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The Stewardship Code 2026 and what it means for signatories

The Financial Reporting Council (FRC) has published the 2026 Stewardship Code, which will be effective from 1 January 2026. This follows extensive industry engagement which sought to evolve the Code to be flexible enough to reflect different stakeholders, reduce the reporting burden on signatories and continue to support long-term value creation. The updated Code sets out the following revisions.
Posted on Monday Jun 9

Elevating retirement strategy globally

Effective retirement strategies play a key role in organizational success. WTW examines the latest insights and best practices for enhancing global retirement management (GRM). In today's global business landscape, managing financial risks and attracting and retaining top talent are critical for organizational success. Effective retirement strategies play a pivotal role in achieving these goals. This article explores key insights and best practices for enhancing global retirement management (GRM), drawing from the actual experiences of two leading organizations.
Posted on Friday Jun 6

Making your assets work harder in run on

With improved scheme funding levels and regulatory change to allow more flexibility in releasing surplus within defined benefit (DB) schemes expected, the prospect of running-on your DB scheme continues to be a hot topic in the pensions industry. The recent government response to consultation on options for DB schemes lays the groundwork for trustees and sponsors to work together to generate and release surplus in future. In this article, we share how DB schemes can tailor their investment strategy to support surplus generation and capitalise in a run-on period.
Posted on Thursday Jun 5

The Future of Insurance AI on autopilot

With a ground swell in use of AI in 2025, how each firm uses AI to gain competitive advantage is the question all firms are wrestling with. Use of AI to support business process needs to be considered more widely with consideration given to how you control, how you contain it and how you leverage value from it.
Posted on Wednesday Jun 4

New models and options in defined benefit pension schemes

For The Pension Regulator’s (TPR’s) whole existence we have worried about scheme deficits and a lack of longer-term planning. When a sponsoring employer of an underfunded pension scheme becomes insolvent, those members may go into the Pension Protection Fund (PPF). While the PPF can provide valuable compensation, the impact of this transfer can be material to members. Those members are often older people who have little or no chance to make up the shortfall in their expected retirement income.
Posted on Wednesday Jun 4

Property insurance existential risk from climate change

Amid the daily 8-5 grind in the Square Mile, it can be easy to forget how much insurance matters. Not just to individuals and businesses, but to entire communities, economies and countries. This is especially true in the face of climate change. The Los Angeles wildfires are just the latest prominent example of how the ability to recover from disasters depends on insurance, and how a lack of affordable property insurance will have long-lasting implications for individuals, businesses and economies.
Posted on Tuesday Jun 3

June 2025 Edition of the Actuarial Post Magazine

The Government has had a busy month from backtracking on the cancellation of winter fuel payments through to steadying their gaze on pension funds by looking at taxing salary sacrifice to mandating pension funds on investment, seemingly irrespective of members returns or interests. We wait to see how these reforms will affect the pensions industry. This month’s cover story comes from Scott St George from WTW looking at how climate change is pushing insurability to tipping point.
Posted on Monday Jun 2

AI and the impacts on professional indemnity insurance

In today’s fast-changing world, artificial intelligence (AI) has become a key tool in improving work efficiency. It helps professionals complete tasks faster and more efficiently. AI has significantly reduced the need for manual labour and minimised delays across various sectors. The growth of narrow AI and Generative AI has revolutionised how we interact with content, enabling the rapid generation and retrieval of information in mere seconds, thus optimising workflows and expanding productivity.
Posted on Friday May 30

The IFoA Chartered Actuary series Part One

In November last year, the Institute and Faculty of Actuaries introduced chartered status for qualified members, becoming the first professional actuarial body to do so. It was an innovation intended to help members better communicate the training and expertise needed to qualify as an actuary, and the professional standards they are expected to reach and maintain. It was also intended to emphasise the value of the actuarial profession to a wider audience, positioning it alongside its counterparts in insurance, surveying, engineering and accountancy.
Posted on Thursday May 29

What you need to know regarding auto re-enrolment

Auto re-enrolment occurs every three years. It requires employers to re-enrol eligible employees who have previously left/opted out of the workplace pension scheme or reduced their contributions below the minimum requirements. Re-enrolment is an essential part of workplace pension schemes, ensuring that employees continue to save for their retirement. 2025 is a re-enrolment year for many mid-sized to large employers. Here is a guide to help you navigate the re-enrolment process seamlessly and meet your legal duties.
Posted on Wednesday May 28

Suddenly IG is not where I want to be

Even with the rise of AI, investors are still (largely) human. That has both advantages and disadvantages - we all know we have behavioural issues and structural biases (anchoring, loss aversion, etc). But because these are well-researched, there are good mitigants. A key one is how reframing a question can lead us to interpret different answers. For example, suppose you ran a DB scheme, and I presented a new, exciting asset class to you and recommended you invest.
Posted on Tuesday May 27

How Risk Managers can drive more value from data

Risk managers looking to drive better value and efficiency today need to know how to use data. Because it’s only through accurate, comprehensive and interpretable data that you can make more informed decisions that allocate resources more efficiently, enabling risk management to have greater impact on organizational success. But how exactly can you improve data quality and use advanced analytics and artificial intelligence (AI) to reduce risk and increase value, particularly if your organization has a sub-optimal approach to gathering and maintaining data?
Posted on Friday May 23

Building Footprints a key tool in Flood Risk Assessment

Flooding is becoming an increasingly severe threat across the UK and Ireland, driven in large part by the impacts of climate change. Winters are getting wetter, summers are becoming drier and hotter, and the extreme floods we see today could be a precursor to what lies ahead. As these risks intensify, insurance providers must adopt more precise flood assessment methods—starting with building footprints as a fundamental element in property risk evaluation.
Posted on Thursday May 22

