With profits without mystery
- 1 December 1989
- journal article
- research article
- Published by Cambridge University Press (CUP) in Journal of the Institute of Actuaries
- Vol. 116 (3) , 301-345
- https://doi.org/10.1017/s0020268100036647
Abstract
The paper describes the philosophy of with-profits business which has been developed in the authors' office, as a practical illustration of the running of such business in modern conditions. A description is given of how the philosophy is implemented in the main areas of actuarial management, including valuation methods, bonus distribution, product design and expense control. The discussion is extended to address a number of topics which are the subject of current debate including the financial strength of offices, future bonus prospects and disclosure of expenses.Keywords
This publication has 1 reference indexed in Scilit:
- Review of the Principles of Life-office ValuationsJournal of the Institute of Actuaries, 1952