Aspects of Pricing in the London Market

Abstract

Actuaries have become increasingly involved in general insurance, and, in particular, in the London Market. This paper examines the management of the pricing process in the context of the London Market, and deals with concepts such as profit testing, risk and reward, and setting underwriting targets. The key area covered is the communication of a strategy in a meaningful way that can be controlled at the operating level.

Modelling the Impact of Reinsurance on Financial Strength

“…The ovals are tools outside the model, which may be necessary to convert company data into the required form. They include the GIS model (Bdlton et al (1995) and 1)4.6.7), reinsurance pricing tools (Sanders et al, 1995) and actuarial models, such as the probability distributions of claims and reserving packages.…”