South African Actuarial Journal is published by the Actuarial Society of South Africa (ASSA). It is issued free to members of ASSA and will also be made available to them on the Society's website for access via the Internet. The focus of SAAJ is on actuarial research–particularly, but not exclusively, on research of relevance to South Africa. The subject matter must, however, lie within the scope of actuarial work and be relevant and of interest to at least a minority of the profession in South Africa. This journal is now open access and is available for free at: http://www.actuarialsociety.co.za/South-African-Actuarial-Journal-136.aspx