Publisher: Cambridge University Press   (Total: 386 journals)

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Showing 1 - 200 of 386 Journals sorted alphabetically
Acta Neuropsychiatrica     Hybrid Journal   (Followers: 6, SJR: 0.733, CiteScore: 2)
Acta Numerica     Hybrid Journal   (Followers: 5, SJR: 6.709, CiteScore: 10)
Advances in Animal Biosciences     Full-text available via subscription   (Followers: 14)
Advances in Applied Mathematics and Mechanics     Full-text available via subscription   (Followers: 2, SJR: 0.441, CiteScore: 1)
Aeronautical J., The     Hybrid Journal   (Followers: 7)
Africa     Hybrid Journal   (Followers: 24, SJR: 0.582, CiteScore: 1)
African Studies Review     Full-text available via subscription   (Followers: 21, SJR: 0.437, CiteScore: 1)
Ageing & Society     Hybrid Journal   (Followers: 43, SJR: 0.756, CiteScore: 2)
Agricultural and Resource Economics Review     Open Access   (Followers: 7, SJR: 0.414, CiteScore: 1)
AI EDAM     Hybrid Journal   (Followers: 2, SJR: 0.375, CiteScore: 1)
AJIL Unbound     Open Access  
AJS Review     Full-text available via subscription   (Followers: 4, SJR: 0.128, CiteScore: 0)
American Political Science Review     Hybrid Journal   (Followers: 335, SJR: 5.587, CiteScore: 4)
Anatolian Studies     Full-text available via subscription   (Followers: 5, SJR: 0.528, CiteScore: 1)
Ancient Mesoamerica     Hybrid Journal   (Followers: 12, SJR: 0.478, CiteScore: 1)
Anglo-Saxon England     Hybrid Journal   (Followers: 36, SJR: 0.1, CiteScore: 0)
animal     Hybrid Journal   (Followers: 4, SJR: 0.842, CiteScore: 2)
Animal Health Research Reviews     Hybrid Journal   (Followers: 3, SJR: 0.69, CiteScore: 2)
Animal Science     Full-text available via subscription   (Followers: 10)
Annals of Actuarial Science     Full-text available via subscription   (Followers: 1)
Annual of the British School at Athens     Full-text available via subscription   (Followers: 16, SJR: 0.177, CiteScore: 0)
Annual Review of Applied Linguistics     Hybrid Journal   (Followers: 44, SJR: 3.223, CiteScore: 4)
Antarctic Science     Hybrid Journal   (Followers: 1, SJR: 0.643, CiteScore: 1)
Antichthon     Full-text available via subscription   (Followers: 3, SJR: 0.101, CiteScore: 0)
Antiquaries J., The     Full-text available via subscription   (Followers: 11, SJR: 0.106, CiteScore: 0)
Antiquity     Hybrid Journal   (Followers: 32)
ANZIAM J.     Open Access   (Followers: 1, SJR: 0.216, CiteScore: 0)
Applied Psycholinguistics     Hybrid Journal   (Followers: 25, SJR: 0.945, CiteScore: 2)
APSIPA Transactions on Signal and Information Processing     Open Access   (Followers: 9, SJR: 0.404, CiteScore: 2)
Arabic Sciences and Philosophy     Hybrid Journal   (Followers: 9, SJR: 0.101, CiteScore: 0)
Arbor Clinical Nutrition Updates     Full-text available via subscription   (Followers: 5)
Archaeological Dialogues     Hybrid Journal   (Followers: 35, SJR: 0.898, CiteScore: 1)
Archaeological Reports     Full-text available via subscription   (Followers: 5, SJR: 0.128, CiteScore: 0)
Architectural History     Full-text available via subscription  
arq: Architectural Research Quarterly     Hybrid Journal   (Followers: 7, SJR: 0.123, CiteScore: 0)
Art Libraries J.     Full-text available via subscription   (Followers: 1)
Asian J. of Comparative Law     Hybrid Journal   (Followers: 11, SJR: 0.129, CiteScore: 0)
Asian J. of Intl. Law     Hybrid Journal   (Followers: 18, SJR: 0.135, CiteScore: 0)
Asian J. of Law and Society     Hybrid Journal   (Followers: 7, SJR: 0.195, CiteScore: 0)
Astin Bulletin     Full-text available via subscription   (Followers: 1, SJR: 0.878, CiteScore: 1)
Australasian J. of Organisational Psychology     Hybrid Journal   (Followers: 9, SJR: 0.154, CiteScore: 1)
Australian J. of Environmental Education     Full-text available via subscription   (Followers: 9, SJR: 0.403, CiteScore: 1)
Australian J. of Indigenous Education, The     Full-text available via subscription   (Followers: 11, SJR: 0.26, CiteScore: 1)
Australian J. of Rehabilitation Counseling     Full-text available via subscription   (Followers: 6, SJR: 0.144, CiteScore: 0)
Austrian History Yearbook     Full-text available via subscription   (Followers: 11, SJR: 0.161, CiteScore: 0)
Behavioral and Brain Sciences     Hybrid Journal   (Followers: 38, SJR: 0.595, CiteScore: 1)
Behaviour Change     Full-text available via subscription   (Followers: 13, SJR: 0.508, CiteScore: 1)
Behavioural and Cognitive Psychotherapy     Hybrid Journal   (Followers: 189, SJR: 0.976, CiteScore: 2)
Bilingualism: Language and Cognition     Hybrid Journal   (Followers: 45, SJR: 1.446, CiteScore: 2)
Biofilms     Full-text available via subscription   (Followers: 2)
Bird Conservation Intl.     Hybrid Journal   (Followers: 25, SJR: 0.581, CiteScore: 1)
BJPsych Advances     Full-text available via subscription   (Followers: 57, SJR: 0.275, CiteScore: 0)
BJPsych Intl.     Open Access   (Followers: 2)
BJPsych Open     Open Access   (Followers: 3)
Brain Impairment     Full-text available via subscription   (Followers: 2, SJR: 0.321, CiteScore: 1)
Breast Cancer Online     Full-text available via subscription   (Followers: 5)
Britannia     Full-text available via subscription   (Followers: 11, SJR: 0.111, CiteScore: 0)
British Actuarial J.     Full-text available via subscription  
British Catholic History     Hybrid Journal   (Followers: 2, SJR: 0.133, CiteScore: 1)
British J. for the History of Science     Hybrid Journal   (Followers: 25, SJR: 0.235, CiteScore: 0)
British J. of Anaesthetic and Recovery Nursing     Full-text available via subscription   (Followers: 8)
British J. of Music Education     Hybrid Journal   (Followers: 24, SJR: 0.564, CiteScore: 1)
British J. Of Nutrition     Hybrid Journal   (Followers: 94, SJR: 1.612, CiteScore: 4)
British J. of Political Science     Hybrid Journal   (Followers: 229, SJR: 4.661, CiteScore: 4)
British J. of Psychiatry     Hybrid Journal   (Followers: 240, SJR: 2.844, CiteScore: 3)
Bulletin of Entomological Research     Hybrid Journal   (Followers: 13, SJR: 0.805, CiteScore: 2)
Bulletin of Symbolic Logic     Full-text available via subscription   (Followers: 2, SJR: 0.555, CiteScore: 1)
Bulletin of the Australian Mathematical Society     Full-text available via subscription   (Followers: 2, SJR: 0.44, CiteScore: 0)
Bulletin of the School of Oriental and African Studies     Hybrid Journal   (Followers: 21, SJR: 0.146, CiteScore: 0)
