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PhD, MFin & MSc Programs
Institute of Actuaries awards Laurier professor with highest honour
News Release
Jun 24/08
| Contact: |
Dr. Phelim Boyle, Professor, Finance |
| or |
Kevin Crowley, Associate Director, News and Editorial
Services |
WATERLOO For the first time in 10 years the UK-based Institute of
Actuaries has found a candidate for its highest honour: Laurier professor
Dr. Phelim Boyle was awarded a Gold Medal for his 30 years
of outstanding contributions to actuarial science.
It is a
great honour and a great pleasure to receive this award, said Boyle. I
have been very lucky to work with great colleagues, smart students and very
clever co-authors.
The prestigious award only 13 have been granted
since the award was established in 1919 is given only to honour work that
is of pre-eminent importance. Through his extensive and innovative research,
Boyle pioneered work on pricing financial risks and developing products to
transfer risks. In 1977, he published an important financial paper that
introduced the Monte Carlo method of pricing options, a method that is still
widely used today.
Boyle has written almost 100 papers
and written or contributed to several books. He has advised
several financial institutions in the United States and Canada on risk
management issues and is actively involved with a local investment firm.
His achievements also garnered him the SunGard/IAFE Financial
Engineer of the Year Award, the Nobel prize in finance, which he won
in 2005.
We are delighted that Dr. Boyle has received this truly historic recognition
for his brilliant work, said fellow professor Dr. Brian Smith. He is a
terrific colleague who is instrumental in developing the next generation of
finance scholars through our doctoral program.
Actuaries use
mathematics to model financial risks. The Institute of Actuaries in London, UK,
was established in 1848 and is the oldest actuarial body in the world. Its
objectives include promoting knowledge and research in actuarial science and
regulating the profession. Boyle is a fellow of both the UK Institute of
Actuaries and the Canadian Institute of Actuaries and an honourary fellow of the
Society of Actuaries in Ireland.
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