We always look to deliver clear and pragmatic advice based on robust analysis commensurate with the end-purpose and the strengths and limitations of the available data.
For advice on best estimates of current mortality we combine the results of experience analysis with estimates derived from consideration of the socio-economic, geographic and lifestyle profiling of the specific portfolio, whilst also taking account of other relevant studies and wider populations.
We also have considerable knowledge and experience in analysing past mortality change and modelling future mortality improvements using formal mathematical models and more subjective approaches, informed by expert opinion.
Much of our work is project-based and we undertake assignments for insurance companies, reinsurance companies, investment banks, international governmental organisations and pension schemes.
Ongoing clients include the Continuous Mortality Investigation (CMI) and the Life and Longevity Markets Association (LLMA). The CMI has been a major client for over 20 years and our role includes data collection and analyses for the CMI life office and SAPS investigations and supporting the development of the CMI Mortality Projections Model.
We also act as a centre of excellence for actuarial teams in Barnett Waddingham, helping them to provide expert advice to their clients.
Stochastic models and Solvency II - we helped a major insurer to review existing stochastic longevity models and to select and adapt one model for use in calculating its capital requirements.
Question marks over our ability to predict the future provided two of the highlights of recent our annual pensions conference. Senior Partner Nick Salter explores...
For a recent survey, Barnett Waddingham gathered information on Solvency II capital requirements for longevity from eight internal model firms and we found significant variations in assumptions.
Our recently released report on the state of play in the bulk annuity market, Barnett Waddingham’s Bulk Annuity Annual Report 2016, examines the latest developments in the market.
The slowing of mortality improvements in the UK in recent years has been widely discussed. In this Spotlight we compare recent mortality in the UK to a large number of European countries.
As part of the 31 March 2016 valuation process, 15 of the English Funds participating in the Local Government Pension Scheme (LGPS) advised by Barnett Waddingham agreed to take part in a project to comprehensively review their mortality assumptions.
The CMI Model is calibrated to data for the general population but is typically applied to pensioner or annuitant portfolios. These have different mortality rates and may experience quite different mortality improvements.
Following the latest round of exam results from the Institute and Faculty of Actuaries (IFoA), we’re delighted to announce nine newly qualified actuaries.
Barnett Waddingham is delighted to have been named Actuarial/Pensions Consultancy of the Year at this year's Professional Pensions UK Pensions Awards.
Barnett Waddingham is delighted to have been named Third-Party Administrator at this year's Professional Pensions UK Pensions Awards.