Business and Human Rights J.     Full-text available via subscription   (Followers: 4, SJR: 0.536, CiteScore: 1)
Business Ethics Quarterly     Full-text available via subscription   (Followers: 18, SJR: 1.098, CiteScore: 2)
Business History Review     Hybrid Journal   (Followers: 16, SJR: 0.347, CiteScore: 1)
Cambridge Archaeological J.     Hybrid Journal   (Followers: 164, SJR: 1.121, CiteScore: 1)
Cambridge Classical J.     Full-text available via subscription   (Followers: 24, SJR: 0.101, CiteScore: 0)
Cambridge J. of Postcolonial Literary Inquiry     Hybrid Journal   (Followers: 7)
Cambridge Law J.     Hybrid Journal   (Followers: 219, SJR: 0.213, CiteScore: 0)
Cambridge Opera J.     Hybrid Journal   (Followers: 4, SJR: 0.14, CiteScore: 0)
Cambridge Quarterly of Healthcare Ethics     Hybrid Journal   (Followers: 12, SJR: 0.299, CiteScore: 1)
Cambridge Yearbook of European Legal Studies     Full-text available via subscription  
Camden Fifth Series     Full-text available via subscription   (Followers: 3)
Canadian Entomologist     Hybrid Journal   (Followers: 5, SJR: 0.482, CiteScore: 1)
Canadian J. of Emergency Medicine     Hybrid Journal   (Followers: 13, SJR: 0.624, CiteScore: 1)
Canadian J. of Law & Jurisprudence     Full-text available via subscription   (Followers: 9, SJR: 0.237, CiteScore: 0)
Canadian J. of Law and Society     Hybrid Journal   (Followers: 21, SJR: 0.259, CiteScore: 1)
Canadian J. of Mathematics / J. canadien de mathématiques     Hybrid Journal  
Canadian J. of Neurological Sciences     Full-text available via subscription   (SJR: 0.549, CiteScore: 1)
Canadian J. of Political Science/Revue canadienne de science politique     Full-text available via subscription   (Followers: 25, SJR: 0.385, CiteScore: 1)
Canadian J. on Aging     Hybrid Journal   (Followers: 14, SJR: 0.426, CiteScore: 1)
Canadian Mathematical Bulletin     Hybrid Journal  
Canadian Yearbook of Intl. Law / Annuaire canadien de droit international     Full-text available via subscription   (Followers: 3)
Cardiology in the Young     Hybrid Journal   (Followers: 34, SJR: 0.372, CiteScore: 1)
Central European History     Full-text available via subscription   (Followers: 33, SJR: 0.159, CiteScore: 0)
Children Australia     Partially Free   (Followers: 2, SJR: 0.255, CiteScore: 0)
China Quarterly     Hybrid Journal   (Followers: 54, SJR: 2.289, CiteScore: 3)
Chinese J. of Agricultural Biotechnology     Full-text available via subscription   (Followers: 4)
Church History : Studies in Christianity and Culture     Full-text available via subscription   (Followers: 77, SJR: 0.106, CiteScore: 0)
Classical Quarterly     Full-text available via subscription   (Followers: 36, SJR: 0.204, CiteScore: 0)
Classical Review     Full-text available via subscription   (Followers: 29)
CNS Spectrums     Hybrid Journal   (Followers: 3, SJR: 1.391, CiteScore: 3)
Cognitive Behaviour Therapist     Hybrid Journal   (Followers: 14)
Combinatorics, Probability and Computing     Hybrid Journal   (Followers: 4, SJR: 0.839, CiteScore: 1)
Communications in Computational Physics     Full-text available via subscription   (Followers: 3, SJR: 1.048, CiteScore: 2)
Comparative Studies in Society and History     Full-text available via subscription   (Followers: 50, SJR: 0.585, CiteScore: 1)
Compositio Mathematica     Full-text available via subscription   (SJR: 3.139, CiteScore: 1)
Contemporary European History     Hybrid Journal   (Followers: 36, SJR: 0.263, CiteScore: 1)
Continuity and Change     Hybrid Journal   (Followers: 12, SJR: 0.107, CiteScore: 0)
Dance Research J.     Full-text available via subscription   (Followers: 17, SJR: 0.211, CiteScore: 0)
Development and Psychopathology     Hybrid Journal   (Followers: 10, SJR: 2.068, CiteScore: 4)
Dialogue Canadian Philosophical Review/Revue canadienne de philosophie     Full-text available via subscription   (Followers: 5, SJR: 0.156, CiteScore: 0)
Diamond Light Source Proceedings     Full-text available via subscription   (Followers: 1)
Disaster Medicine and Public Health Preparedness     Hybrid Journal   (Followers: 15, SJR: 0.471, CiteScore: 1)
Du Bois Review: Social Science Research on Race     Full-text available via subscription   (Followers: 10, SJR: 0.561, CiteScore: 1)
Early China     Hybrid Journal   (Followers: 3)
Early Music History     Hybrid Journal   (Followers: 9, SJR: 0.101, CiteScore: 0)
Earth and Environmental Science Transactions of the Royal Society of Edinburgh     Hybrid Journal   (Followers: 5)
East Asian J. on Applied Mathematics     Full-text available via subscription   (SJR: 0.418, CiteScore: 1)
Ecclesiastical Law J.     Full-text available via subscription   (Followers: 6, SJR: 0.114, CiteScore: 0)
Econometric Theory     Hybrid Journal   (Followers: 20, SJR: 2.915, CiteScore: 1)
Economics and Philosophy     Hybrid Journal   (Followers: 19, SJR: 0.622, CiteScore: 1)
Edinburgh J. of Botany     Hybrid Journal   (SJR: 0.283, CiteScore: 1)
Educational and Developmental Psychologist     Full-text available via subscription   (Followers: 10, SJR: 0.146, CiteScore: 0)
Eighteenth-Century Music     Hybrid Journal   (Followers: 15, SJR: 0.113, CiteScore: 0)
English Language and Linguistics     Hybrid Journal   (Followers: 24, SJR: 0.52, CiteScore: 1)
English Profile J.     Hybrid Journal   (Followers: 2)
English Today     Hybrid Journal   (Followers: 13, SJR: 0.279, CiteScore: 0)
Enterprise & Society : The Intl. J. of Business History     Hybrid Journal   (Followers: 18, SJR: 0.245, CiteScore: 1)
Environment and Development Economics     Hybrid Journal   (Followers: 39, SJR: 0.617, CiteScore: 1)
Environmental Conservation     Hybrid Journal   (Followers: 60, SJR: 1.028, CiteScore: 2)
Environmental Practice     Full-text available via subscription   (Followers: 3, SJR: 0.145, CiteScore: 0)
Epidemiology & Infection     Hybrid Journal   (Followers: 22, SJR: 1.128, CiteScore: 2)
Epidemiology and Psychiatric Sciences     Hybrid Journal   (Followers: 3, SJR: 1.494, CiteScore: 2)
Episteme     Hybrid Journal   (Followers: 12, SJR: 0.756, CiteScore: 1)
Ergodic Theory and Dynamical Systems     Hybrid Journal   (Followers: 2, SJR: 1.193, CiteScore: 1)
Ethics & Intl. Affairs     Full-text available via subscription   (Followers: 17, SJR: 0.557, CiteScore: 1)
European Constitutional Law Review (EuConst)     Full-text available via subscription   (Followers: 36, SJR: 1.009, CiteScore: 1)
European J. of Applied Mathematics     Hybrid Journal   (SJR: 0.52, CiteScore: 1)
