Pub Date : 1900-01-01DOI: 10.1017/S007136860000015X
D. Carment
Although the question of the valuation of Provident and Pension Funds has recently been so exhaustively treated by Mr. Manly in his two papers appearing in the Journal of the Institute of Actuaries (vol. xxxvi, p. 207, and vol. xxxvii, p. 193), I have been rash enough on the present occasion to undertake to contribute a few practical notes with reference to the subject, with the view of further elucidating, if possible, the effect of the assumption of varying rates of mortality before and after the pension age, of secessions, of different scales of salaries, and of different rates of interest.
{"title":"Some Practical Notes on the Valuation of Pension Funds","authors":"D. Carment","doi":"10.1017/S007136860000015X","DOIUrl":"https://doi.org/10.1017/S007136860000015X","url":null,"abstract":"Although the question of the valuation of Provident and Pension Funds has recently been so exhaustively treated by Mr. Manly in his two papers appearing in the Journal of the Institute of Actuaries (vol. xxxvi, p. 207, and vol. xxxvii, p. 193), I have been rash enough on the present occasion to undertake to contribute a few practical notes with reference to the subject, with the view of further elucidating, if possible, the effect of the assumption of varying rates of mortality before and after the pension age, of secessions, of different scales of salaries, and of different rates of interest.","PeriodicalId":121129,"journal":{"name":"Transactions of the Faculty of Actuaries","volume":"28 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114266243","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 1900-01-01DOI: 10.1017/S0071368600006042
J. A. Thomson
{"title":"Alteration of Arrangements in Respect of the Part I. Examination.","authors":"J. A. Thomson","doi":"10.1017/S0071368600006042","DOIUrl":"https://doi.org/10.1017/S0071368600006042","url":null,"abstract":"","PeriodicalId":121129,"journal":{"name":"Transactions of the Faculty of Actuaries","volume":"351 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125631815","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 1900-01-01DOI: 10.1017/S0071368600008806
J. Gray, A. D. Wilkie
{"title":"Notes on Actuarial Education.","authors":"J. Gray, A. D. Wilkie","doi":"10.1017/S0071368600008806","DOIUrl":"https://doi.org/10.1017/S0071368600008806","url":null,"abstract":"","PeriodicalId":121129,"journal":{"name":"Transactions of the Faculty of Actuaries","volume":"28 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122410754","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 1900-01-01DOI: 10.1017/S0071368600001610
A. J. Mascall
The subject of tropical mortality has in the past received a moderate share of attention, and actuaries have at their command various mortality experiences for climates other than temperate. These without exception show higher, in some cases much higher, mortality than that to be expected in this country. These notes have been made with the object of giving some short account of various tropical diseases to which this higher mortality is no doubt to be attributed. The very marked improvement during recent years in tropical vitality among assured lives can be dated from the closing years of last century, when the true cause of such diseases as malaria, filaria, and yellow fever was discovered to be their propagation by certain mosquitoes. Correct methods of prevention or at any rate mitigation of the spread of these diseases were then able to be taken. Although mosquito-borne fevers account for most of the increased mortality in the tropics, certain diseases of the intestinal tract, such as cholera, dysentery and sprue, have their part in bringing about this undesirable state of affairs. Other diseases which cannot be held to have much effect on assured lives , however disastrous they may prove to the native populations, are leprosy, hook-worm disease, beriberi, and pellagra ; and of these some shorter notes are given.
{"title":"Notes on Certain Tropical Diseases.","authors":"A. J. Mascall","doi":"10.1017/S0071368600001610","DOIUrl":"https://doi.org/10.1017/S0071368600001610","url":null,"abstract":"The subject of tropical mortality has in the past received a moderate share of attention, and actuaries have at their command various mortality experiences for climates other than temperate. These without exception show higher, in some cases much higher, mortality than that to be expected in this country. These notes have been made with the object of giving some short account of various tropical diseases to which this higher mortality is no doubt to be attributed. The very marked improvement during recent years in tropical vitality among assured lives can be dated from the closing years of last century, when the true cause of such diseases as malaria, filaria, and yellow fever was discovered to be their propagation by certain mosquitoes. Correct methods of prevention or at any rate mitigation of the spread of these diseases were then able to be taken. Although mosquito-borne fevers account for most of the increased mortality in the tropics, certain diseases of the intestinal tract, such as cholera, dysentery and sprue, have their part in bringing about this undesirable state of affairs. Other diseases which cannot be held to have much effect on assured lives , however disastrous they may prove to the native populations, are leprosy, hook-worm disease, beriberi, and pellagra ; and of these some shorter notes are given.","PeriodicalId":121129,"journal":{"name":"Transactions of the Faculty of Actuaries","volume":"80 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122667533","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 1900-01-01DOI: 10.1017/S0071368600002597
R. Deas
{"title":"An Approximation to the Value of the Reversionary Annuity a x+t — a x:x +1 with Consequent Simplification in the Valuation of Last-Survivor Annuities","authors":"R. Deas","doi":"10.1017/S0071368600002597","DOIUrl":"https://doi.org/10.1017/S0071368600002597","url":null,"abstract":"","PeriodicalId":121129,"journal":{"name":"Transactions of the Faculty of Actuaries","volume":"15 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131281970","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 1900-01-01DOI: 10.1017/S0071368600009940
D. Purchase, A. Fine, C. P. Headdon, T. Hewitson, C. Johnson, I. Lumsden, M. Maple, P. J. O'keeffe, P. J. Pook, D. G. Robinson
