Home > News > 2004 > February 2004 > Barnett Waddingham Duo Win Institute of Actuaries Prize
Barnett Waddingham Duo Win Institute of Actuaries Prize
Barnett Waddingham are proud to announce that the Institute of Actuaries' Council has awarded a CMI working party on which Tony Leandro and Rajeev Shah of our London office were part, a prize for their paper "Mortality Improvements and the Cohort Effect".
The paper demonstrated clear evidence of "cohort effects" in past mortality improvements among the UK insured population, including pensioners. In other words rates of improvement in mortality at different ages have been significantly different for lives born into different generations.
The working party also produced a revised projection of anticipated future mortality improvements, taking into account the improvements in pensioner mortality observed since the last survey of base data (in the early 1990s) and the latest views about future rates and patterns of mortality improvement.
The Council said that the paper was "of immediate practical use, would have enduring relevance and that it was the biggest thing to happen to mortality for a long time". The paper was presented to the Birmingham Life Convention in November 2002.
The fact that this work is of such importance to the industry at large while also having implications on a much wider stage - for the economy and social planning for example - makes the working party's achievement particularly noteworthy. All of their colleagues at Barnett Waddingham applaud Tony and Rajeev's success as part of that working party.
Barnett Waddingham, February 2004.