bluuebunny/crossref_metadata_2025 huggingface dataset:
Malformations of Cortical Development: From Postnatal to Fetal Imaging
Authors: Lerman-Sagie Tally , Leibovitz Zvi
Published: August 2016

Abnormal fetal corticogenesis results in malformations of cortical development (MCD). Abnormal cell proliferation leads to microcephaly or megalencephaly, incomplete neuronal migration results in heterotopia and lissencephaly, neuronal overmigration manifests as cobblestone malformations, and anomalous postmigrational cortical organization is responsible for polymicrogyria and focal cortical dysplasias. MCD comprises various congenital brain disorders, caused by different genetic, infectious, or vascular etiologies and is associated with significant neurological morbidity. Although MCD are rarely diagnosed prenatally, both dedicated multiplanar neurosonography and magnetic resonance imaging enable good demonstration of fetal cortical development. The imaging signs of fetal MCD are: delayed or absent cerebral sulcation; premature abnormal sulci; thin and irregular hemispheric parenchyma; wide abnormal overdeveloped gyri; wide opening of isolated sulci; nodular bulging into the lateral ventricles; cortical clefts; intraparenchymal echogenic nodules; and cortical thickening. The postnatal and prenatal imaging features of four main malformations of cortical development—lissencephaly, cobblestone malformations, periventricular nodular heterotopia, and polymicrogyria—are described.
Physics and applications with laser-induced relativistic shock waves
Authors: Eliezer S. , Martinez-Val J. M. , Henis Z. , Nissim N. , Pinhasi S. V. , Ravid A. , Werdiger M. , Raicher E.
Published: August 2016

The laser-induced relativistic shock waves are described. The shock waves can be created directly by a high irradiance laser or indirectly by a laser acceleration of a foil that collides with a second static foil. A special case of interest is the creation of laser-induced fusion where the created alpha particles create a detonation wave. A novel application is suggested with the shock wave or the detonation wave to ignite a pre-compressed target. In particular, the deuterium–tritium fusion is considered. It is suggested that the collision of two laser accelerated foils might serve as a novel relativistic accelerator for bulk material collisions.
Whole-grain food consumption in Singaporean children aged 6–12 years
Authors: Neo Jia En , Binte Mohamed Salleh Saihah , Toh Yun Xuan , How Kesslyn Yan Ling , Tee Mervin , Mann Kay , Hopkins Sinead , Thielecke Frank , Seal Chris J. , Brownlee Iain A.
Published: August 2016

Public health bodies in many countries are attempting to increase population-wide habitual consumption of whole grains. Limited data on dietary habits exist in Singaporean children. The present study therefore aimed to assess whole grain consumption patterns in Singaporean children and compare these with dietary intake, physical activity and health parameters. Dietary intake (assessed by duplicate, multipass, 24-h food recalls), physical activity (by questionnaire) and anthropometric measurements were collected from a cross-section of 561 Singaporean children aged 6–12 years. Intake of whole grains was evaluated using estimates of portion size and international food composition data. Only 38·3 % of participants reported consuming whole grains during the dietary data collection days. Median intake of whole grains in consumers was 15·3 (interquartile range 5·4–34·8) g/d. The most commonly consumed whole-grain food groups were rice (29·5 %), wholemeal bread (28·9 %) and ready-to-eat breakfast cereals (18·8 %). A significantly lower proportion of Malay children (seven out of fifty-eight; P < 0·0001) consumed whole grains than children of other ethnicities. Only 6 % of all children consumed the amount of whole grains most commonly associated with improved health outcomes (48 g/d). There was no relationship between whole grain consumption patterns and BMI, waist circumference or physical activity but higher whole grain intake was associated with increased fruit, vegetable and dairy product consumption (P < 0·001). These findings demonstrate that consumption of whole grain foods is low at a population level and infrequent in Singaporean children. Future drives to increase whole-grain food consumption in this population are likely to require input from multiple stakeholders.
Scanning electron microscope examination of the dental enameloid of the Cretaceous durophagous sharkPtychodussupports neoselachian classification
Authors: Hoffman Brian L. , Hageman Scott A. , Claycomb Gregory D.
Published: August 2016