European J. of Intl. Security     Hybrid Journal   (Followers: 1)
European J. of Sociology     Hybrid Journal   (Followers: 36, SJR: 0.643, CiteScore: 1)
European Political Science Review     Hybrid Journal   (Followers: 27, SJR: 1.816, CiteScore: 2)
European Review     Hybrid Journal   (Followers: 19, SJR: 0.131, CiteScore: 0)
Evolutionary Human Sciences     Open Access   (Followers: 1)
Experimental Agriculture     Hybrid Journal   (Followers: 14, SJR: 0.542, CiteScore: 1)
Expert Reviews in Molecular Medicine     Hybrid Journal   (Followers: 1, SJR: 1.647, CiteScore: 4)
Fetal and Maternal Medicine Review     Hybrid Journal   (Followers: 6)
Financial History Review     Full-text available via subscription   (Followers: 15, SJR: 0.238, CiteScore: 1)
Foreign Policy Bulletin     Hybrid Journal   (Followers: 6)
Forum of Mathematics, Pi     Open Access   (Followers: 1)
Forum of Mathematics, Sigma     Open Access   (Followers: 1)
Genetics Research     Hybrid Journal   (Followers: 4, SJR: 0.483, CiteScore: 1)
Geological Magazine     Hybrid Journal   (Followers: 16, SJR: 0.966, CiteScore: 2)
Glasgow Mathematical J.     Full-text available via subscription   (SJR: 0.604, CiteScore: 0)
Global Constitutionalism     Hybrid Journal   (Followers: 17)
Global Mental Health     Open Access   (Followers: 9)
Global Sustainability     Open Access   (Followers: 1)
Government and Opposition     Full-text available via subscription   (Followers: 24, SJR: 0.965, CiteScore: 2)
Greece & Rome     Partially Free   (Followers: 30, SJR: 0.113, CiteScore: 0)
Hague J. on the Rule of Law     Full-text available via subscription   (Followers: 15, SJR: 0.271, CiteScore: 1)
Harvard Theological Review     Full-text available via subscription   (Followers: 79, SJR: 0.165, CiteScore: 0)
Health Economics, Policy and Law     Hybrid Journal   (Followers: 29, SJR: 0.745, CiteScore: 1)
Hegel Bulletin     Full-text available via subscription   (Followers: 2)
High Power Laser Science and Engineering     Open Access   (Followers: 3, SJR: 0.901, CiteScore: 3)
Historical J.     Hybrid Journal   (Followers: 41, SJR: 0.247, CiteScore: 1)
History in Africa     Full-text available via subscription   (Followers: 9)
Horizons     Partially Free   (Followers: 1, SJR: 0.129, CiteScore: 0)
Industrial and Organizational Psychology     Hybrid Journal   (Followers: 27, SJR: 0.916, CiteScore: 1)
Infection Control and Hospital Epidemiology     Full-text available via subscription   (Followers: 50, SJR: 1.97, CiteScore: 3)
Intl. & Comparative Law Quarterly     Full-text available via subscription   (Followers: 260, SJR: 0.369, CiteScore: 1)
Intl. Annals of Criminology     Full-text available via subscription  
Intl. J. of Asian Studies     Hybrid Journal   (Followers: 13, SJR: 0.143, CiteScore: 0)
Intl. J. of Astrobiology     Hybrid Journal   (Followers: 4, SJR: 0.548, CiteScore: 1)
Intl. J. of Cultural Property     Full-text available via subscription   (Followers: 14, SJR: 0.253, CiteScore: 1)
Intl. J. of Disability Management Research     Full-text available via subscription   (Followers: 9, SJR: 0.105, CiteScore: 0)
Intl. J. of Law in Context     Hybrid Journal   (Followers: 17, SJR: 0.275, CiteScore: 1)
Intl. J. of Legal Information     Full-text available via subscription   (Followers: 345)
Intl. J. of Microwave and Wireless Technologies     Hybrid Journal   (Followers: 10, SJR: 0.184, CiteScore: 1)
Intl. J. of Middle East Studies     Hybrid Journal   (Followers: 72, SJR: 0.434, CiteScore: 0)
Intl. J. of Technology Assessment in Health Care     Hybrid Journal   (Followers: 14, SJR: 0.714, CiteScore: 1)
Intl. Labor and Working-Class History     Full-text available via subscription   (Followers: 14, SJR: 0.182, CiteScore: 0)
Intl. Organization     Full-text available via subscription   (Followers: 108, SJR: 8.527, CiteScore: 5)
Intl. Psychogeriatrics     Hybrid Journal   (Followers: 12, SJR: 1.048, CiteScore: 2)
Intl. Review of Social History     Full-text available via subscription   (Followers: 28, SJR: 0.315, CiteScore: 1)
Intl. Review of the Red Cross     Full-text available via subscription   (Followers: 12, SJR: 0.214, CiteScore: 0)
Intl. Theory: A J. of Intl. Politics, Law and Philosophy     Hybrid Journal   (Followers: 19, SJR: 2.293, CiteScore: 2)
Iraq     Full-text available via subscription   (Followers: 4)
Irish Historical Studies     Hybrid Journal   (Followers: 7, SJR: 0.103, CiteScore: 0)
Irish J. of Psychological Medicine     Hybrid Journal   (Followers: 2, SJR: 0.221, CiteScore: 0)
Israel Law Review     Hybrid Journal   (Followers: 2, SJR: 0.165, CiteScore: 0)
Italian Political Science Review / Rivista Italiana di Scienza Politica     Hybrid Journal   (Followers: 1)
Itinerario     Full-text available via subscription   (Followers: 11, SJR: 0.158, CiteScore: 0)
J. of African History     Hybrid Journal   (Followers: 22, SJR: 0.348, CiteScore: 1)
J. of African Law     Full-text available via subscription   (Followers: 3, SJR: 0.113, CiteScore: 0)
J. of Agricultural and Applied Economics     Open Access   (Followers: 4, SJR: 0.263, CiteScore: 1)
J. of Agricultural Science     Full-text available via subscription   (Followers: 8, SJR: 0.563, CiteScore: 1)
J. of American Studies     Hybrid Journal   (Followers: 20, SJR: 0.164, CiteScore: 0)
J. of Anglican Studies     Hybrid Journal   (Followers: 8, SJR: 0.101, CiteScore: 0)
J. of Applied Animal Nutrition     Hybrid Journal   (Followers: 4)
J. of Asian Studies     Full-text available via subscription   (Followers: 42, SJR: 0.591, CiteScore: 1)
J. of Benefit-Cost Analysis     Hybrid Journal   (Followers: 4)
J. of Biosocial Science     Hybrid Journal   (Followers: 5, SJR: 0.48, CiteScore: 1)
J. of British Studies     Full-text available via subscription   (Followers: 33, SJR: 0.246, CiteScore: 0)

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Similar Journals
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British Actuarial Journal
Number of Followers: 0  
  Full-text available via subscription Subscription journal
ISSN (Print) 1357-3217 - ISSN (Online) 2044-0456
Published by Cambridge University Press Homepage  [386 journals]
  • Why the pension dashboard is more than a data collection exercise' -
           Abstract of the Edinburgh Discussion
    • PubDate: 2019-01-01T00:00:00.000Z
      DOI: 10.1017/S1357321719000266
      Issue No: Vol. 24 (2019)
  • Improving understanding and transparency around the assessment of
           inflation - Abstract of the London Discussion
