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Life Offices After the Second World War: The Underwriting and Management of Financial Market Risk (1952–2004)

In: A History of British Actuarial Thought

Author

Listed:
  • Craig Turnbull

    (Actuary)

Abstract

The history of actuarial thought in the British life assurance sector over the second half of the twentieth century is tumultuous. This was increasingly the case as the century wore on, reaching something approaching a crisis by the century’s end, from which the profession started to reorientate itself in the early 2000s. The root causes of the late twentieth-century challenges initially emerged earlier in the century and have already been briefly noted. The most important of these was the increasing trend, started in the 1920s and 1930s, of abandoning the strictly risk-averse investment disciplines of nineteenth century Bailey in order to pursue greater investment in equities and other risky asset types.

Suggested Citation

  • Craig Turnbull, 2017. "Life Offices After the Second World War: The Underwriting and Management of Financial Market Risk (1952–2004)," Springer Books, in: A History of British Actuarial Thought, chapter 5, pages 187-231, Springer.
    • Handle: RePEc:spr:sprchp:978-3-319-33183-6_5
    DOI: 10.1007/978-3-319-33183-6_5
    as

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