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Techniques of reserving—the London market

Published online by Cambridge University Press:  20 April 2012

D. H. Craighead
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Extract

This paper has been written to assist Actuaries making an acquaintance with the London reinsurance market and needing assistance with the practical difficulties involved when applying known reserving methods to that market. Examples are given throughout to illustrate every point made and to give emphasis to difficulties that arise in practice. To make the exercise fully realistic, all examples (except a few that are purely illustrative) are ones that have actually arisen in practice. The names of the relevant offices arc not given and all cohorts of values have been multiplied by arbitrary constants which further conceal the identity without derogating from the value of the information that they contain. Graphs are used extensively.

Type
Research Article
Information
Journal of the Institute of Actuaries , Volume 113 , Issue 3 , December 1986 , pp. 411 - 457
Copyright
Copyright © Institute and Faculty of Actuaries 1986

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References

(1) Surveys of Actuarial Studies. Loss reserving methods. De Vylder's method by least squares, p. 47. Published by Nationale—Nederlander N V.Google Scholar
(2) Bornhuetter, R. L. & Ferguson, R. E. The actuary and IBNR. Proceedings of the Casualty Actuarial Society, 59, p. 181.Google Scholar
(3) Craighead, D. H. Some aspects of the London Reinsurance Market in World-wide Short Term business. J.I.A. 106, Part III, p. 227.Google Scholar
(4) Benjamin, PS. & Eagles, L. M. Reserves in Lloyd's and the London Market. J.I.A. 113, Part II, p. 197.Google Scholar