AlthoughPtychodusteeth are well known in Late Cretaceous marine deposits in North America and Europe and a few specimens with jaw elements have been discovered, the taxonomic position of the shark genusPtychodusis enigmatic due to the lack of preservation of diagnostic material other than teeth. These sharks possessed a pavement dentition suited to a diet of hard-shelled macroinvertebrates (durophagy), leading several studies to variously describePtychodusas a batoid, a hybodont shark, or a selachimorph. Members of the Selachimorpha share one dental synapomorphy, a triple-layered enameloid (TLE) consisting of an outer shiny-layered enameloid (SLE) of randomly oriented hydroxyapatite crystallites, a middle layer of parallel-bundled enameloid (PBE), and an inner layer of tangled-bundled enameloid (TBE). Batoids and hybodonts both have teeth with single crystallite enameloid (SCE). We examined teeth fromPtychoduscollected from the Lincoln Limestone of the Greenhorn Formation of Barton County, Kansas, and compared their enameloid ultrastructure with that of a Carboniferous hybodontiform and the Cretaceous lamniform sharkSqualicorax curvatusWilliston, 1900. Scanning electron microscopic examination ofPtychodusshows that crystallite bundling in the form of a TLE is evident in these teeth. The PBE is most apparent at transverse enameloid ridges ofPtychodusteeth. Columns of dentine penetrate into the tooth enameloid, and the crystallites near the dentine are randomly oriented. These observations bolster the argument thatPtychodusis a genus of highly specialized selachimorph shark, rather than a hybodont or batoid.
Hollywood’s Rogue Neighbor: The Argentine Film Industry during the Good Neighbor Policy, 1939–1945
Authors: Falicov Tamara L.
Published: August 2016

‘During World War II, the United States created a political, economic, I land cultural policy aimed at improving hemispheric relations between the U.S. and Latin America. Dubbed the “Good Neighbor Policy,” its objectives were twofold: 1) to insure that nations in Latin America were joined in the Allied war effort and were not associated with the Axis or Communist sympathizers, and 2) to allow the U.S. access to Latin America as a source of raw materials and a market for goods, including films. Because Argentina did not side with the Allies, instead preferring neutrality, it was castigated by an economic boycott. Beginning in 1941, the U.S. sold small rations of raw film stock to Argentina, and over time, refused to sell it all together. The film industry in Argentina, at the time considered the most profitable and advanced in Latin America, began to lose its hold on the Spanish-language market.
The effect of healthy dietary consumption on executive cognitive functioning in children and adolescents: a systematic review
Authors: Cohen J. F. W. , Gorski M. T. , Gruber S. A. , Kurdziel L. B. F. , Rimm E. B.
Published: August 2016

A systematic review was conducted to evaluate whether healthier dietary consumption among children and adolescents impacts executive functioning. PubMed, Education Resources Information Center, PsychINFO and Thomson Reuters’ Web of Science databases were searched, and studies of executive functioning among children or adolescents aged 6–18 years, which examined food quality, macronutrients and/or foods, were included. Study quality was also assessed. In all, twenty-one studies met inclusion criteria. Among the twelve studies examining food quality (n 9) or macronutrient intakes (n 4), studies examining longer-term diet (n 6) showed positive associations between healthier overall diet quality and executive functioning, whereas the studies examining the acute impact of diet (n 6) were inconsistent but suggestive of improvements in executive functioning with better food quality. Among the ten studies examining foods, overall, there was a positive association between healthier foods (e.g. whole grains, fish, fruits and/or vegetables) and executive function, whereas less-healthy snack foods, sugar-sweetened beverages and red/processed meats were inversely associated with executive functioning. Taken together, evidence suggests a positive association between healthy dietary consumption and executive functioning. Additional studies examining the effects of healthier food consumption, as well as macronutrients, on executive functioning are warranted. These studies should ideally be conducted in controlled environments and use validated cognitive tests.
Dietary choline and betaine intake, choline-metabolising genetic polymorphisms and breast cancer risk: a case–control study in China
Authors: Du Yu-Feng , Luo Wei-Ping , Lin Fang-Yu , Lian Zhen-Qiang , Mo Xiong-Fei , Yan Bo , Xu Ming , Huang Wu-Qing , Huang Jing , Zhang Cai-Xia
Published: August 2016

Choline and betaine are essential nutrients involved in one-carbon metabolism and have been hypothesised to affect breast cancer risk. Functional polymorphisms in genes encoding choline-related one-carbon metabolism enzymes, including phosphatidylethanolamineN-methyltransferase (PEMT), choline dehydrogenase (CHDH) and betaine-homocysteine methyltransferase (BHMT), have important roles in choline metabolism and may thus interact with dietary choline and betaine intake to modify breast cancer risk. This study aimed to investigate the interactive effect of polymorphisms inPEMT,BHMTandCHDHgenes with choline/betaine intake on breast cancer risk among Chinese women. This hospital-based case–control study consecutively recruited 570 cases with histologically confirmed breast cancer and 576 age-matched (5-year interval) controls. Choline and betaine intakes were assessed by a validated FFQ, and genotyping was conducted forPEMTrs7946,CHDHrs9001 andBHMTrs3733890. OR and 95 % CI were estimated using unconditional logistic regression. Compared with the highest quartile of choline intake, the lowest intake quartile showed a significant increased risk of breast cancer. The SNPPEMTrs7946,CHDHrs9001 andBHMTrs3733890 had no overall association with breast cancer, but a significant risk reduction was observed among postmenopausal women with AA genotype ofBHMTrs3733890 (OR 0·49; 95 % CI 0·25, 0·98). Significant interactions were observed between choline intake and SNPPEMTrs7946 (Pinteraction=0·029) andBHMTrs3733890 (Pinteraction=0·006) in relation to breast cancer risk. Our results suggest that SNPPEMTrs7946 andBHMTrs3733890 may interact with choline intake on breast cancer risk.
ISLANDERS, PROTESTANT MISSIONARIES, AND TRADITIONS REGARDING THE PAST IN NINETEENTH-CENTURY POLYNESIA
Authors: SMITH TOM
Published: August 2016

