ÌÒ×ÓÊÓÆµ

Resources for SA3

These materials are optional or suggested additional reading for IFoA exam subject SA3 that may complement IFoA Core Reading and tuition provider material for this exam subject.

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Title links lead to book details on the IFoA Library catalogue. From there, IFoA members and students can 'Request' the book from the IFoA Library Service, subject to availability. Members can also follow the ‘Access eBook’ links below after logging in through the member portal. Access articles after member login to the IFoA eLibrary using the Actuarial Knowledge Hub and following DOI links shown below.

SA3 core reading for the current year is the key study reference for this exam and is available from the .

Students may also work with the study guide and course materials for this exam from the .

Suggested additional reading for Subject SA3 General Insurance Advanced

Students may find it useful to consult some of the suggested reading listed within the 'Solving Problems' section of the SA3 Core Reading to obtain a wider appreciation or different viewpoint when studying a particular topic.

However, students are not expected to have read all of the items on the list or to have gained detailed knowledge of any particular topic additional to that contained in the core reading. Equally, students may use other sources of information to enhance their wider understanding, such as:

  • The financial press and weekend supplements
  • bulletins and other publications from reinsurers and consultancies
  • Publications and websites of reinsurers and actuarial consultancies
  • Papers from the ÌÒ×ÓÊÓÆµ and the 
  • Future IFoA events and webinars found on the IFoA event calendar
  • Past general insurance-related presentations made at IFoA events, including session and webinar recordings, which can be found on the
  • GI-related presentations made at conferences that sit within other practice areas (e.g. Sustainability).

Actuarial Standards

The ÌÒ×ÓÊÓÆµ is responsible for the setting of ethical actuarial standards. The Financial Reporting Council (FRC) is responsible for the setting of technical actuarial standards.

Articles 

  • A change agenda for reserving. Report of the General Insurance Reserving Issues Taskforce (GRIT). Jones, T.; Copeman, P.J; Gibson, E.R, et al. British Actuarial Journal (2006) 12(3): 435-619. (DOI 
  • Distribution-free calculation of the standard effort of chain ladder reserve estimates. Mack, T.ASTIN Bulletin (1993) 23(2): 213-225. DOI
  • Economic scenario generators and Solvency II; a discussion paper. Varnell, E.M. British Actuarial Journal (2011) 16(1): 121-159. DOI 
  • Loss reserves in the London Market. Maher, G. P. M. British Actuarial Journal (1995) 1(4): 689-760. DOI:
  • Reserving and uncertainty. A meta-study of the General Insurance Reserving Issues Task Force and Reserving Oversight Committee research in this area between 2004 and 2009. Gibson, E.R. et alBritish Actuarial Journal (2011) 16(1): 63-80.
    DOI
  • Solvency II Technical Provisions for General InsurersDreksler, Susan. (chair) et al. General Insurance Reserving Oversight Committee’s Working Party. Paper presented to ÌÒ×ÓÊÓÆµ, 2013. (Paper awarded Brian Hey Prize.)
  • Stochastic claims reserving in general insurance.England, P.; Verrall, R.J. British Actuarial Journal (2002) 8(3): 443-544. DOI

 

Other monographs including guidance

Reference sources (references for SA3 Core Reading)

  • Actuarial Association of Europe – 
  • European Union. . 2009/138/EC (the 'Solvency II' Directive).
  • Financial Conduct Authority – 
  • Financial Conduct Authority –  (ICOBS)
  • ÌÒ×ÓÊÓÆµ – Practising Certificates
  • Prudential Regulation Authority – 
  •  : Letters to Chief Actuaries and Chief Risk Officers, including more recently:
    o , PRA, 13 November 2020.
    o , PRA, 5 November 2019.
    Use PRA page  to select 'Insurance', 'Insurance policy' and 'Letter' to find letters related to the Actuarial Function and to General Insurance firms.

Books (also respectively referenced in IFoA Core Reading for subjects SP7 and SP8; these are not examinable).

  • . Hindley, D.J. Cambridge University Press, 2017. ISBN 9781139924696.
    Access after member login
    • Open source ‘R’ code relating to the Appendix: 
    • Please read Notice and disclaimer about use of this material intended solely as a learning aid.
       
  • . Parodi, P. 2nd edition. Chapman & Hall/CRC Press, 202023. ISBN: 9781000860832.
    Access after member login
    • Library also offers earlier , 2014. Access after member login 
    • The author also releases accompanying material for the book: