Biographies
Paul Murray, FIA - Director
Paul read Mathematics at Oxford University, graduating in 1989. Following graduation, he carried out research in medical statistics at Sydney University, Australia, co-authoring the paper ‘Prognostic Value of Quality-of-Life scores during chemotherapy for advanced breast cancer’ (subsequently published in the Journal of Clinical Oncology (1992)). In addition to his research work, Paul tutored undergraduate courses in both probability and statistics at Macquarie University, Sydney, Australia. In 1990, he was also asked to speak at a statistics conference at Prince of Songkla University, Hat Yai, Thailand.
After his return to the UK in late 1990, Paul joined Bacon & Woodrow [B&W] (consulting actuaries) to work in their general insurance department. Having specialised there in reinsurance and in commercial lines business written by Lloyd's and the London Market, in 1994 Paul became Group Actuary for Kiln, one of the largest Lloyd's managing agencies (at the time, Kiln controlled 7 syndicates covering Non-Marine, Marine, Aviation, Motor and Life business). While there he became the first actuary to produce publicly reported annual accounting reserves (on a US GAAP basis) for Lloyd’s syndicates. He was also one of the founding members of the LUAA Actuarial Committee.
After leaving Kiln at the end of 1996, he joined EMB where he is a consultant to the London Market. He has 15 years general insurance actuarial experience. His main areas of expertise are:
· Schemes of Arrangement
· Lloyd’s of London and the London Market
· Asbestos, Pollution and Health Hazard Liabilities
· Legal Disputes Involving Reinsurers
· Reinsurance Commutations
· Reserving for Reinsurance and Commercial Lines Business
· Lloyd’s SAO Certification
· Due Diligence / Mergers & Acquisitions
· Sports Injury Insurance
In addition to his work for B&W, Kiln and EMB, Paul has spent time on secondment at Bankers Trust (to assist them in valuing potential insurance investments) and Lloyd’s of London (regarding reserving issues). He has been a member of the London Market Actuaries Group since 1994 and has held a Lloyd's practising certificate (available only to the most senior London market reserving actuaries) since 2001. In addition to his work in the UK, Paul has given talks for the Casualty Actuarial Society in the USA and for the Actuarial Society of India in Mumbai. He has been attending GIRO (the UK actuarial profession’s annual general insurance conference) since 1993 and has also attended many other insurance and reinsurance conferences in the UK, Europe, Bermuda and the USA.
In 2005, Paul’s research into injury rates for professional footballers was published in the national and insurance press as well as receiving coverage on Sky TV and BBC Radio. As well as being authorised to sign Lloyd’s SAOs in the UK, Paul is authorised by the Bermudian Monetary Authority as a Loss Reserve Specialist. In addition he is the Proposed Scheme Actuary for two planned Solvent Schemes of Arrangement and has acted as a vote adjudicator at Scheme Meetings.