In this article, I consider Polynesian genealogies, which took the form of epic poems composed and recited by specialist genealogists, and were handed down orally through generations of Polynesians. Some were written down in the nineteenth century, reaching an English-speaking audience through a number of works largely neglected by historians. In recent years, some anthropologists have downplayed the possibility of learning anything significant about Polynesian thought through English-language sources, but I show that there is still fresh historical insight to be gained in demonstrating how genealogies came to interact with the traditions of outsiders in the nineteenth century. While not seeking to make any absolute claims about genealogy itself, I analyse a wide body of English-language literature, relating chiefly to Hawai‘i, and see emerging from it suggestions of a dynamic Polynesian oral tradition responsive to political, social, and religious upheaval. Tellingly, Protestant missionaries arriving in the islands set their own view of history against this supposedly irrelevant tradition, and in doing so disagreed with late nineteenth-century European and American colonists and scholars who sought to emphasize the historical significance of genealogy. Thus, Western ideas about history found themselves confounded and fragmented by Polynesian traditions.
Graduation of the Annuitants' Experience.
Authors: King Albert E.
Published: August 2016

The following notes were put together in order to collect into a convenient form for reference a few ideas as to what may have been the procedure adopted in the Graduation of the Annuitants' Experience.

The Student is greatly indebted to Mr. Hardy for the information given both in the volume, “Account of the Principles and Methods, &c,” and for affording subsequently, in his Lectures on Graduation, the opportunity to follow his work, and is again fortunate in having, for purposes of reference, the stores of information to be found in Mr. Ackland's paper to the Faculty, and Mr. Todhunter's Reviews in Vols. 38 and 43 of the Journal.
The Error involved in the Approximation for qx
Authors: Tayler H. Hosking
Published: August 2016

1. The exact value ofqxis

On the assumption of an uniform distribution of deaths over the year of age

If deaths are not uniformly distributed all these quantities may differ. This may be shown by expressing the first and last in the terms of the second, thus by Taylor's theorem:—
Valuation of a Pension Fund and Problems arising therefrom
Authors: Taylor F. G.
Published: August 2016

The following remarks do not purport to contain any original matter but are merely an attempt to outline the routine followed in the valuation of a pension fund and to indicate certain problems which must be dealt with by the Actuary undertaking the valuation.

The method of valuation is in the nature of an exercise in the use of the salary scale to give actual increases and not rates of increase.

For the purposes of illustration a fund providing the following benefits is taken as an example.
The Method of Separation of Symbols in Finite Differences
Authors: Alison S. H.
Published: August 2016

It is proposed to deal in somewhat greater detail than is customary with the reasons why we are entitled to separate symbols of operation from the quantities upon which they operate, combine them together as if they were ordinary symbols of quantity and interpret the results in terms of other operations.

As a preliminary it may be well to say a word or two on the three primary laws of algebra, the law of distribution, of commutation and the index law and what these imply. Chrystal, in the first chapter of hisAlgebra, starts from the primitive notion of numbers (i.e.positive integers) and shows that the essential laws according to which these whole numbers combine are these three primary laws. He then shows how the meanings and properties of negative and fractional numbers are fixed by the condition that the meanings which are given to them are to be such as will give consistent results when we combine such numbers with other numbers according to the three primary laws. An illustration from the index law will perhaps make the point clearer.
The Solution of questions in Probability.
Authors: Henry A. , Freeman H.
Published: August 2016

Probability questions are particularly difficult to the student, since the methods of solution are varied, and, unless the would-be solver has considerable experience, the best method of attack is not easily detected. The only way in which a satisfactory grasp of the subject can be attained is by working on a variety of problems of different kinds. The student will then find that questions in probability tend to fall into certain groups, but, even when he has arrived at this conclusion, he will discover, also, that the boundaries of these groups are by no means well defined, that a solution may often be reached by quite different lines of reasoning and that, except in the simplest cases, it will need all his experience to make a proper classification of any particular example.

The object of this note is to assist students to work on these lines by affording him examples of various kinds—with hints for their solution. We have deliberately refrained from giving the solutionsin extenso, in order to encourage the student to work the examples through and sd obtain the practical experience which is so essential to proper knowledge.
Investment Bookkeeping.
Authors: Atkins F. C.
Published: August 2016

The following is a short account of the various records used and of the entries necessitated by the purchase of, and subsequent dealing with, Stock Exchange investments. In other words, it endeavours to trace so much of their history as is written in the books of that department of an insurance company which deals with Stock Exchange securities, which may be called for convenience the Investment Department.

Such a department would not keep the final books of account which provide the items for the Balance Sheet and other returns, all such information being obtained from the accountants' section. It would, however, decide upon the method of treatment of the many problems which arise in connection with security transactions.
Single Premium Policies.
Authors: Wood C. F.
Published: August 2016

For some time past there has been a large amount of business transacted by Life Insurance Companies under what is commonly known as the “Super Tax Saving Scheme.”

A person who is liable for super tax effects with an insurance company a whole life or endowment assurance with or without profits by a single premium. The company then advances a large proportion of the single premium to the assured on the security of a first charge on the policy and bonuses, if any.
The Machinery of an Annuity Valuation
Authors: Willoughby-Meade G.
Published: August 2016

It is hardly necessary to remind Members of this Society that little has been written in the Journal of the Institute on this subject.

Annuities are essentially uniform, monotonous things, devoid for the most part of those ingenious gadgets and fascinating sideshows with which we are wont to dress up Life Insurance for the edification of the non-technical public. The annuity, however, for all its smooth exterior, is a thing to be handled with caution. We have always to keep in mind the following obvious but very important facts:—

(a) That the contracts, in most cases, are completed in one transaction, for good or ill;

(b) that, among immediate annuities, there are few withdrawals or alterations;

(c) that the rate of mortality, especially among those female lives which form the bulk of our experience, is always diminishing;

(d) that this diminishing mortality is to the Companies' disadvantage;

(e) that there is nothing which exactly counterbalances (d);

(f) that there are no bonus-sharing annuities, so far as I am aware, which can be utilised to exhibit profit or absorb loss.
Privately Administered Pension Schemes
Authors: Brown C. H. L.
Published: August 2016

Privately administered pension schemes may be divided into 3 main classes:—

(1) those which provide pensions based on the salary received by the members.

(2) The type known as the “Money-purchase” fund in which each year's contribution is applied as a single premium to purchase an amount of pension at the retiring age.

(3) Funds which provide pensions which are fixed in amount in return for a definite contribution which varies according to the age at entry.

There are, of course, numerous funds which do not fall exactly into one of these categories—in fact, private funds are usually framed so as to suit the individual needs or preferences of the employers and the members.
Approximate Valuation
Authors: Gunlake J. H.
Published: August 2016

It may not unfairly be said that the earliest approximate valuation method—Woolhouse's—was born out of its time. Presented as it was nearly fifty years ago to a world whose views on such matters were rather different from our own, it attracted but little attention, and appears to have given rise to no subsequent developments. Indeed, the author himself seems to have thought rather slightly of the suggestion, and in the brief discussion which followed the reading of his paper, emphasised distinctly that he regarded the method merely as an auxiliary check. The truth is, the idea was altogether too simple, and so has suffered half-a-century of neglect whilst other methods (some of which have received impressive algebraic treatment and given rise to a quite extensive literature), dating from independent investigations made many years after Woolhouse's, have been devised, tested, acclaimed and have passed into current use. And so we come to the latest pronouncement on Woolhouse's method, the almost ex cathedra sentence passed by Mr. Lochhead in “Valuation and Surplus“ (page 52) that the “method is extremely simple, but is not very powerful.”
Curve Fitting
Authors: Redington F. M.
Published: August 2016

For the purposes of this paper the term “curve-fitting” is not synonymous with “graduation.” It is restricted to graduation by means of an explicit algebraic or trigonometrical formula: graphic and summation methods are excluded. Even so the subject is unlimited, and this paper cannot provide more than an explanation of a few general principles, and a brief exposition of some of the problems of special interest to the actuary.

Our starting point is this: we have decided to fit a curve (vx) to a series of crude figures (ux) and the problems that confront us are:—

(a) What formula are we to ascribe to vx?

(b) How are we to choose the constants in vx in the best possible way?

(c) How are we to test the goodness of fit and to compare the results of different graduations?
Statistical problems of naval aircraft provisioning.
Authors: Beard R. E.
Published: August 2016

I have been asked to give you some idea of the activities which occupied me for four years of the war, namely, my duties with the Admiralty. For obvious reasons it is not possible for me to give in detail many of my impressions or the problems that arose in the work which was mainly directed to the end of securing the right number of the right type of Naval Aircraft at the right place at the right time. In practice the emergency of the problem precluded the use of sophisticated methods, and recourse had to be made to practical measures designed to provide a fair approximation to the answer sought.

As an instance of the actuarial nature of the problem involved it may be noted that the life of an aircraft is made up of three components:

(a) a period when, although serviceable, the aircraft is ineffective through being in transit, etc.,

(b) a period when it is effective and in use (including that in ‘ready reserve’), and

(c) a period when the aircraft is ineffective while undergoing repair, etc.
Single premium for an assurance of the amount outstanding under a Building Society mortgage.
Authors: Gosden H. A.
Published: August 2016

The accurate calculation of the net single premium at rate of interestifor an assurance to cover the amount outstanding under a Building Society Mortgage subject to a higher rate of interestjis a fairly lengthy process. However, as a fairly heavy contingency loading is usually added, the following simple method gives results sufficiently accurate for most practical purposes.

For a loan of initial amount unity repayable overnyears by level annual instalments in arrear the single premium calculated at rate of interestjon a life agexis given by the expression

The sum assured is payable at the end of the year of death and is equal to the amount of the loan then outstanding before payment of the instalment then due.
The multiplying punch in a life office
Authors: Lander Max
Published: August 2016

Punched-card machinery is in fairly common use in Life Offices and in the following paper I shall assume familiarity with the more usual machines, i.e. punches and verifiers, sorters and tabulators, together with ancillary machines such as reproducers, collators or interpolaters, and interpreters. For those who are not familiar with these machines several explanations have appeared already in print, a recent example beingThe development of the punched card methodby K. J. Hedley, read before the Actuarial Society of Australasia in the latter part of 1946 and appearing in theTransactionsof that body. The purpose of the present paper is to explain with some detailed examples of the method of application how the addition of a multiplying punch to a punched-card installation adds greatly to the power of that installation to perform calculations of certain types important to Life Offices, and how those calculations can be performed with great economy of manpower as compared with existing methods. I do not pretend to make an exhaustive survey of the uses of this remarkable machine.
Notes on valuations for Estate Duty purposes
Authors: Goodchild W. P.
Published: August 2016

These notes were written after a meeting of the Students' Society at which Mr A. W. Joseph submitted some problems in reversions concerning the valuation of an annuity. It has been my experience that where a case is submitted to an actuary ‘for valuation of an annuity’ it is imperative to obtain precise instructions on the circumstances and purpose of the valuation and the exact nature of the interests to be valued. It frequently turns out that the valuation to be made does not entail the valuation of an annuity. The following paragraphs may help to indicate what may be required in a number of cases.
A nomogram for calculating extended terms
Authors: Michel J. G. L.
Published: August 2016

The simplest form of nomogram is a graphical device for representing a functional relationship between three variables in a manner which is often more convenient for practical reference than that of plotting a series of contours for chosen values of one of the three variables on a Cartesian graph. We develop the basis of such a nomogram by means of analytical geometry in this section.

The condition that three points (ξ1, η1), (ξ2, η2) and (ξ3, η3) shall be collinear is commonly expressed by means of the determinant

If the relationship between three variablesa, bandcwhich we wish to represent nomographically is

F (a,b,c) = o, (2)

and we can express (2) in the determinantal form [similar to (1)]

wheref1f2(a),f2(b),f3(c),g1(a),g2(b) andg3(c) represent (generally) different functions ofa, bandc, it is apparent that we can associate

any three particular values ofa, bandcsatisfying (2) with the points

on a Cartesian graph; and they will be collinear because (3) is of the same form as (1).
The conversion of whole life extras into extra premiums for other classes of assurance.
Authors: Jenkins P.T.
Published: August 2016

A problem of occasional practical importance is to find the extra premium for a particular class of policy, which corresponds to an extra premium fixed by the Medical Officer for a standard class of policy, here assumed to be whole life. Except when the extra mortality can be assessed by a simple ‘rating up’ of the age of the assured, this problem is not easily solved. The direct calculation of the required extra premium from specially constructed mortality tables would be very laborious, particularly in view of the necessity to reproduce the given whole life extra.

In the following note a procedure is developed which provides in the circumstances mentioned and without undue labour, an extra premium for any class of policy once it is decided whether the extra risk is of increasing, constant or decreasing type. A few examples illustrate how the method may be applied in practice.
Female mortality in early life and its effect upon reproductivity
Authors: Pollard A. H.
Published: August 2016

The gross and net reproduction rates differ only on account of the mortality factor and the difference, at present, is quite appreciable. If we are investigating the possibilities of increased reproductivity we would naturally study the causes of the difference between these rates and the likelihood of that difference reducing and thus increasing the reproductivity. In this paper we will determine the extent to which this difference is caused by mortality in different age groups and mortality due to different causes.

