Biographies
Peter England, BSc, PhD, CStat - Director
Peter graduated from City University with a BSc and PhD in Actuarial Science. After completing his PhD, entitled “Statistical Modelling of Excess Mortality of Medically Impaired Insured Lives”, Peter worked as a medical statistician at the London School of Hygiene and Tropical Medicine, conducting research into risk factors associated with Sudden Infant Death Syndrome (SIDS/Cot Death) and lecturing to post-graduate students in Medical Statistics.
Peter then returned to actuarial work, within the Group Non-Life Technical Department at Commercial Union (now Aviva), supporting the Executive Directors in worldwide reserve monitoring, business plan monitoring, and outwards catastrophe reinsurance modelling, amongst other activities.
Peter then moved to Lloyd’s as “Manager, Capital Modelling” in the Market Risk Unit, where he was jointly responsible for the Risk Based Capital system used for setting member capital requirements at Lloyd's.
After working at Lloyd's, Peter joined EMB in November 1999, specialising in research and statistical modelling, particularly financial risk modelling using simulation techniques. His main areas of work are:
• Risk based capital modelling
• Reserve variability methodologies
• Liability model parameterisation, including parameter uncertainty
• Catastrophe risk aggregation and reinsurance modelling
• Asbestos liability modelling
• Pricing using simulation techniques
• Generalised linear and non-linear modelling techniques
Peter is also involved in the development of EMB software, staff and client training, and is a regular speaker at seminars.
He is a Chartered Statistician, a Senior Visiting Fellow at the Cass Business School, London, and is the author (or co-author) of numerous papers, including the prize-winning Institute of Actuaries paper "Stochastic Claims Reserving in General Insurance".
Papers Published
Peter England has written a number of industry leading papers on the subjects of bootstrapping and stochastic claims reserving. These include:
• England, PD and Verrall, RJ (2006). Predictive distributions of outstanding claims in general insurance, Annals of Actuarial Science, 1, II
• Verrall, RJ and England, PD (2005). Incorporating expert opinion into a stochastic model for the chain-ladder technique. Insurance: Mathematics and Economics, 37
• England, PD and Verrall, RJ (2002). Stochastic Claims Reserving in General Insurance (with discussion), British Actuarial Journal 8, III
- This won an Institute of Actuaries (UK) prize
- This was recently translated into Japanese
• England, P (2002). Addendum to “Analytic and bootstrap estimates of prediction errors in claims reserving”, Insurance: Mathematics and Economics 31
• England, PD and Verrall, RJ (2001). A Flexible Framework for Stochastic Claims Reserving. Proceedings of the Casualty Actuarial Society, LXXXVIII, I
• Verrall, RJ and England, PD (2000). Comments on: "A comparison of stochastic models that reproduce chain-ladder reserve estimates", by Mack and Venter. Insurance: Mathematics And Economics, 26
• England, P and Verrall, R (1999). Analytic and bootstrap estimates of prediction errors in claims reserving, Insurance: Mathematics and Economics 25