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Elroy

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About Elroy

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  1. http://www.actuaries.org.uk/sites/all/files/documents/pdf/facsm20080317.pdf
  2. Yes. These are called Guaranteed Annuity Options/Rates. Hedging the interest rate component is not impossible.. Hedging the longevity component is much harder....
  3. It wasn't the worst year for 300 years. Sounds more like a 1 in 10 year event. Insurers in the UK are required to hold sufficient assets to cover a 1 in 200 year scenario. Of course, such a measure is a bit hard to calibrate, but a 1 in 10 year event will certainly be fine. "Lloyd's of London has announced that it made a £516m loss last year, after paying out the largest catastrophe claims total on record, at £4.6bn – this made 2011 the worst year for Lloyd’s since 2001, which was badly hit by the terrorist attacks on New York and Washington. These catastrophe losses include those arising from earthquakes in Japan and New Zealand, storms in the US and floods in Thailand and Australia. As a result, the Lloyd’s operating ratio was around 107%." http://www.theactuary.com/news/2012/05/general-insurance-news-round-up-may-2012/ I don't think the Lloyd's market is all that grey haired, but actuaries do tend to be a fairly plain sort. Very much NOT the alpha male type. That said, its fair to say that insurance is not all that sophisticated.
  4. If moving your operation to the north is such a good idea... Why aren't people doing it? I don't actually think the se wage premium is that high. Its more that the type of jobs available pay better. For my occupation the pay is not that much lower outside the se and there are plenty of job opportunities. Same for other professions to some extent. At the low pay end of the spectrum, I don't see pay in London compensating for the cost of living yet compqnis don't have recruitment problems. So why move? If you're on 7 pounds an hour your much better off in bootle than if you were in peckham. In bootle you could buy your own home, in London you're a slave. If you can hire in London at this rate, why move your operation to Liverpool? One way to attempt to fix this problem would be to have regional public sector pay and a regional minimum wage.
  5. My approach would be to: Withold planning permission on any greenfield sites Allow gov compulsory purchase of greenfield at agricultural prices. Add planning permission. Sell to public and building firms via auction. Gov pockets difference. Solve budget problems, boost construction industry and provide homes. The problem in the south east is that it is too crowded and there aren't enough purpose built flats. There just isn't the space for houses unless we want to turn the who,e area into LOs Angeles. Here we should allow compulsory purchase of brownfield land and build apartments, with the current owners being compensated. I'd start with bull dozing the majority of kenning ton, wallworth, Peckham, southwark etc and rebuilding at 20 to 30 stories, with mixed use and plenty of green space.
  6. I think you have your numbers wrong. A good size 2 bed flat in London is about 80sqm. The smallest I've ever seen is about 50sqm.
  7. An estate agent in London said this to me when I made an offer on a place on Monday. Said that people aiming to complete before the stamp duty holiday was over had been burned!
  8. I'm looking for a 250-280 2 bed flat in South London (Streatham/Brixton through to Brockley/Forest Hill etc). Anything worthwhile is selling very quickly. Often within a week. All going to sealed bids. Prices are around 2007 mark or higher. Not sure how much higher as always out bid. Properties often being readvertised at higher prices after seller realises the extent of demand e.g. clealry getting asking price offers a week after advertising. Very high demand out there. Often see the same people at viewings at opposite ends of this extended catchment area.
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