In a paper by the present writer (J.I.A.Vol. LXXV, p. 151) the rates of mortality for Australia for different ages and different causes of death were determined. The same material will be used in the present analysis where, assuming constant (1938) fertility and using 1935 mortality, we shall determine the difference between the gross and net reproduction rates and the extent to which this difference results from mortality at different ages and from various causes of death. It should be emphasized here that the many arguments raised against any analysis based on causes of death (transfers between causes, variations in diagnosis, selecting a single cause from multiple causes, etc.) do not apply with much force to the causes of death at the ages that are, in this problem, of most interest.
Estate duty on life policies and annuities
Authors: Houseman David
Published: August 2016

When I was invited to address the Society on some legal subject of my own choice, it was natural perhaps that my thoughts should go back to my first appearance before the Society some 25 years ago. My subject then was ‘Children's Deferred Assurances’, which was appropriate from a personal point of view—I had just become a proud father! My present subject is ‘Estate Duty’, and I am not asking anyone for aqfactor to show me how appropriate it may be from the same standpoint!

It is bold for anyone outside the Estate Duty Office to speak on estate duty; but I have deliberately chosen a dull and uninteresting subject because of its recent added importance to all who are concerned with life policies and annuities. The maximum rate of duty under the Finance Act, 1894, which first imposed it, was 8%. The maximum rate to-day is 80 %. Actuaries and lawyers must clearly do something about it—if they can—for otherwise there will be still less of estates left to be frittered away among the beneficiaries!
Concerning large sample tests and confidence intervals for mortality rates
Authors: Walsh John E.
Published: August 2016

In reference(1), some large sample significance tests and confidence intervals for mortality rates were presented. These results appear to be valid for the usual type of insurance data. Also, for an ordinary mortality study, application of a test or confidence interval does not require much additional work. This paper presents a review of reference (1) along with a discussion of the concepts involved. More extensive tables of significance tests and confidence intervals are included in this paper.

To apply the results of (1), the data must be subdivided according to the first letter of the surname of the person insured. According to present practice, such information is not recorded for a mortality study. Since this recording requires little extra effort at the initial stage of an investigation, however, such information could easily be incorporated into future mortality studies.
Ideas and statistics
Authors: Redington F. M.
Published: August 2016

I have long wanted to give vent to the thoughts in this talk and therefore I should start by saying ‘Thank you’ for providing me with an audience. Although the broad ideas have been in my mind for a long time, when it came to the point I had considerable difficulty in deciding just what to say and particularly in choosing a suitable title. I am far from satisfied with the somewhat pretentious name with which I have christened the infant, but it does I hope convey the thought that although I shall be talking about statistics—a fact which may or may not be an attraction and was therefore better not concealed—it will not be in a detailed technical sense. Indeed one of my first duties must be to disavow, not only any desire but any considerable ability to expound on statistics in detail.

I have reached the age in life when I begin to gain much comfort from the thought that what matters is not the facts you know but the way you think. It is a comforting thought when you have forgotten most of the facts.
Monetary policy
Authors: Haycocks H. W.
Published: August 2016

The proper functioning of a present-day economic system is dependent upon money and prices. This is particularly the case when a large part of the economy is based on private enterprise.

For many years economic text-books have stated the three functions of money to be (1) a means of payment, (2) a store of value and (3) a unit of account. The third function will not be considered in this paper, although a study of the controversy that has occurred recently about the correct principles of accountancy at times when prices change substantially will convince the reader that this function is important.

Whilst all three functions of money have been recognized for many years, the emphasis given to each has changed radically from time to time. Prior to 1930 almost all the emphasis was given to money as a means of payment. This led to an approach to the subject which has been called the transactions-velocity approach.
Life reassurance
Authors: Steeds A. J.
Published: August 2016

The reassurance of life assurance policies is readily accepted by us all as an essential, though a minor, part of Life Assurance. Each office tends to have its own traditional approach to this problem, coloured very often by its attitude to the general problem of underwriting. I think that a discussion on reassurance falls naturally into two parts. First, what amount should be retained for an office's own account? Secondly, having determined the retention, how should the reassurance be effected?

The scientific transaction of Life Assurance began in 1762 with the ‘Equitable’, but, until other Life Offices began to issue permanent policies, there was no scope for reassurance; nor, probably, was there much demand for very large policies. It must be remembered, of course, that in those days £100 was a considerable sum of money. As Life Offices grew and multiplied, reassurance became more common as will be learned by the references to it in the early numbers of J.I.A. Reference should be made to G. T. Foster's paper in J.I.A. 72, 337, where it is pointed out that, one hundred years ago, reassurances were looked at with considerable suspicion; this attitude still exists to some extent.
Practical Aspects of the Industrial Branch Valuation.
Authors: Gardner K. F.
Published: August 2016

