The Presidential Address relates events which occurred during significant years in the life of the President with matters relevant to the Institute, past, present and still to come, and with what was written by previous Presidents. It considers actuarial education, and specially its links with universities, and then comments on the President's career as a life actuary.

The role of the Appointed Actuary is discussed, and also what an actuary is and does. The international actuarial perspective is covered through a description of the Groupe Consultatif and of the President's other international involvement, especially with Africa. Other subjects covered include with-profits contracts, the dispersion of actuaries throughout England and Wales, the role of the actuary in today's changing world, the relationship between the Institute and the Faculty, and the role of the President. Finally, the President looks forward to what actuaries might be and do in the future.

I now report on my period as President and give my thoughts on the issues which face the profession. But first I would like to call on my friend John Finlaison to remind us of what he said in opening the inaugural discussion of the Institute of Actuaries in 1848:

This Presidential Address is a call to arms for the profession. It outlines many areas in which we could be major contributors if we are prepared to undertake the necessary research, discussion and seminar work. In covering the historical landscape of actuarial work, emphasis is placed on looking to the future in life assurance, pensions and investment. Education, public interest and marketing are all covered in the context of what we need to do and the need to get it done sooner rather than later. Our future, and that of the Faculty, is again opened up for debate to ensure that we remain objectively focussed.

The text of this paper, together with the abstract of the discussion held by the Institute of Actuaries on 25 October 1999, are printed in British Actuarial Journal, 6, I, 55-141.

However, when this paper was discussed by the Faculty of Actuaries, the following ‘Survey of Practice’ had been carried out, and was also presented.

Consolidation of the FTSE Actuaries Share Indices Series and the FTSE Global Industry Classification System. Preparations for the introduction of ‘free float’ weightings (in six bands) on 18 June 2001.