This issue includes:

• The emergence of risk
  by Neil Cantle, John McKenzie
• Phase II IFRS for life insurers workshop
  by Emma McWilliam, Philip Simpson, William Hines
• Copula - modelling non-linear dependency
  by Farzana Ismail, Neil Cantle
• Modelling volatility for structured finance transactions involving longevity risk
  by Stuart Silverman, Emma McWilliam, Philip Simpson
• QIS3 - Initial results
  by Philip Simpson, John McKenzie
• Variable annuity year round-up
  by Gary Finkelstein, Joshua Corrigan
• Developments in the UK longevity resources
  by Emma McWilliam, Farzana Ismail