News
-
New structure for Professionalism courses
From February 2012 the current 1-day Associate Course and 2-day New Fellows courses will be replaced by a choice of: a 1-day face-to-face event where, in addition to other features, participants will work through mini case studies both generic and ... read more >>
-
Actuarial Profession publishes new framework for use of discount rates in actuarial work
In particular they are central to the calculation of some of the key numbers in pensions and insurance today, affecting millions of people, including the calculation of • Reserves in company accounts for pensions and insurance ... read more >>
-
Institute and Faculty of Actuaries accredits BSc in Actuarial Science at Hong Kong University
This is the first programme to be accredited in Asia and is an important milestone in the Profession’s programme of international activities. The accreditation will mean that students who graduate with this degree with the required marks in specified ... read more >>
-
Actuarial Profession appoints new Management Board Chairman
Alan became a Fellow of the Institute and Faculty of Actuaries in 1984. He has had a distinguished career at Bacon & Woodrow and then Hewitt Associates, where his roles included a number of senior management and leadership positions in the UK and ... read more >>
-
Institute and Faculty of Actuaries President’s Award winners
The President’s Award is given to members of the Profession who have, in the opinion of the President, made a particular and special contribution to the Institute and Faculty of Actuaries. The recipients this year were: · Sally ... read more >>
-
Jane Curtis becomes President of the Institute and Faculty of Actuaries
Jane said: “Ronnie will be a hard act to follow. His contributions to our strategic review, the promotion of the CERA qualification and our new public affairs strategy are a just a few examples of where he has made his mark. We also owe thanks to ... read more >>
-
Sciences of complexity and complex adaptive systems are key to understanding risk
The research, carried out for the Actuarial Profession by Neil Cantle of Milliman and Neil Allan of the University of Bath, focussed on two key problems in risk management; the setting of risk appetite with a consistent set of risk limits, and the timely ... read more >>
-
Jane Curtis congratulates successful students
April 2011 saw 11,589 examination entries for the Institute and Faculty of Actuaries’ rigorous and challenging examinations. The exams took place in a total of 138 examination centres world-wide, and 4791 entries took place outside the UK. ... read more >>
-
Unravelling the complexity of risk: New research from the Actuarial Profession
The discussion was part of the Actuarial Profession’s enterprise risk management symposium which took place in London on 9 May, 2011. It covered the preliminary findings of research Mr Cantle is currently undertaking with the University of Bath and the ... read more >>
-
Philip Scott to become President-elect for 2011/2012
Mr Scott has extensive financial services experience and his responsibilities have covered finance, risk and actuarial functions, international operations, investment management and life and pensions businesses. He has been a Non-Executive Director ... read more >>
-
Ronnie Bowie comments on the resignation of Louise Pryor from the Board for Actuarial Standards
Mr Bowie said: “The Actuarial Profession enjoys a constructive partnership with the Board for Actuarial Standards and the spirit of co-operation which exists between our two organisations is thanks, in no small part, to the efforts of Louise. On behalf of ... read more >>
-
Whistleblowing guides published
The guides do not impose any new obligations on members or their employers, rather it is hoped that these resources will help the Profession’s members to navigate their way through the complex and difficult situations which may arise from time to time in ... read more >>
-
Martin Weale's speech to the Actuarial Profession
The speech, entitled Uncertain Uncertainty, discussed the nature of uncertainty around macro-economic forecasts and how these uncertainties can best be represented. Full text of the speech can be found here. ... read more >>
-
Notice of public consultation meetings
Exposure Draft 24 of APS P1: Duties and Responsibilities of Actuaries Advising Pension Scheme Trustees (ED24 (APS P1)) Exposure Draft 25 of APS P2: Compliance Review: Pensions (ED25 (APS P2)) Two open consultation meetings have ... read more >>
-
Solvency II and making sense of enterprise risks
Solvency II requires risk interactions to be considered, yet typical risk management techniques split risks into categories which are studied separately then aggregated to look at the overall risk profile. This loses valuable information about the risk ... read more >>
-
CPD Scheme 2010/2011 – Sanctions for non-compliance
Details of the new sanctions can be found here and updated version of the 2010/2011 CPD scheme (version 2) can be accessed by clicking here. ... read more >>
-
Global enterprise risk management webinar announced
Featuring debates on lthe big issues in ERM, the Europe event will feature three leading figures from the European insurance industry: Karel van Hulle of the European Commission Alberto Corinti of the CEA Seamus ... read more >>
-
President delivers first address
Speaking in the first Presidential Address to the recently formed Institute and Faculty of Actuaries, Mr Bowie said that the merger of the Institute of Actuaries and Faculty of Actuaries should be used as a defining moment in the profession, creating ... read more >>
-
Contingent capital in a post Solvency II world
Cormac Galvin and Richard Baddon began by explaining how many contingent capital structures aim to align regulatory with economic capital, their current treatment under Solvency I before going on to examine how transactions may be structured under Solvency ... read more >>