    • PubDate: 2019-01-01T00:00:00.000Z
      DOI: 10.1017/S1357321719000278
      Issue No: Vol. 24 (2019)
  • The emergence of compound interest
    • Authors: C. G. Lewin
      Abstract: Compound interest was known to ancient civilisations, but as far as we know it was not until medieval times that mathematicians started to analyse it in order to show how invested sums could mount up and how much should be paid for annuities. Starting with Fibonacci in 1202 A.D., techniques were developed which could produce accurate solutions to practical problems but involved a great deal of laborious arithmetic. Compound interest tables could simplify the work but few have come down to us from that period. Soon after 1500, the availability of printed books enabled knowledge of the mathematical techniques to spread, and legal restrictions on charging interest were relaxed. Later that century, two mathematicians, Trenchant and Stevin, published compound interest tables for the first time. In 1613, Witt published more tables and demonstrated how they could be used to solve many practical problems quite easily. Towards the end of the 17th century, interest calculations were combined with age-dependent survival rates to evaluate life annuities, and actuarial science was created.
      PubDate: 2019-01-01T00:00:00.000Z
      DOI: 10.1017/S1357321719000254
      Issue No: Vol. 24 (2019)
  • Managing uncertainty – principles for improved decision-making
    • Abstract: This abstract refers to the following paper: Aggarwal, G., Bird, C., Cox, A., Durkin, T., Kaye, P., Marcuson, A., Masters, T., Regan, N., Restrepo, S., Shah, N., Smith, A., Stock, R., Strudwick, M., Toller, J., White, W., White, S. and Wilkinson, R. Managing Uncertainty: Principles for Improved Decision Making.
      PubDate: 2019-01-01T00:00:00.000Z
      DOI: 10.1017/S1357321719000205
      Issue No: Vol. 24 (2019)
  • Climate risk reporting practices by UK insurance companies and pension
    • Authors: P. Klumpes; M. Acharyya, G. Kakar, E. Sturgess
      Abstract: Increasing global concern over the impact of climate change has recently led to public scrutiny over the adequacy of existing risk management practices by insurance companies and pension schemes in dealing with these challenges that potentially impact both individual actuaries and the Institute and Faculty of Actuaries generally. Most recently, the Prudential Regulation Authority has issued further guidance concerning its expectations for the UK insurance industry regarding the development of an approach to disclosure on and management of the financial risks from climate change, while a Parliamentary Committee has demanded public clarification from UK pension scheme trustees regarding their degree of engagement with incorporating climate-related financial risks into their investment decision-making. The aim of this paper is to identify the dominating factors of the current evolvement of UK insurance companies’ and pension schemes’ climate risk disclosure practices. This paper analyses both the nature and extent of changes in the risk reporting practices of these entities that have evolved in order to meet these demands for increased accountability. We first analyse relevant sections of latest annual reports produced by a sample of 15 UK insurance companies and 15 pension schemes. We find only limited alignment of insurance firm and pension scheme annual reports with the 11 specific Task Force on Climate-Related Financial Disclosure’s (TCFD) recommended disclosures. We also examine what key financial risk and/or other organisational characteristics are most closely associated with the degree of alignment with TCFD specified disclosures related to governance, strategy, risk management and performance metrics. We find that incentives facing sample insurance companies to align their climate-related disclosures with TCFD recommendations are related to their management of reputation risk (measured on the basis of size and type of business). Whereas the incentives facing pension schemes are related to the desire to reduce information asymmetry (measured by liability risk) among their stakeholders concerning this issue. Further, consistent with a stakeholder theory explanation, it appears that only a minority of large, publicly listed insurance companies and large local government pension schemes are taking action to report on their actions to mitigate climate risk. We also discuss examples of best practice climate risk reporting. The implications for the actuarial profession in engaging with climate risk are discussed in line with the findings of the study.
      PubDate: 2019-01-01T00:00:00.000Z
      DOI: 10.1017/S1357321719000229
      Issue No: Vol. 24 (2019)
  • Brexit: democratic success or failure' - Abstract of the Edinburgh
    • PubDate: 2019-01-01T00:00:00.000Z
      DOI: 10.1017/S1357321719000242
      Issue No: Vol. 24 (2019)
  • Still living with mortality: the longevity risk transfer market after one
    • Authors: D. Blake; A. J. G. Cairns, K. Dowd, A. R. Kessler
      Abstract: This paper updates Living with Mortality published in 2006. It describes how the longevity risk transfer market has developed over the intervening period, and, in particular, how insurance-based solutions – buy-outs, buy-ins and longevity insurance – have triumphed over capital markets solutions that were expected to dominate at the time. Some capital markets solutions – longevity-spread bonds, longevity swaps, q-forwards and tail-risk protection – have come to market, but the volume of business has been disappointingly low. The reason for this is that when market participants compare the index-based solutions of the capital markets with the customised solutions of insurance companies in terms of basis risk, credit risk, regulatory capital, collateral and liquidity, the former perform on balance less favourably despite a lower potential cost. We discuss the importance of stochastic mortality models for forecasting future longevity and examine some applications of these models, e.g. determining the longevity risk premium and estimating regulatory capital relief. The longevity risk transfer market is now beginning to recognise that there is insufficient capacity in the insurance and reinsurance industries to deal fully with demand and new solutions for attracting capital markets investors are now being examined – such as longevity-linked securities and reinsurance sidecars.
