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The Actuary The magazine of the Institute & Faculty of Actuaries
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General insurance

  • FINAL-BUTTERFLIES4-©-Richard-Gleed- Margins for errorPaul Huber and Nick Kinrade explain how risk margins used in Solvency II and IFRS 17 should be understood and calibrated 08 February 2018
  • iStock The road to balanceThe UK government is to increase the Ogden discount rate to counteract the 2017 reduction, which caused motor insurance and reinsurance premiums to rise significantly. Mohammad Khan, Sundip Mistry and Andrew Corner explore how uncertainty around this change affects insurers 08 February 2018
  • Avoiding-crisis-iStock-646809156 Sponsored feature: Nine steps to avoiding a reporting crisisMany insurers' existing reporting processes have become increasingly unworkable and unsustainable as stakeholder pressure has grown, a state that will only intensify with new IFRS 17 accounting regulations 07 December 2017
  • Old-wooden-abacus-iStock-645092600 IFRS17: Changing standardsGarry Smith and Richard Purcell investigate what the new accounting standard, IFRS 17, means for the insurance industry 07 December 2017
  • Illustration A good gigKaren Brolly considers what effects new technology and the gig economy could have on UK insurance and savings products 07 December 2017
  • p24-Protection-iStock-483893822 Getting it togetherAndrew Lowe explains why an industry-wide contributory claims database would be invaluable for commercial property insurance 09 November 2017
  • Michael-Sanders-Behaviour_058 Science of behaviourMichael Sanders talks data science with actuary Peter Tompkins and explains how behavioural insights can be used to make people do things differently 12 October 2017
  • p26-27---Relay-Baton--iStock-476438256 The wide-ranging implications of IFRS 17The new accounting standard for insurance contracts, IFRS 17, will have wide-ranging implications for (re)insurers, and many firms are preparing for significant changes to their business operations 08 June 2017
  • Alamy--DE6NB8 Good questions with no good answersIn the third of a series of articles, Paul Harwood says experts should persevere in a post-truth world 11 May 2017
  • p20-21Group-Risk--Paper-machett-of-Family-in-dome--Superstock--1815R-12575237 copy Group risk masterclassKatharine Moxham highlights the opportunities and challenges for the group risk protection market and five recent changes that will affect employers 13 April 2017
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Actuaries in general insurance

Actuarial involvement in general insurance has grown significantly in recent years. Nowadays, general insurance actuaries might help insurance companies estimate the reserves they require for future claims as well as identify the other management information they need.

Actuaries will also work on rating insurance products in areas such as motor and household insurance where large volumes of data exist. In other fields, they will advise building societies on the capital requirements for their own insurance companies, and advise reinsurance companies on their rates for 'excess of loss reinsurance'.

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