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Unit pricing and provision for tax on capital gains in linked assurance business

Published online by Cambridge University Press:  20 April 2012

R. J. Laker  and
R. J. Squires
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Extract

1.1. For a number of years now it has been a commonplace amongst actuaries actively involved in unit-linked business that it was time someone wrote a paper dealing adequately with the subject of unit pricing. To those not actively involved with the subject the absence of such a paper may seem unimportant, but the fact is that the price-making process is central to the whole conduct of linked life business. It exerts a major influence upon the profitability and solvency of the office, and upon the relative interests of different classes and generations of policyholders and shareholders. In this respect, it is analogous to the bonus policy of a with profits office.

Type
Research Article
Information
Journal of the Institute of Actuaries , Volume 112 , Issue 2 , September 1985 , pp. 117 - 161
Copyright
Copyright © Institute and Faculty of Actuaries 1985

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References

(1) Grant, A. T. & Kingsnorth, G. A. Unit trusts and equity-linked endowment assurances, T.F.A. 30, 17.Google Scholar
(2) Seymour, P. A. C. Unit linked assurances and capital gains tax. Delivered to Students Society. March 1971.Google Scholar
(3) Parry, T. W. Unit pricing. J.S.S. 26, 131.Google Scholar
(4) Parry, T. W. & O'Keefe, P. J. L. Unit pricing for internal funds—a UK perspective. T.I.C.A., 5, 43 (Sydney, 1984).Google Scholar