R. Frankland, A. D. Smith, T. Wilkins, E. Varnell, A. Holtham, E. Biffis, S. Eshun, D. Dullaway
of the discussion held by the faculty of actuaries Mr R. Frankland, F.I.A. (introducing the paper): It was about 18 months ago that we were asked by the Life Practice Executive Committee to consider whether we could attempt to assess what sort of market movements could be demonstrated to be consistent with a test described as being based on 1 in 200 year events in the context of the ICAS regime.I am not intending to summarise the paper or its conclusions but did want to make a few remarks about the timing of …
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