In the opening sentence of his paper on the valuation of industrial assurance policies given to the Institute in February 1937, W. J. Fulford said that his subject was essentially a practical one. Certainly the underlying actuarial principles are in no way different from those of the ordinary branch. In fact, the use of continuous functions gives the various valuation formulae a deceptive appearance of simplicity. There are none of the adjustments to allow for incidence of premium income, the formulae for which are the bane of the student grappling with the valuation of ordinary branch policies. The practical aspects, however, are very different. Reference to the published accounts of the Ordinary Offices shows that the new business, even for the largest, amounts only to a few hundred policies each week. In contrast in one large Industrial Office no fewer than 6000 new proposals are received each week while the total ‘offs’ in 1952 amounted to nearly 400,000. Since the Industrial Offices have a pre-disposition to hold their annual general meetings in late March or early April the actuary responsible for the annual valuation is faced with a formidable task if his figures are to relate to business on the books the previous 31st December, bearing in mind that the final results with recommendations have to be considered by the Board, decisions taken, and accounts published all before the Annual Meeting.
Long- and Short-Term Rates of Interest.
Authors: Rose H. B.
Published: August 2016

The object of this paper is to discuss the main principles underlying the pattern of interest rates on government securities in this country. It does not attempt to examine the place in the yield structure of those stocks which may possess special characteristics of term or provision for repayment, etc.; and because of its concentration on general principles the complex effects of taxation have been relegated to the background. The subject is approached by the following stages:

(1) The pattern in the hypothetical case of complete certainty.

(2) The idea of a ‘normal’ pattern, i.e. in conditions of complete uncertainty.

(3) The changing pattern in conditions of varied and fluid expectations.
Friendly Society Amalgamations
Authors: Cornwall C. J.
Published: August 2016

The Friendly Societies Act 1896 provides for two methods of combining the membership, the assets and the liabilities of separate registered friendly societies. Following the procedure of §70 (1) of the Act the societies may amalgamate as one society. For this, the written assent of five-sixths, in value, of the members of each society must be obtained; the value of the members is defined by giving one vote to every member, with an additional vote for each 5 years of membership up to 20 years.

Alternatively, under §70 (2) of the Act, one society may transfer its assets, engagements and liabilities to another. If this procedure is followed, the written assent of five-sixths, in value, of the members of the society transferring its engagements is necessary, but the society receiving those engagements can do so on the resolution of the Managing Committee alone, provided that the Committee has the requisite powers under the rules of the society. For this reason, if one of the societies is large or if it is difficult to contact the members, a transfer of the engagements of the smaller society to the larger is more practicable than an amalgamation.
The Scope for Computer Systems in U.K. Life Offices
Authors: Leapman D. J.
Published: August 2016

During the past decade ‘electronic brain’ and ‘automation’ have become part of the vocabulary of most inhabitants of this country and of many others. Some users of these expressions, however, have at the most only the vaguest impression of the equipment and techniques involved, of their capabilities, and, which is perhaps most important, of their limitations.

The Institute has been fortunate. The paper by R. L. Michaelson which was presented in April 1953 explained, in considerable detail, the logical operation of an electronic digital computer, while A. C. Baker's paper two years later demonstrated how an installation based on this type of equipment might be used for life office work. Moreover, the Institute has set up several study groups concerned with different aspects of the subject, while from the Society of Actuaries in America emanates a steady flow of reports, for the most part based on practical experience within the insurance companies of the U.S.A.
XVth International Congress of Actuaries
Authors: Freeman H. N.
Published: August 2016

The President of the Institute of Actuaries was in the Chair. The opener prefaced his formal remarks as follows:

I would first of all like to say how pleased and honoured I feel to have been asked once again to take a part in the proceedings of this Society, particularly as this must be regarded as a special occasion since we are honoured by the presence in the chair of you, Sir, the President of the Institute, and also because this meeting is in the nature of an experiment.

It may be within your recollection, Sir, that on the first occasion, some thirty years ago, when I was asked to take part it was also an experiment. We met at the Old Bell and my part was in what has come to be known as Heath's play. It was therefore not so much a surprise to me, as it might have been to some, when three or four months ago the Chairman of the Society telephoned me and asked me to take part in another experiment, mentioning a symposium. Being one of those who dodged compulsory Greek in my undergraduate days I temporized. I consulted a Pocket Oxford Dictionary and found that my memory had not let me down: ‘symposium = a Greek drinking party’. Pursuing the matter further, I consulted the larger edition: ‘symposium = a drinking party, a convivial meeting for drinking and conversation’, and the only example it gives of the use of the word, ‘our symposium at the King's Head broke up, 1787’. This seemed conclusive and, remembering the symposia I had enjoyed with Alan Gardner in the past, I agreed to come along. I was a little disturbed when I received the notice of meeting which mentions a review, but I concluded this was just a printer's error for revue, although I thought the title unusual. My doubts were quite set at rest on Monday when you yourself announced in this Hall that the Society would meet tonight for a symposium.
XVth International Congress of Actuaries Papers submitted under Section IVa
Authors: Beard R. E.
Published: August 2016

Part of the formal business of the meeting of the Congress of Actuaries consisted in the modification of the rules of the Permanent Committee to provide for the formation of sections concerned with the study of special subjects. The first of such sections, to be known as ASTIN and concerned with the application of modern mathematical and statistical methods to non-life insurance, was also formed during the Congress. Dr Paul Johansen of Copenhagen, a corresponding member of the Institute, was elected Chairman of ASTIN and R. E. Beard of London was elected Secretary.

