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Sept 2011 Q2

L

LastMile

Member
The question asks for information for inclusion in a quantitative reporting template on assets and liabilities and additional information if moving to a risk based SII capital assessment.

Firstly, not being a valuation actuary the details and depth of information required by the question did not come very naturally to me. Also, this level of detail is not given in the core reading either.

Anyone else had the same struggle??

Secondly, am I right in assuming that such question will be of less relevance since we have now moved to SII regime already?
Any variation of such questions covering various parts of the core reading that you'd expect to see given the current topics of discussion?

Thanks a lot for your help!
 
Obviously when this question was set some students would have been familiar with the 'old' reporting templates. But, this question could absolutely be set today, possibly framed as a country looking to introduce a regime similar to Solvency II.

There is some help in the question - it mentions market value of assets (what assets?), liabilities being valued using prudent assumptions (what assumptions, what margins), capital requirements calculated using a prescribed method (probably worth the information including some details of this) and a valuation report (consider what else someone would want to know about an insurer's business in interpret the report - last year's values, changes over the last year, valuation method etc).

I hope this helps. There may be tricky questions but keep a methodical approach and you should generate some sensible ideas that will score in the exam. If you can, talk to someone in the valuation team where you work and ask to see reports/forms and anything else they may be able to share. You never know what might be useful in the exam - and it makes a change to your normal revision :)

Good luck!
Sarah
 
Thanks a lot Sarah!

Totally agree that changes in daily study routine are always welcome and good way to broaden the knowledge!
 
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