      PubDate: 2019-01-01T00:00:00.000Z
      DOI: 10.1017/S1357321718000314
      Issue No: Vol. 24 (2019)
  • The genomic underpinnings of human lifespan: diseases and prediction'
           Abstract of the Edinburgh Discussion
    • PubDate: 2019-01-01T00:00:00.000Z
      DOI: 10.1017/S1357321719000230
      Issue No: Vol. 24 (2019)
  • DEREK FRANK RENN CBE PhD FIA FSS FSoCAntiquaries 1930–2019
    • Authors: Chris Daykin
      PubDate: 2019-01-01T00:00:00.000Z
      DOI: 10.1017/S1357321719000217
      Issue No: Vol. 24 (2019)
  • Wearables and the internet of things: considerations for the life and
           health insurance industry – CORRIGENDUM
    • Authors: A. Spender; C. Bullen, L. Altmann-Richer, J. Cripps, R. Duffy, C. Falkous, M. Farrell, T. Horn, J. Wigzell, W. Yeap
      PubDate: 2019-01-01T00:00:00.000Z
      DOI: 10.1017/S1357321719000187
      Issue No: Vol. 24 (2019)
  • Equity release mortgages (ERM)
    • Abstract: This abstract relates to the following interim paper: Kenny, T., Golding, C., Craske, G., Dobinson, A., Gunter, S., Griffiths, O., Hayes, N., Mockridge, A., Robertson, S., Saundh, R. and Thorpe, J., Actuarial management of equity release mortgages: current practice and issues in the actuarial management of ERMs in the UK. This paper is available on the Institute and Faculty of Actuaries (IFoA) website at The final paper will be published in due course.
      PubDate: 2019-01-01T00:00:00.000Z
      DOI: 10.1017/S1357321719000163
      Issue No: Vol. 24 (2019)
  • Investment risk for long-term investors: risk measurement approaches
    • Abstract: This abstract relates to the following paper: Hue, B., Jinks, A., Spain, J., Bora, M. and Siew, S. (2019) Investment risk for long-term investors: risk measurement approaches: considerations for pension funds and insurers. British Actuarial Journal, 24, e16, doi: 10.1017/S1357321719000102.
      PubDate: 2019-01-01T00:00:00.000Z
      DOI: 10.1017/S1357321719000175
      Issue No: Vol. 24 (2019)
  • Calibration of VaR models with overlapping data
    • Authors: Ralph Frankland; Andrew D. Smith, James Sharpe, Rishi Bhatia, Stuart Jarvis, Parit Jakhria, Gaurang Mehta
      Abstract: Under the European Union’s Solvency II regulations, insurance firms are required to use a one-year VaR (Value at Risk) approach. This involves a one-year projection of the balance sheet and requires sufficient capital to be solvent in 99.5% of outcomes. The Solvency II Internal Model risk calibrations require annual changes in market indices/term structure for the estimation of risk distribution for each of the Internal Model risk drivers. This presents a significant challenge for calibrators in terms of:
      Robustness of the calibration that is relevant to the current market regimes and at the same time able to represent the historically observed worst crisis;
      Stability of the calibration model year on year with arrival of new information.The above points need careful consideration to avoid credibility issues with the Solvency Capital Requirement (SCR) calculation, in that the results are subject to high levels of uncertainty.For market risks, common industry practice to compensate for the limited number of historic annual data points is to use overlapping annual changes. Overlapping changes are dependent on each other, and this dependence can cause issues in estimation, statistical testing, and communication of uncertainty levels around risk calibrations.This paper discusses the issues with the use of overlapping data when producing risk calibrations for an Internal Model. A comparison of the overlapping data approach with the alternative non-overlapping data approach is presented. A comparison is made of the bias and mean squared error of the first four cumulants under four different statistical models. For some statistical models it is found that overlapping data can be used with bias corrections to obtain similarly unbiased results as non-overlapping data, but with significantly lower mean squared errors. For more complex statistical models (e.g. GARCH) it is found that published bias corrections for non-overlapping and overlapping datasets do not result in unbiased cumulant estimates and/or lead to increased variance of the process.In order to test the goodness of fit of probability distributions to the datasets, it is common to use statistical tests. Most of these tests do not function when using overlapping data, as overlapping data breach the independence assumption underlying most statistical tests. We present and test an adjustment to one of the statistical tests (the Kolmogorov Smirnov goodness-of-fit test) to allow for overlapping data.Finally, we explore the methods of converting “high”-frequency (e.g. monthly data) to “low”-frequency data (e.g. annual data). This is an alternative methodology to using overlapping data, and the approach of fitting a statistical model to monthly data and then using the monthly model aggregated over 12 time steps to model annual returns is explored. There are a number of methods available for this approach. We explore two of the widely used approaches for aggregating the time series.
      PubDate: 2019-01-01T00:00:00.000Z
      DOI: 10.1017/S1357321719000151
      Issue No: Vol. 24 (2019)
  • Wearables and the internet of things: considerations for the life and
           health insurance industry
    • Authors: A. Spender; C. Bullen, L. Altmann-Richer, J. Cripps, R. Duffy, C. Falkous, M. Farrell, T. Horn, J. Wigzell, W. Yeap
      Abstract: The aim of this research was to look at the emergence of wearable technology and the internet of things (IoT) and their current and potential use in the health and care area. There is a wide and ever-expanding range of wearables, devices, apps, data aggregators and platforms allowing the measurement, tracking and aggregation of a multitude of health and lifestyle measures, information and behaviours. The use and application of such technology and the corresponding richness of data that it can provide bring the health and care insurance market both potential opportunities and challenges. Insurers across a range of fields are already engaging with this type of technology in their proposition designs in areas such as customer engagement, marketing and underwriting. However, it seems like we are just at the start of the journey, on a learning curve to find the optimal practical applications of such technology with many aspects as yet untried, tested or indeed backed up with quantifiable evidence. It is clear though that technology is only part of the solution, on its own it will not engage or change behaviours and insurers will need to consider this in terms of implementation and goals. In the first weeks of forming this working party, it became evident that the potential scope of this technology, the information already out there and the pace of development of it, is almost overwhelming. With many yet-unanswered questions the paper focuses on pulling together in one place relevant information for the consideration of the health and care actuary, and also to open the reader’s eyes to potential future innovations by drawing on use of the technology in other markets and spheres, and the “science fiction–like” new technology that is just around the corner. The paper explores:
      an overview of wearables and IoT and available measures,
      examples of how this technology is currently being used,
      data considerations,
      risks and challenges,
      future technology developments and
      what this may mean for the future of insurance.Insurers who engage now are likely to be on an evolving business case model and product development journey, over which they can build up their understanding and interpretation of the data that this technology can provide. An exciting area full of potential – when and how will you get involved'
      PubDate: 2019-01-01T00:00:00.000Z
      DOI: 10.1017/S1357321719000072
      Issue No: Vol. 24 (2019)
  • The stochastic full balance sheet model
    • Authors: Bill Curry
      Abstract: This paper describes the use of a stochastic model of the full regulatory balance sheet of an insurer under the Solvency II regime. The purpose of the model is to enable firms to understand the key risks that threaten the regulatory solvency of the firm and therefore its long-term business objectives.
