News
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Actuarial Profession appoints General Counsel
Dual qualified in England and Scotland, Mr Kemp has extensive experience in advising regulatory and professional bodies across a wide range of sectors. He is an experienced advocate, having appeared regularly before disciplinary tribunals of ... read more >>
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Comments on EIOPA CP-11/006. Response to call for advice on the review of Directive 2003/41/EC: Second consultation - IORP Directive
This is the consultation EIOPA has issued on revisions to the Institutions for Occupational Retirement Provision (IORP) Directive. The IORPs within scope can be defined broadly as all funded defined benefit and defined contribution pension schemes. A copy ... read more >>
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Why life expectancy figures don’t always tell the whole story
This is one of the key messages from Issue 02 of the Institute and Faculty of Actuaries’ Longevity Bulletin, published today. ... read more >>
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Actuarial Profession Appoints Chief Executive
Mr Cribb is a Chartered Accountant and he has broad experience, having carried out a range of strategy, operations, and financial roles. He has worked in a wide variety of businesses in the commercial and not for profit sectors, including ... read more >>
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CMI library of mortality projections
The CMI has published version 1.3 of the CMI library of mortality projections, containing 22 additional projections, including the ONS 2010-based National Population Projections. See: CMI library of mortality projections for further details. ... read more >>
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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 >>
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Enhanced transfer values and pensions increase exchange exercises
The Institute and Faculty of Actuaries’ approach to ETVs and PIEs The Institute and Faculty of Actuaries does not have any direct regulatory role in this area but our public interest remit does lead us to consider what we can do to ... read more >>
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New research shows wide regional variations in bodily injury claims, with North-West England the top hot spot
The research shows that these claims hotspot areas match areas with the highest concentration and activity of claims management companies. In general, more claims management companies means more personal injury claims. ... read more >>
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Findings from the 2011 student education survey
Key highlights The response rate was 8% of which three quarters were in the UK. The largest group answering had been students for 1-3 years. For finding out information, the majority of students use the website although there were several comments about ... read more >>
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Volunteers sought to assist with the implementation of the Profession's new strategy
A lead volunteer is sought to work within each of the Profession's directorate. Whilst overall responsibility for project management and delivery remains with the Executive, our lead volunteers will ensure that members' expectations arising from the ... read more >>
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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 >>
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CMI publishes papers on Per Policy results
CMI Working paper 56 sets out the initial format for results using per-policy life office mortality data, whilst CMI Working paper 57 consults on how these results may be developed in future. Responses are requested by 30 November 2011. ... read more >>
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Consultation paper on conflicts of interest
Consultation meetings have been arranged for London and Edinburgh. Further details can be found here. ... read more >>
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Actuarial Profession welcomes move to ban referral fees for third party injuries
The research has consistently identified high levels of personal injury claims as a key inflationary driver for the motor insurance industry. And, as costs to the industry rise, so do premiums. Figures from the Confused.com/Towers Watson Car Insurance ... read more >>
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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 >>
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CMI publishes working paper 55
This paper accompanies the issue of the updated version of the CMI mortality projections model, CMI_2011 and illustrates the impact of incorporating data for 2010. Issued alongside the paper are the revised and updated versions of the model and the user ... read more >>
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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 >>
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Cross practice announcement: new APSs, new TASs and withdrawal of GNs
APS L1: Duties and responsibilities of life assurance actuaries; andAPS L2: The Financial Services and Markets Act 2000 (Communications by Actuaries) Regulations 2003Both APSs are effective from 1 October 2011. ... read more >>