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What — and when — is a 1:200 event?

The concept of a "one in two hundred" (1:200) event over a one-year time horizon is well established as a reserving standard for insurance in several territories: the ICA in the United Kingdom, the SST in Switzerland and the forthcoming Solvency II standard for the entire European Union.

12 November 2015 Written by: Stephen RichardsTags: Spanish influenza pandemic, mortality shocks, longevity shocks, Solvency II, ICA, SST, VaR, value-at-risk

Sense and sensitivity

Annuities are a good example of the cornerstone of actuarial work: discounting future probabilities of payment to allow for the time value of money. Low interest rates have had major consequences for savers looking for income in retirement, but they are also one reason behind renewed actuarial focus on longevity in recent years.

13 July 2011 Written by: Stephen RichardsTags: Solvency II, longevity risk, longevity shocks, gilt yields