The role of technology in board effectiveness

Board effectiveness has become a defining factor in organisational success, transcending traditional ideas of governance and becoming a strategic must-have. In today’s environment, marked by regulatory scrutiny, evolving stakeholder expectations, and increasingly complex operating conditions, the boardroom plays a critical role in shaping the long-term trajectory of an organisation. Whether in corporate, charitable, or sporting institutions, boards are being called upon to demonstrate real value, foster accountability, and drive sustained performance.
Posted on Wednesday May 21

Artificial intelligence and pensions: Cyber risk

This is the third in a series that takes a deeper look at areas relevant to U.K. pension schemes and how artificial intelligence (AI) may have a significant influence or impact. Cyber risk is an increasingly important issue in the pensions sector, and its significance is only expected to grow. Earlier this year, a cyber breach pushed Australian superannuation schemes into the spotlight; five pension providers were hit with a series of cyber-attacks, with members of one fund collectively losing $500,000 in retirement savings.
Posted on Tuesday May 20

The four dimensions of reserving uncertainty

This article presents a framework that I have found helpful in working with general insurance firms to better manage their reserving risks. The four dimensions are. The ultimate view of reserving risk. The one-year view of reserving risk. The range of reasonable best estimate reserves. The contribution of claims handling to reserving risk. In this article I will cover the first three dimensions and next time we’ll do a deep dive of the fourth dimension, which is typically the least well understood.
Posted on Monday May 19

Strategies for defined contribution pension arrangements

Three areas of focus that companies can build into their strategy to help their defined contribution arrangements stand up to adverse conditions. Turbulent economic conditions and how employees respond to them can create sustained financial vulnerabilities for organizations with defined contribution (DC) retirement plans. Professional management of pensions can help employers overcome these challenges, supporting effective workforce planning and protecting the value of the investment they are making in their people through plan contributions.
Posted on Friday May 16

Assessing the benefits of run on

On this panel, Ian Mills, Partner and Head of DB Endgame Strategy at Barnett Waddingham, and the other experts discuss: how run-on strategies could work in practice; key considerations for trustees and sponsors; the potential ways in which sponsors could extract the surplus; the benefits and drawbacks of such strategies compared to insurance-based solutions such as buy-in and buyout; legal and regulatory hurdles to a run-on approach; and investment strategies schemes adopting a run-on could utilise.
Posted on Thursday May 15

What we can learn from wave of UK cyber attacks

Recent high profile cyber attacks affecting UK organisations serve as a stark reminder that no business is immune from disruption. While having strong governance and regular risk reviews is essential, the reality of managing a live cyber incident is rarely as straightforward as the plans on paper. From communication challenges to operational pressures, incidents like these test organisations at every level.
Posted on Thursday May 15

FCA strips back insurance rulebook

The UK’s world leading insurance market could benefit from simpler, more straightforward rules, under proposals published by the Financial Conduct Authority (FCA). The regulator plans to strip outdated or duplicated requirements from its insurance rulebook, having asked what improvements it could make. The changes could support lower costs and wider access for the businesses and consumers who rely on insurance to manage risk, while maintaining appropriate levels of protection.
Posted on Wednesday May 14

How behavioural bias is impacting retirement outcomes

Recent updates from the Pensions Regulator (TPR) and the Financial Conduct Authority (FCA) have pointed to a need for all industry stakeholders examine how they approach decision making and value judgements, to improve outcomes for pension savers. The FCA has identified the industry’s relationship with risk; “Now is the time to look again at our collective attitude to risk. Too often the focus has been on the risks of a decision taken rather than the lost opportunity of taking none” said Ashley Alder, Chair of the Financial Services Authority (FCA) in the FCA’s 5-year strategy paper.
Posted on Tuesday May 13

Bridging the gap between risk and insurance

This article explores the impact of economic pressure on insurance buying strategies and how to achieve cost savings without compromising risk coverage. Economic pressure: A catalyst for change. In times of economic uncertainty and rising costs, many organisations face significant financial pressure to minimise or reduce expenditure to maintain profitability. However, when it comes to insurance—which safeguards against various risks—how can organisations make informed decisions regarding their spending?
Posted on Monday May 12

The true costs of LAs devastating wildfires

Martin Bühler, Swiss Re’s Head of Large Loss, discusses the 2025 Los Angeles wildfires — examining why they spread so quickly and caused such widespread destruction. From prolonged drought conditions to urban expansion and shifting wind patterns, we explore the key factors that turned a wildfire into a major disaster. His analysis also looks ahead: What can be done to reduce the risk of future wildfires? How can insurers, policymakers, and communities work together to build greater resilience? With insights grounded in real-world data and claims experience, Bühler sheds light on the growing challenges — and opportunities — in managing wildfire risk.
Posted on Friday May 9

Reimagining the Actuary

When I first became an actuary, the tools of the trade were relatively simple, and almost exclusively Excel. I think those outside of the actuarial profession don't really understand the true depths of Excel, both the good and the bad. Like many other actuaries, the first few years of my career were spent pushing Excel and VBA to its limits to create tools that would have made Bill Gates proud. Beyond Excel, my own journey into becoming much more technical wasn’t particularly deliberate.
Posted on Friday May 9

Owning your physical assets and their emissions

Many institutional asset owners have set targets to reduce the emissions associated with their investment portfolios. So far, much of the focus has been on reducing emissions from listed holdings such as equities and bonds. In this blog, we argue that asset owners would be well placed to address physical assets now for added upside benefits. Why focus on carbon emissions? Climate change is a systemic risk that impacts all asset owners. Greenhouse gas emissions are a useful metric to proxy an investment portfolio's exposure to climate risk.
Posted on Thursday May 8