The Institute of Actuaries’ “Review Team” has launched an Equity Release Mortgages thematic review, “which will consider the work carried out by actuaries in this area – in particular their role in propositions and pricing activity. The market for equity release mortgages continues to grow, and actuaries have an important role to play in this broad and complex area.”
The review includes a questionnnaire for lenders and a questionnaire for consultants. (Academic researchers apparently are not included).
The questionnaires are focused on the governance of ERM work. Example: “In addition to providing documentation, please describe what examples of documentation are subject to APS and/or TAS assessment (in either valuation/capital functions or propositions/pricing functions) at your organisation.”
Which reminds me, if the TAS (Technical and Actuarial Standards) were any use at all, they would have picked up the massively incorrect valuation method used by most (if not all) firms. This suggests they are not any use at all.
Just saying.