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The Actuary The magazine of the Institute & Faculty of Actuaries

SIAS notices

Tuesday 17 June 2008
Sessional meeting: The Developing Buyout Market
Staple Inn,
5.30pm for 6pm

Over the past two years there has been an increasing number of insurers and other organisations entering the market to meet the requirements of companies wanting to take their pension scheme liabilities off their balance sheet.
This demand has been driven by changes in pension scheme accounting, concerns over longevity, problems caused by volatility in asset values, regulator pressure, PPF levies and the restrictions this has on ongoing company activity. As a result, we have seen larger and more innovative deals coming to market.
The tender process has also become more detailed and sophisticated to allow for both the pricing and non-pricing issues with various strategies used including online auctions, blind bids and beauty parades to ensure the broker is finding the best solution for their client. It is fair to say that the market has now started to take off.
Clive Wellsteed, partner at Lane, Clark & Peacock, and Lisa Mahtani, sales director in Legal & General’s bulk annuity department, describe their experience of this developing market from a broker and insurer perspective closest to the action.

Thursday 26 June 2008
SIAS social event: Chess Tournament
The City Tavern,
29-30 Lawrence Lane,
London EC2

It’s not big and it’s not clever… oh, wait a minute, chess is both of those. Show people chess is a sport and make your opponent sweat. After the success of last year’s tournament, we return to The City Tavern to find out who will be crowned SIAS Chess Champion 2008.
There is free entry, and players of all standards are welcome. The popular group stage returns and, as always, there will be drinking chess as well. Last year’s winner had it too easy — come and show us some real moves.
To pre-register for this event, e-mail alvin.n.kissoon@uk.pwc.com before 20 June. Pre-registration is necessary to enter the tournament. Spectators are also welcome.

Tuesday 22 July 2008
Sessional meeting: Details to be confirmed
Staple Inn Hall, 6pm

Check the SIAS website for the latest updates.

Friday 25 July 2008
SIAS social event: Summer Boat Party
Golden Jubilee Embankment Pier
6.15pm til late

There’s plenty of fish in the sea, so why not come along to the ‘traffic light’ boat party and see what you can catch! Wear green if you fancy your chances, amber if you’re tempted to be hooked or red if you have already netted a good catch.
The action will kick off at 6.15pm at Embankment Pier. Be sure to be on time as the boat will leave at 6.30pm on the dot. Once aboard you will be greeted by welcome drinks and then the real party begins. Be ready to set sail and be blown away for an actionpacked evening along the Thames, full of dancing, entertainment and plenty of food and drink.
Tickets are like gold dust, so be sure to reserve them quickly. Tickets cost £10 for members and £15 for non-members. To reserve a place, please email nilantheny.christie@aig.com by Friday 18 July.

For the latest details of SIAS events, visit www.sias.org.uk