volume 5, issue 4, P699-761 1999
DOI: 10.1017/s1357321700000647
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C.J. Hairs, M. Arnold, A.J. Gustar, D.J.P. Hare, P.D. Needleman, P.J. Tuley, J.M. Webber

Abstract: Closure of the fund to new business is a strategic option that is not usually considered as a part of the day-to-day running of a life assurance company. The paper explores certain circumstances in which it can be appropriate to consider it, though in the Working Party's view consideration of the closed fund alternative normally arises as a matter of course only in the context of demutualisations, and then as an indicator of the potential value of membership rights.The topic is discussed in terms of legal, re…

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