, chair and non-executive director at asset management and insurance companies, and David Heath CBE, chair of the IFoA Policy Advisory Group. The winning entries are as follows:
What would be a sustainable economic and finance system for the public interest?
- 1st prize – Martin White FIA
- 2nd prize – Chris Sutton FIA
- The panel also commended entries by Aled Jones FIA and Sandy Trust FIA
What would be a sustainable and effective UK pension system for the people?
There was no clear winner in this category, so the judges decided to commend equally:
- Colm Fagan FIA
- Nick Silver FIA
- Craig Turnbull FIA
Sir John Kay said: “We received a wide range of submissions for both topics covered by these prizes. It is clear that a lot of time, effort and serious thought has gone into the essays considered by the judging panel. We found it fascinating to read about the original ideas and potential solutions being put forward, which aim to tackle some of the biggest challenges of our time. We would like to congratulate all those receiving the prizes for demonstrating how actuarial science can engage with these complex societal issues.”
IFoA President Matt Saker added: “These prizes have been a continuation of our 2021 Thought Leadership series focused on ‘Finance in the Public Interest’. They are part of a wider strategy to encourage and promote critical thinking in areas of actuarial science through a public interest lens and we’ve been impressed by the creative ideas from our winning and commended entries. We would like to thank our panel of judges for their time and interest in the Frank Redington Prizes. We would also like to thank our sponsors Milliman and Punter Southall for helping to support this endeavour.”
You can read the winning entries on the IFoA website at actuaries.org.uk/frank-redington-prizes/
Thank you to everyone involved in helping to make the prizes a success.