No negative equity guarantees, early repayments, operational risks and more were examined at Sandersonís latest breakfast briefing.
With nearly 30 years of experience in the actuarial market, Patrick Kelliher, Risk Consultant and the MD of Crystal Risk Consulting, led the very first Sanderson Actuarial breakfast briefing on the 6th June 2019. The event took place at the Sheraton Hotel in Edinburgh city centre and brought together professionals within the actuarial community to discuss ongoing topics within the industry.
Patrick began by giving an overview and brief history lesson of Equity Release, the Life Time Mortgages (LTMs) market, and the current demand for equity release products. The seminar then progressed into the risks associated with Equity Release - including "no negative equity" guarantees (NNEGs), early repayments, and conduct and operational risks. Patrick also discussed the rewards for these products and how these compare to the risk related with them.
Rosie Fearnley, Actuarial consultant, present at the event, said:
ďThe seminar was excellent. Patrick delivered an insightful presentation which generated a great deal of interesting discussion amongst the attendees. Due to Sandersonís increasing presence within the actuarial market, it was also an excellent opportunity to develop our relationships with our senior network in Edinburgh. We hope to organise more events like this in the near future, across other key regions in the UK.Ē
The breakfast briefing was a great opportunity to connect with our Actuarial network in Edinburgh in a growing regional, and national market. The actuarial market has increased its stature in the last few years; in 2018, graduates applying for work in the actuarial profession has risen by 9.1% and of the class of 2018, 58% of the class were women entering a largely male-dominated field.
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Sanderson have sponsored NoCA in recognition of NoCA aiding in the continuous learning of actuaries within their sector.