UK - United Kingdom

  • 1981 12 - SOA - Universal Life in the U.K.?, by Seamus Creedon - 8p
  • 1991-1992 - SOA - Final Report* of the Task Force for Research on Life Insurance Sales Illustrations, Society of Actuaries - 142p
  • 1994 - Lautro - Bullentin 66 Disclosure GN22V1-0 - 14p
  • 2006 - JIR / NAIC - Modernizing Insurance Solvency Regulation: Evidence from the UK - 21p
  • Chancellor of the Exchequer on Economic Situation - [VIDEO-CSPAN]
  • 2009 - SOA - Valuation of Life Insurance Liabilities on a Market-Consistent Basis: Experience from the United Kingdom - 41p
  • We who have watched from a distance the development of Universal Life perceive two key influences:
    1. ...the need to make the form of life assurance contract more responsive to the client's changing circumstances and to volatile economic environment;
    2. ..pressure of competition from a wide range of savings and investment media.

1981 12 - SOA - Universal Life in the U.K.?, by Seamus Creedon - 8p

  • The United Kingdom and Australia have relatively competitive life insurance markets, with many similarities to the North American market.
  • As in our market, ledger illustrations have been employed for Type B comparative cost and performance evaluation.
  • Not surprisingly, these countries have also encountered problems with sales illustrations.  (p161)
  • 4. Standard Assumptions
    • Three possible models have been described in this paper: the illustration of variable life and the illustration practices in the United Kingdom and Australia.
    • These models for standardization of assumptions help the buyer to understand that the illustrated performance varies with the underlying assumptions and is not guaranteed.
    • The Australian requirement that effects of inflation also be demonstrated for the term of the projection has considerable appeal to the Task Force.
    • CONCLUSION: We encourage the AAA and the CIA to consider pursuing this alternative with industry trade groups, professional organizations and regulatory bodies. (p172)

1991-1992 - SOA - Final Report* of the Task Force for Research on Life Insurance Sales Illustrations, Society of Actuaries - 142p

  • Chancellor of the Exchequer on Economic Situation - [VIDEO-CSPAN]
    • Chancellor of the Exchequer Alistair Darling spoke on the global economic situation in the British House of Commons.
    • What started in America.....vs US view AIGFP was the problem in London
    • [Bonk: Connect: CSPAN VIDEO with Skinner... somebody asked what they would be saying "across the pond"...]