Irish Actuarial Data

  • W . A . HONOHAN
  • Published 2007

Abstract

Actuarial science is mainly concerned with the estimation of future contingencies, particularly from the monetary point of view, and in this it utilises past experiences of the forces involved. These may find expression in the rates of mortality, rates of sickness, probabilities of marriage and of issue, trends of age-distributions, proportions married, sizes of families, relative ages of husbands and wives, rates of promotion in business, rates of secession and so on. Not every problem can of itself, however, throw up a sufficient volume of material to enable all the necessary factors to be calculated, so that it is desirable, if possible, to make available from time to time certain standard data, which could be used, at least as a guide, in the solution of such problems. It is instructive to compare the position in regard to data in this country with that obtaining in Great Britain, our nearest neighbour. It has been the practice of British life assurance companies to mako available at intervals the mortality experience under their assurance and annuity contracts, and in recent years they have, in fact, been publishing it more or less continuously. From this material numerous tables of monetary functions have been derived and are used extensively in the valuation of the companies' contracts and in all kinds of problems. There is, on the other hand, no published experience of Irish assurance companies. In Great Britain, too, the sickness experiences of some of the larger friendly societies and of selected approved societies under the National Health Insurance Scheme have been published, whereas, so far as I am aware, there has been in this country only one sickness investigation about which information is available (although not published), namely, that of the National Health Insurance Society during the years 1935 to 1938. I refer to this investigation later. The experiences of certain pensioners and life tenants and of a number of private pension and widows' and orphans' funds in Great Britain have also been published, not to speak of the Government Actuary's Reports on the valuations of the National Health Insurance Societies and on the Widows', Orphans' and Old Age Pensions Scheme. Finally, there are the national statistics arising from the censuses. In Great Britain, the Government Actuary's Department makes a report on each census, presenting Life Tables for England, London and for certain groups of counties. These tables have been used extensively for valuing …

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Cite this paper

@inproceedings{HONOHAN2007IrishAD, title={Irish Actuarial Data}, author={W . A . HONOHAN}, year={2007} }