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The Appointed Actuary

Published online by Cambridge University Press:  03 October 2014

Edward A. Johnston
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Extract

1.1 A paper about the Appointed Actuary is essentially a paper about prudential supervision of life insurance companies. The system which has operated in the UK since the mid-1970's is only partly one of Government supervision. Through the professional role of the Appointed Actuary, it also contains elements of a system of self-regulation with the Institute and Faculty of Actuaries standing in place of SRO's. Unlike the self-regulatory arrangements of the Financial Services Act. though, this second part of the system has grown up by custom and practice and in certain respects it is not codified. However it enables the Insurance Companies Act to be operated successfully.

Type
Research Article
Information
Transactions of the Faculty of Actuaries , Volume 41 , 1987 , pp. 559 - 629
Copyright
Copyright © Institute and Faculty of Actuaries 1987

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References

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