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Philip Booth is Professor of Insurance and Risk Management at Cass Business School. Before that, he was Professor of Real Estate Finance (from 2000-2002). He started working at City University in the old Department of Actuarial Science and Statistics in 1988. He began his career working in the Investment Department of Axa Equity and Law (1985-1988). He has had a period on secondment to the Bank of England (1998-1999) and worked there as a special adviser from 1999-2002. Philip Booth established his reputation in actuarial science in the fields of investment, finance and social insurance. His work in investment and finance included a number of publications in the real estate finance literature on the role of property in pension funds and the valuation of property with upward only rent reviews as well as on property risk analysis. Other research interests include regulation. Philip Booth also works as Editorial and Programme Director at the Institute of Economic Affairs www.iea.org.uk. He is editor of Economic Affairs; Associate Editor of the Annals of Actuarial Science and the British Actuarial Journal; and Assistant Editor of the Journal of Property Research.