{"title":"Reflections on Resilience: Some Considerations of Mismatching Tests, with Particular Reference to Non-Linked Long-term Insurance Business.","authors":"D. Purchase, A. Fine, C. P. Headdon, T. Hewitson, C. Johnson, I. Lumsden, M. Maple, P. J. O'keeffe, P. J. Pook, D. G. Robinson","doi":"10.1017/S0071368600009940","DOIUrl":"https://doi.org/10.1017/S0071368600009940","url":null,"abstract":"","PeriodicalId":121129,"journal":{"name":"Transactions of the Faculty of Actuaries","volume":"102 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127736277","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 1900-01-01DOI: 10.1017/S0071368600004778
C. Boehm, G. Reichel, A. Bertsche, H. Härlen, Manfred Helbig, G. Heubeck, P. Leepin, G. Lindauer, E. Neuburger, B. Romer, A. Schütz, K. Wolff
{"title":"Proposals for an International Actuarial Publication Language and its Representation in Computer Compatible Form","authors":"C. Boehm, G. Reichel, A. Bertsche, H. Härlen, Manfred Helbig, G. Heubeck, P. Leepin, G. Lindauer, E. Neuburger, B. Romer, A. Schütz, K. Wolff","doi":"10.1017/S0071368600004778","DOIUrl":"https://doi.org/10.1017/S0071368600004778","url":null,"abstract":"","PeriodicalId":121129,"journal":{"name":"Transactions of the Faculty of Actuaries","volume":"30 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132821665","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 1900-01-01DOI: 10.1017/S0071368600006297
J. B. Marshall
It must be said at the outset that it is no part of the purpose of this paper to outline a method by which general movements of the gilt-edged market may be forecast. The reason for this is simple, as it requires no great exercise of modesty to disclaim qualification for such a task. The paper's purpose is, rather, to analyse the group's characteristics, to study the components of an individual security, and finally to suggest a policy whereby a life office can obtain a reasonable return on its gilt-edged portfolio.
{"title":"British Government Securities.","authors":"J. B. Marshall","doi":"10.1017/S0071368600006297","DOIUrl":"https://doi.org/10.1017/S0071368600006297","url":null,"abstract":"It must be said at the outset that it is no part of the purpose of this paper to outline a method by which general movements of the gilt-edged market may be forecast. The reason for this is simple, as it requires no great exercise of modesty to disclaim qualification for such a task. The paper's purpose is, rather, to analyse the group's characteristics, to study the components of an individual security, and finally to suggest a policy whereby a life office can obtain a reasonable return on its gilt-edged portfolio.","PeriodicalId":121129,"journal":{"name":"Transactions of the Faculty of Actuaries","volume":"23 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133255614","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 1900-01-01DOI: 10.1017/S007136860000759X
D. W. A. Donald
The paper records the growth in the number of apportionments of trust funds due to the passing of the “Trusts (Scotland) Act 1961”. It considers the problems, as they arise in Scotland, of allowing for the impact of taxation, both in determining the interests to be valued and in fixing the valuation rate of interest, and it is suggested that the same net rate of interest need not necessarily be appropriate for all the beneficiaries. Numerical examples are given of the effects on funds of varying size and investment content of various valuation assumptions, and the problem of disposing of the potential savings in taxation is discussed. The paper ends with a general section covering some practical points in the preparation of schemes to vary trust purposes.
{"title":"Apportionment of Trust Funds By Mutual Consent","authors":"D. W. A. Donald","doi":"10.1017/S007136860000759X","DOIUrl":"https://doi.org/10.1017/S007136860000759X","url":null,"abstract":"The paper records the growth in the number of apportionments of trust funds due to the passing of the “Trusts (Scotland) Act 1961”. It considers the problems, as they arise in Scotland, of allowing for the impact of taxation, both in determining the interests to be valued and in fixing the valuation rate of interest, and it is suggested that the same net rate of interest need not necessarily be appropriate for all the beneficiaries. Numerical examples are given of the effects on funds of varying size and investment content of various valuation assumptions, and the problem of disposing of the potential savings in taxation is discussed. The paper ends with a general section covering some practical points in the preparation of schemes to vary trust purposes.","PeriodicalId":121129,"journal":{"name":"Transactions of the Faculty of Actuaries","volume":"54 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133449140","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 1900-01-01DOI: 10.1017/S0071368600009174
J. Hunter, E. J. Jones
1.1. This paper developed from an earlier paper given by the authors to the New Zealand Society of Actuaries. The authors were involved in acquisitions and mergers at a time when there was very little actuarial literature on the subject. Since then, the 1980 International Congress of Actuaries had as one of its subjects “Estimating the Value of Insurance Companies and Portfolios” and a wealth of papers appeared on the subject of pricing life funds. However, the aspect of merging life funds does not appear to have been covered to the same extent.
{"title":"Merging Life Funds.","authors":"J. Hunter, E. J. Jones","doi":"10.1017/S0071368600009174","DOIUrl":"https://doi.org/10.1017/S0071368600009174","url":null,"abstract":"1.1. This paper developed from an earlier paper given by the authors to the New Zealand Society of Actuaries. The authors were involved in acquisitions and mergers at a time when there was very little actuarial literature on the subject. Since then, the 1980 International Congress of Actuaries had as one of its subjects “Estimating the Value of Insurance Companies and Portfolios” and a wealth of papers appeared on the subject of pricing life funds. However, the aspect of merging life funds does not appear to have been covered to the same extent.","PeriodicalId":121129,"journal":{"name":"Transactions of the Faculty of Actuaries","volume":"8 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133458757","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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