This is the first report to be released by the Institute's new Life Risk Insurance Committee and covers the investigation of Lump Sum business, including Death, TPD and Trauma experience and Immediate Annuities. It covers the two year period from 1/1/1998 to 31/12/1999. Whilst data volumes and quality has made the drawing of credible conclusions about trends and rates difficult there are indications that there is a need to review the standard tables used for solvency calculations. A new format of investigation is in development to allow better reporting and analysis of experience including the interaction between Death, IPD and Trauma cover to allow for better calculations of actual vs expected experience. The report also highlights the significant degree of variance in results between companies and the need to have full participation in the investigation if it is to produce credible and reliable results.