Section IVa, Analytical Expressions of the Risks involved in General Insurance, was of great interest to those actuaries interested in ASTIN, and the following notes have been prepared on the sixteen papers submitted in an endeavour to indicate the type of problem being considered by the new section of the Permanent Committee.
Mortality of the Middle-Aged
Authors: Martin L. V.
Published: August 2016

The past 25 years have brought dramatic improvements in mortality rates in Great Britain. Infant mortality is now about 40% of what it was a quarter of a century ago: death-rates for children have been reduced to less than 1 per 1000. Not only children have benefited; young adults in the 15–44 age-group experience mortality little more than a third of what it was in the early thirties, whilst women aged 45–64 have had an improvement of about 40%.

It is therefore regrettable that the experience of men aged 45–64 is a black spot in the general picture. The improvement for men in this age-group has not kept pace with that for women of the same age, being only about 15% in 25 years, little more than ½% a year. Table 1 compares the death-rates for men and women in post-war years and demonstrates very clearly how over a period of 12 years the ratio of male to female mortality has steadily increased.
The Place of Lump-Sum Benefits in Superannuation Schemes
Authors: Francis P. R.
Published: August 2016

It has long been recognized by statute and by general consent that the main purpose of a pension scheme is the provision of annuities for employees on their retirement and for the dependants of employees who die either in service or after retirement. In recent years, however, the provision of lump-sum benefits in addition to annuities has become widespread; in national and local government service, and in some of the public boards, superannuation arrangements include the provision of lump sums on a substantial scale. In industry and commerce, the advantages of tax-free lump sums have been vigorously sold, with considerable success, by brokers specializing in pension-scheme business.

The objects of this paper are to place such claims in perspective and to explain in broad terms the various methods by which lump-sum benefits may be provided. Reference will be made to insured and to privately administered schemes, but the detailed provisions of trust deeds and insurance contracts are not within the scope of this paper.
An Introduction to Dynamic Programming
Authors: Gluss Brian
Published: August 2016

Dynamic programming, a mathematical field that has grown up in the past few years, is recognized in the U.S.A. as an important new research tool. However, in other countries, little interest has as yet been taken in the subject, nor has much research been performed. The objective of this paper is to give an expository introduction to the field, and give an indication of the variety of actual and possible areas of application, including actuarial theory.

In the last decade a large amount of research has been performed by a small body of mathematicians, most of them members of the staff of the RAND Corporation, in the field of multi-stage decision processes, and during this time the theory and practice of the art have experienced great advances. The leading force in these advances has been Richard Bellman, whose contributions to the subject, which he has entitledDynamic Programming[1], have had effects not only in immediate fields of application but also in general mathematical theory; for example, the calculus of variations (see chapter IX of [1]), and linear programming (chapter VI).
Estate Duty in Relation to Life Assurance and Annuity Policies
Authors: Boss R. W.
Published: August 2016

It is probably fair to say that during the last decade problems of internal administration have faded into insignificance besides the legal problems which now arise out of a life office's relationship with its policy-holders—in particular in regard to estate duty matters.

Before examining the position in detail I would like to make some general remarks regarding the burden of estate duty on life assurance policies today. Rates of duty are progressive, as the table on page 399 shows, and bear most heavily on the large estates. Therefore, not surprisingly, a good deal of interest and effort has centred in recent years in reducing this burden.
Administration of Group Pension Schemes
Authors: Tew K. G.
Published: August 2016

In this paper, the main object of which is to promote a mutually helpful discussion, a deliberate attempt has been made to avoid going into detailed descriptions of methods of administration. These vary, of course, from office to office and it is quite reasonable that the difficulties which presented themselves should have been successfully surmounted in different ways. It is both interesting and informative to learn the various practices which have been adopted, but a close study of them may lead to an oversight of underlying problems and a disproportionate expenditure of time.

It should also be mentioned that the title would be really more suitable for a whole book rather than for a short paper presented for a single evening's discussion. Consequently, two restraints have been imposed, both of which derive from the dynamic growth in size and complexity of group pension business over the last two or three decades.
Extra Risks.
Authors: Jarvis H. J.
Published: August 2016

The purpose of this paper is not to consider the specific ratings that should be imposed on life assurance policies where the proposer is not acceptable at ordinary rates, but rather the methods used and problems involved in translating assessments of extra mortality into monetary terms. At times the two problems overlap so the division is not an absolute one.

The subject has been covered at various times in the past both at the Institute and the Faculty; since the war the subject has attracted more attention at the Faculty with papers by T. M. Springbett and then S. C. Keppie and A. C. Stepney (both inT.F.A.19), but there is also the well-known paper by W. Perks (J.I.A.78). An earlier paper is by W. P. Elderton (J.I.A.54).