volume 10, issue 2, P223-293 2004
DOI: 10.1017/s1357321700002816
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D. J. P. Hare, G. Craske, J. R. Crispin, A. J. Desai, D. W. Dullaway, M. A. Earnshaw, R. Frankland, G. A. Jordan, M. G. Kerr, G. M. Manley, J. L. McKenzie, R. A. Rae, M. C. Saker

Abstract: ABSTRACTThis paper was written at the request of the Life Research Committee of the United Kingdom Actuarial Profession's Life Board. It concerns the valuation of U.K. with-profits business, with particular attention to the market-consistent ‘realistic reporting’ basis currently being used in the U.K. by the regulator, the Financial Services Authority (FSA). The paper surveys recent regulatory activity concerning the development and introduction of the new valuation approach, and puts it into the context of a …

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