Actuarial News

The Weekly Actuary

Keep yourself updated with the latest actuarial related news in the world today

February 21, 2018

Zurich has launched the UK Innovation Foundry led by Mark Budd, UK head of innovation, which aims to address ever-changing customer demands and embed a culture of innovation throughout the insurer.

The Innovation Foundry aims to seek long-term partnerships rather than focus on M&A or acquisition. This ‘start-to-finish’ level of collaboration will entail greater learning for all parties as well as d...

February 21, 2018

Trustee boards and The Pensions Regulator should adopt the Black Box Thinking approach to managing issues faced by defined benefit pension schemes, according to a new report by the Pensions Institute.

A defined benefit (DB) pension scheme is one where the amount you’re paid is based on how many years you’ve worked for your employer and the salary you’ve earned.

The new approach developed by author a...

February 14, 2018

Pension transfer values as measured by the Xafinity Transfer Value Index fell steadily during January 2018, falling from £236,000 at the end of December 2017, to £231,000 at the end of January 2018.

The Xafinity Transfer Value Index tracks the transfer value that would be provided by an example Defined benefit (DB) scheme to a member aged 64 who is currently entitled to a pension of £10,000 each ye...

February 14, 2018

The Pensions Regulator (TPR) has today announced that one million employers in the UK are now automatically enrolling their staff into a workplace pension.

The first three-year review into the effectiveness of automatic enrolment (AE) was published at the end of last year and it concludes that AE has been a success to date, with another nine million workers having workplace pensions since 2012, mak...

February 7, 2018

Starting in February, the no-commission stock trading company will allow its users to buy and sell Bitcoin and Ethereum, as well 14 other crypto coins (such as Ripple, Litecoin, Bitcoin Cash, etc.).

Co-founder Vlad Tenev said it will be a break-even operation which the company doesn’t plan to profit from–instead, it will be used to grow their customer base (now at ~3m) and increase paying subscribe...

February 7, 2018

The UK’s bulk annuity market is expected to grow strongly this year with more than £15bn worth of deals over the course of 2018.

What is bulk annuity?

The traditional policy offered by large UK insurers. Pension schemes pay a premium and in exchange the insurer writes an annuity that pays the retirement income of a large chunk of a scheme's pensioners who have already retired.

This increase in market...

February 1, 2018

There were 35 catastrophe bonds worth a total of $10.7bn (£7.6bn) issued in 2017, signifying a record year for the insurance-linked securities (ILS) market.

That is according to a new report from Aon Securities, which shows that the previous annual issuance record of $8.38bn in 2007 had already been surpassed by the end of June last year. In addition, the capacity of all catastrophe bonds active in...

February 1, 2018

Three corporate behemoths - Amazon, Berkshire Hathaway and JPMorgan Chase & Co – announced on Tuesday that they have teamed up to create an independent healthcare company for their employees in the United States, causing the share value of major US health and insurance firms to plummet.

The new not-for-profit company aims to harness the power of technology in order to provide employees with simplif...

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