      PubDate: 2019-01-01T00:00:00.000Z
      DOI: 10.1017/S1357321719000126
      Issue No: Vol. 24 (2019)
  • Cyber operational risk scenarios for insurance companies - Abstract of the
           London Discussion
    • Abstract: This abstract refers to the following paper: Egan, R., Cartagena, S., Mohamed, R., Gosrani, V., Grewal, J., Acharyya, M., Dee, A., Bajaj, R., Jaeger, V.-J., Katz, D., Meghen, P., Silley, M., Nasser-Probert, S., Pikinska, J., Rubin, R. & Ang, K. (2019). Cyber operational risk scenarios for insurance companies. British Actuarial Journal, 24: e6. doi:10.1017/S1357321718000284
      PubDate: 2019-01-01T00:00:00.000Z
      DOI: 10.1017/S1357321719000138
      Issue No: Vol. 24 (2019)
  • Hot topics in health and care
    • Abstract: This abstract relates to the following papers:Groyer, A. & Campbell, R. (2019) Digital health and disability claims. British Actuarial Journal 24: e11. doi:10.1017/S1357321719000011Woo, G. (2019) Age-dependence of the 1918 pandemic. British Actuarial Journal 24: e3. doi:10.1017/S1357321719000023Link, S. (2019) Long term care reform in Germany – at long last. British Actuarial Journal 24: e17. doi:10.1017/S1357321719000096.
      PubDate: 2019-01-01T00:00:00.000Z
      DOI: 10.1017/S1357321719000114
      Issue No: Vol. 24 (2019)
  • Autumn Lecture 2018, presented by Baron Myners of Truro: in investment how
           do we define long term' – Abstract of the Edinburgh Discussion
    • PubDate: 2019-01-01T00:00:00.000Z
      DOI: 10.1017/S135732171900014X
      Issue No: Vol. 24 (2019)
  • Long-term care reform in Germany – at long last
    • Authors: S. Link
      Abstract: Demographic and societal changes make it more and more indispensable to protect against the risk of care costs surpassing a person’s financial means. Nevertheless, only few governments have acted to create public funding systems that, if existent at all, usually only cover part of the expenses for elder care. Long-term care insurance (LTCI) is designed to fund basic care needs in later life, such as washing and dressing. Regardless of where individuals receive this support in old age, how it is funded is a growing issue. In many countries, people may augment their compulsory state system with private policies available from insurance companies.In Germany, a well-established public system that underwent major reforms exists. From 2017 onwards, a completely new care definition and assessment process replaced the former ones. Two major changes constitute the reform: First, when evaluating the need for care, the former focus on estimating the length of time required for care was replaced by the determination of the degree of independence. Second, cognitive impairments will be acknowledged more adequately than in the past, where the focus was on physical abilities. Furthermore, the contribution to be paid by the care recipient in a nursing home will no longer be dependent on the severity of the care need.In Germany, private LTC products used a combination of the social security definition, an ADL-based trigger and a dementia trigger until the end of 2016. Thus, the reform has repercussions for the local private insurance industry. What would happen to in-force business, how a new benefit trigger should look like, how old and new definition compare and how pricing rates can be derived were only some of the questions that had to be answered in advance.The reform could point the way for future public schemes and private policies elsewhere. Which questions had to be answered and what issues had to be solved in advance, together with lessons learned during and shortly after the reform was undertaken, can serve as an accompaniment for the introduction or reform of public LTC schemes and for the local insurance industry in other countries.
      PubDate: 2019-01-01T00:00:00.000Z
      DOI: 10.1017/S1357321719000096
      Issue No: Vol. 24 (2019)
  • Investment risk for long-term investors: risk measurement approaches:
           Considerations for pension funds and insurers
    • Authors: B. Hue; A. Jinks, J. Spain, M. Bora, S. Siew
      Abstract: The term ‘investment risk’ is often used loosely, and frequently confused with the notion of short-term price volatility, particularly for equity instruments. For the long-term investor, however, what is most apposite is the ability to meet future real cash flows as they become due. This paper addresses the concept of economic fundamentals of long-term investment, the objectives of long-term investors (and how these differ from those of short-term investors), the notion of real value shortfall risk, what is meant by an investor’s risk capacity (as opposed to risk appetite) and liquidity management considerations. Subsequently, some of the constraints and barriers to appropriate risk measurement and management are considered, in particular the regulatory and behavioural biases that are overlaid on fundamental asset/liability management. Various alternative approaches to measuring risk, and their appropriateness for purpose, are outlined, in the hope of further informing the discussion and thereby helping to accelerate productive change.
      PubDate: 2019-01-01T00:00:00.000Z
      DOI: 10.1017/S1357321719000102
      Issue No: Vol. 24 (2019)
  • Actuarial methods: are we serving the public interest' Abstract of the
           Edinburgh Discussion
    • PubDate: 2019-01-01T00:00:00.000Z
      DOI: 10.1017/S1357321719000047
      Issue No: Vol. 24 (2019)
  • A stochastic implementation of the APCI model for mortality projections
    • Authors: S. J. Richards; I. D. Currie, T. Kleinow, G. P. Ritchie
      Abstract: The Age-Period-Cohort-Improvement (APCI) model is a new addition to the canon of mortality forecasting models. It was introduced by Continuous Mortality Investigation as a means of parameterising a deterministic targeting model for forecasting, but this paper shows how it can be implemented as a fully stochastic model. We demonstrate a number of interesting features about the APCI model, including which parameters to smooth and how much better the model fits to the data compared to some other, related models. However, this better fit also sometimes results in higher value-at-risk (VaR)-style capital requirements for insurers, and we explore why this is by looking at the density of the VaR simulations.
