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Frank Redington
Frank Mitchell Redington (10 May 1906 – 23 May 1984) was a noted United Kingdom, British actuary. Frank Redington was best known for his development of Immunization (finance), Immunisation Theory which specifies how a fixed income portfolio can be "immunised" against changing interest rates. Redington's work indirectly led to the development of Liability Driven Investment (LDI) techniques for corporate pension funds. Interest rate SWAPS and bond investment when combined with the use of inflation protection measures (e.g. Index Linked Gilts, SWAPS and similar derivative contracts), can help protect pension funds from funding volatility. This was first adopted by a major pension fund in the UK in 1999/2000 when Boots the Chemists moved to virtually a 100% Government and corporate bond investment strategy, partly advised by its Corporate Finance Director, John Ralfe. This proved extremely well timed given the stock market crash of 2001 and up to a third of large pension schemes hav ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United Kingdom
The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain, is a country in Europe, off the north-western coast of the continental mainland. It comprises England, Scotland, Wales and Northern Ireland. The United Kingdom includes the island of Great Britain, the north-eastern part of the island of Ireland, and many smaller islands within the British Isles. Northern Ireland shares a land border with the Republic of Ireland; otherwise, the United Kingdom is surrounded by the Atlantic Ocean, the North Sea, the English Channel, the Celtic Sea and the Irish Sea. The total area of the United Kingdom is , with an estimated 2020 population of more than 67 million people. The United Kingdom has evolved from a series of annexations, unions and separations of constituent countries over several hundred years. The Treaty of Union between the Kingdom of England (which included Wales, annexed in 1542) and the Kingdom of Scotland in 170 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Leeds
Leeds () is a city and the administrative centre of the City of Leeds district in West Yorkshire, England. It is built around the River Aire and is in the eastern foothills of the Pennines. It is also the third-largest settlement (by population) in England, after London and Birmingham. The city was a small manorial borough in the 13th century and a market town in the 16th century. It expanded by becoming a major production centre, including of carbonated water where it was invented in the 1760s, and trading centre (mainly with wool) for the 17th and 18th centuries. It was a major mill town during the Industrial Revolution. It was also known for its flax industry, iron foundries, engineering and printing, as well as shopping, with several surviving Victorian era arcades, such as Kirkgate Market. City status was awarded in 1893, a populous urban centre formed in the following century which absorbed surrounding villages and overtook the nearby York population. It is locate ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1906 Births
Events January–February * January 12 – Persian Constitutional Revolution: A nationalistic coalition of merchants, religious leaders and intellectuals in Persia forces the shah Mozaffar ad-Din Shah Qajar to grant a constitution, and establish a national assembly, the Majlis. * January 16–April 7 – The Algeciras Conference convenes, to resolve the First Moroccan Crisis between France and Germany. * January 22 – The strikes a reef off Vancouver Island, Canada, killing over 100 (officially 136) in the ensuing disaster. * January 31 – The Ecuador–Colombia earthquake (8.8 on the Moment magnitude scale), and associated tsunami, cause at least 500 deaths. * February 7 – is launched, sparking a naval race between Britain and Germany. * February 11 ** Pope Pius X publishes the encyclical ''Vehementer Nos'', denouncing the 1905 French law on the Separation of the Churches and the State. ** Two British members of a poll tax collecting ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
British Actuaries
British may refer to: Peoples, culture, and language * British people, nationals or natives of the United Kingdom, British Overseas Territories, and Crown Dependencies. ** Britishness, the British identity and common culture * British English, the English language as spoken and written in the United Kingdom or, more broadly, throughout the British Isles * Celtic Britons, an ancient ethno-linguistic group * Brittonic languages, a branch of the Insular Celtic language family (formerly called British) ** Common Brittonic, an ancient language Other uses *''Brit(ish)'', a 2018 memoir by Afua Hirsch *People or things associated with: ** Great Britain, an island ** United Kingdom, a sovereign state ** Kingdom of Great Britain (1707–1800) ** United Kingdom of Great Britain and Ireland (1801–1922) See also * Terminology of the British Isles * Alternative names for the British * English (other) * Britannic (other) * British Isles * Brit (other) * B ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Institute Of Actuaries
The Institute of Actuaries was one of the two professional bodies which represented actuaries in the United Kingdom. The institute was based in England, while the other body, the Faculty of Actuaries, was based in Scotland. While the Institute and Faculty of Actuaries were separate institutions, they worked very closely together, and their professional qualifications and actuarial standards were identical. On 25 May 2010, voting members of the institute who took part in a ballot voted to merge the institute with the faculty, thus creating the Institute and Faculty of Actuaries, which came into being on 1 August 2010. The Institute of Actuaries ceased to exist on that date. Establishment of the Institute of Actuaries The actuaries of a number of life assurance companies established the Institute of Actuaries in London on the 8th of July 1848. The Institute of Actuaries was the oldest actuarial professional body in the world. In July 1884, the Institute of Actuaries was granted a ro ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Life Insurance
