Accurate, evidence-based valuations

MorganAsh works with pensions consultants, providing an evidence-based approach to underwriting that delivers far more accurate valuations.

Medically underwritten mortality studies (MUMS)

Medically underwritten mortality studies (MUMS)

The business need

Trustees and organisations need to assess the longevity of defined benefit pension scheme members – but are plagued by wildly varying estimates. Traditional methods of assessment are flawed, relying on projecting analysis of postcodes – and can vary greatly, since they are based on assumptions not solid information.

The service

MorganAsh provides an alternative approach to scheme valuation, which can be combined and compared with traditional methods to give a different perspective. We assess the health of individual scheme members and then estimate their longevity, using long-established life insurance medical underwriting techniques. This evidence-based approach has typically shown variations of 5–10% in valuations, resulting in changes in valuations of millions of pounds.


  • Telephone surveys undertaken by qualified nurses, experienced in working in the insurance sector.
  • Well-defined, structured, proven service.
  • Evidence-based approach provides longevity estimates based on real data of the actual scheme.


  • Provides evidence-based, improved-accuracy scheme longevity valuations.
  • Resolves valuation arguments.
  • Prepares for future buy-in/-out transactions.
  • Improves risk management, notably for Solvency II.
  • Assists negotiations for funding requirements.
  • Facilitates mergers and acquisitions activity.

Our clients say:

The time-saving for the adviser more than makes up for the small charge for using the MorganAsh service and we would recommend the service to all advisers with clients who are considering annuity purchase where impaired rates might apply.

Julie Calvert, technical director, Pavis Financial Management