Life Hot Topics: Life Insurance and Inflation

Fri 25 Mar 2022 -
10:00 - 11:00

During this session the speakers explore the following:

  • Why is inflation important for life insurers? What has happened recently to make insurers focus more on inflation risk than previously?
  • What is RPI reform? What are the main differences between RPI and CPIH and what does it all mean?
  • What are the potential implications for insurers? and what should insurers be considering?
  • Case Study: Describing the work to redevelop an insurer’s LPI models

Featured Speakers

Dan Diggins is the Head of Regulated Roles and Head of Europe within the Insurance & Financial Services practice of Hymans Robertson. Dan has almost 25 years of experience both in industry and as a consultant including deep and broad experience in market-risk, M&A, Insurance business transfers, restructuring etc. Dan holds practising certificates for Chief Actuary and With-Profits Actuary and has provided peer review services to a number of high-profile proposed restructuring projects. He is currently appointed as the Independent Actuary on a proposed business restructure.

Matthew is a Senior Consultant within the insurance and financial services practice at Hymans Robertson. He has 8 years of experience, with roles in industry and consulting. Since joining Hymans Robertson in 2019, he has worked on a variety of client assignments with a particular focus on managing and modelling market risks. He has worked across all types of life insurance products in line 1, line 2, and line 3 roles.

Matthew also leads Hymans Robertson’s industry-wide benchmarking surveys on the matching adjustment and LPI inflation risk. Both of these cover all 8 of the current UK BPA firms. He has also worked with several smaller UK-based insurers and has been seconded to a large overseas insurer.

Before joining Hymans Robertson, Matthew worked in the actuarial reporting team at Standard Life. He qualified as Fellow of the IFoA in 2020 and holds Chartered Enterprise Risk Actuary accreditation.

Hymans Robertson

Ross is an Associate Consultant and nearly qualified actuary from Hymans Robertson. He focuses on supporting life insurance clients risk, capital and regulation projects – which includes thinking about the implications of changing inflation on these three areas. Recently he has also spent a lot of his time helping life insurers to manage their with-profits business – from simplifying processes to directly supporting a With-Profits Actuary in their statutory role.

James is a qualified actuary working in the Assumptions and Capital Team of Pension Insurance Corporation as a Market Capital Actuary. James has specialised in designing, building and maintaining market risk SCR models. In the past 18 months James has focused on the redevelopment of PIC’s LPI models in response to the 2020 announcement of RPI Reform. James previously worked on the applications of Solvency II at the PRA and with the economic scenario generator team at Deloitte.