Life insurance (or life assurance, especially in the Commonwealth of Nations) is a contract between an insurance policy holder and an insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money upon the death of an insured person (often the policyholder). Depending on the contract, other events such as terminal illness or critical illness can also trigger payment. The policyholder typically pays a premium, either regularly or as one lump sum. The benefits may include other expenses, such as funeral expenses. Life policies are legal contracts and the terms of each contract describe the limitations of the insured events. Often, specific exclusions written into the contract limit the liability of the insurer; common examples include claims relating to suicide, fraud, war, riot, and civil commotion. Difficulties may arise where an event is not clearly defined, for example, the insured knowingly incurred a risk by consenting to an experimental m ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Prudential Plc
Prudential plc is a British Multinational corporation, multinational insurance company headquartered in London, England. It was founded in London in May 1848 to provide loans to professional and working people. Prudential has dual primary listings on the London Stock Exchange and Hong Kong Stock Exchange, and is a constituent of the FTSE 100 Index. It also has secondary listings on the New York Stock Exchange and Singapore Exchange. History Early history The company was founded in Hatton Garden in London in May 1848 as The Prudential, Investment, Loan, and Assurance Association and in September 1848 changed its name to The Prudential Mutual Assurance, Investment, and Loan Association, to provide loans to professional and working people. In 1854, the company began selling the relatively new concept of Industrial Branch insurance policies to the working class population for premiums as low as one penny a week through agents acting as door to door salesman, door to door salesmen. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cambridge University
, mottoeng = Literal: From here, light and sacred draughts. Non literal: From this place, we gain enlightenment and precious knowledge. , established = , other_name = The Chancellor, Masters and Scholars of the University of Cambridge , type = Public research university , endowment = £7.121 billion (including colleges) , budget = £2.308 billion (excluding colleges) , chancellor = The Lord Sainsbury of Turville , vice_chancellor = Anthony Freeling , students = 24,450 (2020) , undergrad = 12,850 (2020) , postgrad = 11,600 (2020) , city = Cambridge , country = England , campus_type = , sporting_affiliations = The Sporting Blue , colours = Cambridge Blue , website = , logo = University of Cambridge logo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Liverpool Institute For Boys
The Liverpool Institute High School for Boys was an all-boys grammar school in the English port city of Liverpool. The school had its origins in 1825 but occupied different premises while the money was found to build a dedicated building on Mount Street. The institute was first known as the Liverpool Mechanics' School of Arts. In 1832 the name was shortened to the Liverpool Mechanics' Institution. The façade of the listed building, the entrance hall and modified school hall remain after substantial internal reconstruction was completed in the early 1990s. School history in brief Its initial primary purpose as a mechanics' institute (one of many established about this time throughout the country) was to provide educational opportunities, mainly through evening classes, for working men. Lectures for the general public were also provided of wide interest covering topics ranging from Arctic exploration to Shakespeare and philosophy. Luminaries like Charles Dickens, Anthony Trol ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gilts
Gilt-edged securities are bonds issued by the UK Government. The term is of British origin, and then referred to the debt securities issued by the Bank of England on behalf of His Majesty's Treasury, whose paper certificates had a gilt (or gilded) edge. Hence, they are known as gilt-edged securities, or gilts for short. In 2002, the data collected by the British Office for National Statistics revealed that about two-thirds of all UK gilts are held by insurance companies and pension funds. Since 2009 large quantities of gilts have been created and repurchased by the Bank of England under its policy of quantitative easing, and in recent years overseas investors have also been attracted to gilts by their "safe haven" status. Nomenclature In his 2019 book about the gilt market from 1928 to 1972, William A. Allen described gilt-edged securities as "long‐duration liabilities of the UK government" that were traded on the London Stock Exchange Today, the term "gilt-edged security" ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Actuary
An actuary is a business professional who deals with the measurement and management of risk and uncertainty. The name of the corresponding field is actuarial science. These risks can affect both sides of the balance sheet and require asset management, liability management, and valuation skills. Actuaries provide assessments of financial security systems, with a focus on their complexity, their mathematics, and their mechanisms. While the concept of insurance dates to antiquity, the concepts needed to scientifically measure and mitigate risks have their origins in the 17th century studies of probability and annuities. Actuaries of the 21st century require analytical skills, business knowledge, and an understanding of human behavior and information systems to design and manage programs that control risk. The actual steps needed to become an actuary are usually country-specific; however, almost all processes share a rigorous schooling or examination structure and take many years ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Imperial Tobacco
Imperial Brands plc (formerly Imperial Tobacco Group plc), is a British multinational tobacco company headquartered in Bristol, England. It is the world's fourth-largest international cigarette company measured by market share after Philip Morris International, British American Tobacco, and Japan Tobacco, and the world's largest producer of fine-cut tobacco and tobacco papers. Imperial Brands produces over 320 billion cigarettes per year, has 51 factories worldwide, and its products are sold in over 160 countries. Its brands include Davidoff, West, Gauloises Blondes, Montecristo, Golden Virginia (the world's best-selling hand rolling tobacco), Drum (the world's second-largest-selling fine-cut tobacco), and Rizla (the world's best-selling rolling paper). Imperial Brands is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index. It had a market capitalization around £18.5 billion as of 4 June 2019, the 28th-largest of any company with a pri ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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