      PubDate: 2019-01-01T00:00:00.000Z
      DOI: 10.1017/S1357321718000260
      Issue No: Vol. 24 (2019)
  • A stochastic implementation of the age–period–cohort improvement
           (APCI) model ‐ Abstract of the London Discussion
    • Abstract: This abstract relates to the following paper: Currie, I., Kleinow, T., Richards, S. and Ritchie, G. (2019) A stochastic implementation of the APCI model for mortality projections. British Actuarial Journal. Cambridge University Press, 24. doi:10.1017/S1357321718000260.
      PubDate: 2019-01-01T00:00:00.000Z
      DOI: 10.1017/S1357321718000168
      Issue No: Vol. 24 (2019)
  • Digital health and disability claims
    • Authors: A. Groyer; R. Campbell
      Abstract: Digital technology is starting to enable new and improved modes of healthcare delivery. The healthcare and disability claims spaces are closely intertwined. Disability claimants certainly have healthcare needs but disability claims management has the added dimension of supporting return to work.In this paper, we explain what is meant by the term “Digital Health.” We then compare the challenges in the healthcare and disability claims management spaces where digital technology may improve outcomes. We touch briefly on how the efficacy of digital technology may be evaluated. The later parts of the paper focus on Digital Health technology providers who have engaged with the insurance industry and we conclude with some learnings around the challenges of implementing these technology-based opportunities.This paper focuses on interventions once a policyholder’s health has failed to the extent that they need to claim. There are many opportunities to improve wellness and prevent claim using digital technology, as noted by the IFoA Wearables and Internet of Things Working Party,1 and we do not discuss these further this paper.
      PubDate: 2019-01-01T00:00:00.000Z
      DOI: 10.1017/S1357321719000011
      Issue No: Vol. 24 (2019)
  • Recalculation of the Solvency II transitional measures on technical
    • Authors: J. Cooke; A. Scott, D. Smith, A. Rogan, R. Cooper, S. Morgan, A. Plotnek, N. Kenyon, S. Bhalla
      Abstract: Solvency II came into force on 1 January 2016 and included a transitional measure on technical provisions (“TMTP”) designed to help smooth in the capital impact of Solvency II over a 16-year period. The working party’s view is that the main intention of the TMTP is to mitigate the impact of the introduction of the risk margin, which significantly increases the technical provisions of firms, relative to their Solvency I Pillar 2 liabilities.The majority of firms who hold a TMTP have now had at least one recalculation approved by the Prudential Regulation Authority (PRA); or are in the process of applying for a recalculation. Despite this large number of approved recalculations, there remains significant uncertainty in the industry around the approach and triggers for recalculation.This paper considers aspects of TMTP recalculation for regulated UK life firms, for example practicalities of the calculation, asset and liability considerations, and communications/announcements.In this paper, we outline the need for pragmatism when considering the approach to recalculation of a measure originally intended to serve as the bridge between two regimes. We call for an allowance for doing what is sensible in a principles-based regime balancing what might be more theoretically correct with what is practical and possible to support effective management of the business.
      PubDate: 2019-01-01T00:00:00.000Z
      DOI: 10.1017/S1357321718000302
      Issue No: Vol. 24 (2019)
  • How medical advances and health interventions will shape future longevity
           ‐ Abstract of the Edinburgh Discussion
    • Abstract: This abstract relates to the following paper: Gitsels, L. A., Kulinskaya, E. & Wright, N. R. How medical advances and health interventions will shape future longevity. British Actuarial Journal. doi: 10.1017/S1357321719000059
      PubDate: 2019-01-01T00:00:00.000Z
      DOI: 10.1017/S1357321718000326
      Issue No: Vol. 24 (2019)
  • How medical advances and health interventions will shape future longevity
    • Authors: L. A. Gitsels; E. Kulinskaya, N. R. Wright
      Abstract: Medicine-related research includes numerous studies on the hazards of mortality and what risk factors are associated with these hazards, such as diseases and treatments. These hazards are estimated in a sample of people and summarised over the observed period. From these observations, inferences can be made about the underlying population and consequently inform medical guidelines for intervention. New health interventions are usually based on these estimated hazards obtained from clinical trials. A lengthy lead time would be needed to observe their effect on population longevity. This paper shows how estimated mortality hazards can be translated to hypothetical changes in life expectancies at the individual and population levels. For an individual, the relative hazards are translated into the number of years gained or lost in “effective age”, which is the average chronological age with the same risk profile. This translation from hazard ratio to effective age could be used to explain to individuals the consequences of various diseases and lifestyle choices and as a result persuade clients in life and health insurance to pursue a healthier lifestyle. At the population level, a period life expectancy is a weighted average of component life expectancies associated with the particular risk profiles, with the weights defined by the prevalences of the risk factor of interest and the uptake of the relevant intervention. Splitting the overall life expectancy into these components allows us to estimate hypothetical changes in life expectancy at the population level at different morbidity and uptake scenarios. These calculations are illustrated by two examples of medical interventions and their impact on life expectancy, which are beta blockers in heart attack survivors and blood pressure treatment in hypertensive patients. The second example also illustrates the dangers of applying the results from clinical trials to much wider populations.
      PubDate: 2019-01-01T00:00:00.000Z
      DOI: 10.1017/S1357321719000059
      Issue No: Vol. 24 (2019)
  • Funding Defined Benefit pension schemes: an integrated risk management
    • Authors: C. A. Cowling; H. J. Fisher, K. J. Powe, J. P. Sheth, M. W. Wright
      Abstract: The last 12 years have seen the evolution of a new funding regime under the supervision of the Pensions Regulator. Over this period, there has been significant turbulence in financial markets, including record low interest rates. This paper takes a critical look at the development of funding approaches and methodologies over this period. It analyses the Pensions Regulator guidance and how scheme specific actuarial methods have emerged since the move away from the Minimum Funding Requirement in 2001 and the introduction of the Scheme Specific Funding Requirements in 2005. It asks whether these new methodologies have been successful from the perspective of members, trustees, employers and shareholders. At a time when actuarial valuation methodologies have faced considerable criticism, this paper aims to propose a pension funding methodology which is fit for purpose and also reflects the latest guidance from the Pensions Regulator on integrated risk management.
      PubDate: 2019-01-01T00:00:00.000Z
      DOI: 10.1017/S135732171800034X
      Issue No: Vol. 24 (2019)
  • Funding defined benefit pension schemes: an integrated risk management
           approach – Abstract of the London Discussion
    • Abstract: This abstract relates to the following paper:Cowling, C. A., Fisher, H. J., Powe, K. J., Sheth, J. P. and Wright, M. M. (2019) Funding defined benefit pension schemes: An integrated risk management approach. British Actuarial Journal, Cambridge University Press, 24. doi: 10.1017/S135732171800034X .
