Changing internal models in a controlled environment

Capital models have advanced significantly since the early 2000s, but the increased complexity can slow decision-making and raise operational risks. This article explores when a model may no longer be fit for purpose, the role of off-the-shelf and external models, and how to transition safely using strong governance, clear analysis of change and external reviewers. Over the past two decades, technological advances have resulted in a drastic change in the modelling capabilities of insurers.

The actuarial profession stands at an inflection point

The past year has been a truly fascinating one for insurance actuarial professionals. Actuaries around the world have spent much of 2025 navigating complex and evolving regulatory frameworks, integrating artificial intelligence and machine learning into traditional work, developing climate risk expertise, and managing the gap between technical actuarial skills and the need for strategic business advisory capabilities.

30 years of Self-Assessment

Fewer than half (48%) of those who fill in a tax return have budgeted for their tax bill every year. Around a quarter (24%) of those who’ve filled in a tax return in the past say that the amount of tax they owe has been more than they expected. Worryingly, 1 in 20 (5%) of those who fill in a return normally use a bank overdraft to pay some or all of their self-assessment tax bill. This year marks 30 years since self-assessment was first introduced, but, three decades later, new research from Royal London shows more than half of those who fill in a tax return (54%) describe it as a ‘nuisance’.

Private markets and leadership

 

Lifestyle Actuary

Dalriada Trustees Limited (Dalriada), one of the largest providers of professional trustee services to pensions schemes in the UK, has today announced the appointment of Sarah Brough as a professional trustee.

Lights Camera Actuary

For the next few months Zoe Bolton will be talking to the senior actuaries in these firms, getting a brief insight into their career paths and visions for the future. This month Zoe interviews Shil Patel the UK Managing Director at Dynamo Analytics

Travelling Actuary

This month's Travelling Actuary takes us to the iconic Boston to experience New England at it’s very best.

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