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The Actuary The magazine of the Institute & Faculty of Actuaries


Institute Council has announced that the following authors have been awarded prizes:

  • Richard Willetts, Adrian Gallop, Tony Leandro, Joseph Lu, Angus Macdonald, Keith Miller, Stephen Richards, Neil Robjohns, John Ryan, and Howard Waters for the paper ‘Longevity in the 21st Century’. It was felt that this paper contained original ideas, was well written, topical, extremely relevant, and of immediate practical use. The paper was presented to the Faculty on 15 March 2004 and to the Institute on 26 April 2004.
  • Tim Sheldon and Andrew Smith for their paper ‘Market-consistent valuation of life assurance companies’. It was felt that this was a technically competent paper which delivered a new focus in this field as well as introducing some new issues, and would be a good reference paper. The paper was presented to the Institute on 23 February 2004.

In addition, the following papers were highly commended:

  • ‘The measurement and modelling of commercial real estate performance’ by Philip Booth and Gianluca Marcato; the paper was presented to the Institute on 22 September 2003.
  • ‘Quantifying operational risk in general insurance companies’ by Michael Tripp, Helen Bradley, Russell Devitt, George Orros, Gregory Overton, Louise Pryor, and Richard Shaw; the paper was presented to the Institute on 22 March 2004.