      PubDate: 2019-01-01T00:00:00.000Z
      DOI: 10.1017/S1357321718000144
      Issue No: Vol. 24 (2019)
  • Still living with mortality: the longevity risk transfer market after one
    • Abstract: This abstract relates to the following paper: BlakeD., CairnsA. J. G., DowdK. and KesslerA. R.Still living with mortality: the longevity risk transfer market after one decadeBritish Actuarial Journal, 23. doi: 10.1017/S1357321718000314.
      PubDate: 2019-01-01T00:00:00.000Z
      DOI: 10.1017/S1357321718000259
      Issue No: Vol. 24 (2019)
  • Cyber operational risk scenarios for insurance companies
    • Authors: R. Egan; S. Cartagena, R. Mohamed, V. Gosrani, J. Grewal, M. Acharyya, A. Dee, R. Bajaj, V.-J. Jaeger, D. Katz, P. Meghen, M. Silley, S. Nasser-Probert, J. Pikinska, R. Rubin, K. Ang
      Abstract: Cyber Operational Risk: Cyber risk is routinely cited as one of the most important sources of operational risks facing organisations today, in various publications and surveys. Further, in recent years, cyber risk has entered the public conscience through highly publicised events involving affected UK organisations such as TalkTalk, Morrisons and the NHS. Regulators and legislators are increasing their focus on this topic, with General Data Protection Regulation (“GDPR”) a notable example of this. Risk actuaries and other risk management professionals at insurance companies therefore need to have a robust assessment of the potential losses stemming from cyber risk that their organisations may face. They should be able to do this as part of an overall risk management framework and be able to demonstrate this to stakeholders such as regulators and shareholders. Given that cyber risks are still very much new territory for insurers and there is no commonly accepted practice, this paper describes a proposed framework in which to perform such an assessment. As part of this, we leverage two existing frameworks – the Chief Risk Officer (“CRO”) Forum cyber incident taxonomy, and the National Institute of Standards and Technology (“NIST”) framework – to describe the taxonomy of a cyber incident, and the relevant cyber security and risk mitigation items for the incident in question, respectively.Summary of Results: Three detailed scenarios have been investigated by the working party:
      ∙Employee leaks data at a general (non-life) insurer: Internal attack through social engineering, causing large compensation costs and regulatory fines, driving a 1 in 200 loss of £210.5m (c. 2% of annual revenue).
      ∙Cyber extortion at a life insurer: External attack through social engineering, causing large business interruption and reputational damage, driving a 1 in 200 loss of £179.5m (c. 6% of annual revenue).
      ∙Motor insurer telematics device hack: External attack through software vulnerabilities, causing large remediation / device replacement costs, driving a 1 in 200 loss of £70.0m (c. 18% of annual revenue).Limitations: The following sets out key limitations of the work set out in this paper:
      ∙While the presented scenarios are deemed material at this point in time, the threat landscape moves fast and could render specific narratives and calibrations obsolete within a short-time frame.
      ∙There is a lack of historical data to base certain scenarios on and therefore a high level of subjectivity is used to calibrate them.
      ∙No attempt has been made to make an allowance for seasonality of renewals (a cyber event coinciding with peak renewal season could exacerbate cost impacts)
      ∙No consideration has been given to the impact of the event on the share price of the company.
      ∙Correlation with other risk types has not been explicitly considered.Conclusions: Cyber risk is a very real threat and should not be ignored or treated lightly in operational risk frameworks, as it has the potential to threaten the ongoing viability of an organisation. Risk managers and capital actuaries should be aware of the various sources of cyber risk and the potential impacts to ensure that the business is sufficiently prepared for such an event. When it comes to quantifying the impact of cyber risk on the operations of an insurer there are significant challenges. Not least that the threat landscape is ever changing and there is a lack of historical experience to base assumptions off. Given this uncertainty, this paper sets out a framework upon which readers can bring consistency to the way scenarios are developed over time. It provides a common taxonomy to ensure that key aspects of cyber risk are considered and sets out examples of how to implement the framework. It is critical that insurers endeavour to understand cyber risk better and look to refine assumptions over time as new information is received. In addition to ensuring that sufficient capital is being held for key operational risks, the investment in understanding cyber risk now will help to educate senior management and could have benefits through influencing internal cyber security capabilities.
      PubDate: 2019-01-01T00:00:00.000Z
      DOI: 10.1017/S1357321718000284
      Issue No: Vol. 24 (2019)
  • Evolution of economic scenario generators: a report by the Extreme Events
           Working Party members
    • Authors: P. Jakhria; R. Frankland, S. Sharp, A. Smith, A. Rowe, T. Wilkins
      Abstract: Some UK insurers have been using real-world economic scenarios for more than 30 years. Popular approaches have included random walks, time series models, arbitrage-free models with added risk premiums or 1-year Value at Risk distribution fits. Based on interviews with experienced practitioners as well as historical documents and meeting minutes, this paper traces historical model evolution in the United Kingdom and abroad. We examine the possible catalysts for changes in modelling practice with a particular emphasis on regulatory and socio-cultural influences. We apply past lessons to provide some guidance to the direction of capital market modelling in future, which has been key for business and strategy decisions.
      PubDate: 2019-01-01T00:00:00.000Z
      DOI: 10.1017/S1357321718000181
      Issue No: Vol. 24 (2019)
  • Evolution of economic scenario generators – Abstract of the London
    • Abstract: This abstract relates to the following paper: Jakhria, P., Frankland, R., Sharp, S., Smith, A., Rowe, A. and Wilkins, T. (2019) Evolution of economic scenario generators: a report by the Extreme Events Working Party members. British Actuarial Journal. Cambridge University Press, 24. doi:10.1017/S1357321718000181.
      PubDate: 2019-01-01T00:00:00.000Z
      DOI: 10.1017/S1357321719000035
      Issue No: Vol. 24 (2019)
  • Age-dependence of the 1918 pandemic
    • Authors: G. Woo
      Abstract: A well-known feature of the great H1N1 influenza pandemic of a century ago is that the highest mortality rate was amongst young adults. The general explanation has been that they died from an over-reaction of their active immune systems. This explanation has never been very satisfactory because teenagers also have very active immune systems. Recent virological research provides a new perspective, which is important for life and health insurers. There is now strong recent scientific evidence for the principle of antigenic imprinting, where the highest antibody response is against influenza virus strains from childhood. The peak ages of 1918 pandemic mortality correspond to a cohort exposed to the H3N8 1889–1890 Russian influenza pandemic. The vulnerability of an individual depends crucially on his or her exposure to influenza during their lifetime, especially childhood. Date of birth is thus a key indicator of pandemic vulnerability. An analysis of the implications is presented, with focus on those now in their fifties, who were exposed to the H3N2 1968 Hong Kong influenza.
      PubDate: 2019-01-01T00:00:00.000Z
      DOI: 10.1017/S1357321719000023
      Issue No: Vol. 24 (2019)
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Edinburgh, EH14 4AS, UK
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