News
-
Structure update
The proposals are designed with simplicity, accountability and efficiency in mind and will be phased in through 2011. Our primary goal is to improve our operational effectiveness and better place the Profession to deliver top class services to its ... read more >>
-
News from the Financial Reporting Council, January 2011
Publication of Transformations TAS The BAS published its Specific TAS on Transformations on 16 December 2010. The TAS applies to specified work in relation to both pension and insurance transformations, essentially where there is a change to members’ or ... 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 >>
-
New booking process and dates for 2011/2012 practical exams
We have increased the number of exams we are running and are managing the demand by bringing the booking for these exams more in line with the other exams, where all the dates will be visible but there will be clearly defined booking periods. We feel that ... read more >>
-
Actuary predicts Premier League champion and who will be relegated
At the Actuarial Profession's Life conference, taking place in Birmingham from 7 to 9 November 2010, Greg will deliver a presentation using computer simulations and a technique known as Monte Carlo simulations, named after the casino capital of ... 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 >>
-
Publication of exposure drafts for APSs for pensions actuaries
The EDs are: • 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 ... read more >>
-
Update on conflict of interest discussion paper and surveys
Whilst the conflicts of interest working party has had a substantial response to the discussion paper from members (278 responses in total), for which it is very grateful, it has received relatively few responses from users of actuarial services, in spite ... 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 >>
-
Improved online catalogue
The online catalogue, which offers access to 40,000 actuarial books, research papers and articles, now has a 'simple search' and an 'advanced search' option. The initial search page offers a ‘simple search’, where all the search terms that have been ... 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 >>
-
Actuarial working party establishes that bodily injury claims cost on motor policies are rising faster than thought
A report produced by the Actuarial Profession’s third party working party has concluded that overall BI claims inflation is now running at about 30%, considerably higher than previous estimates. The study, which had access to data supplied by companies ... read more >>
-
Pensions pressures bear highest on young people
Saving more will be tough for the young, who are also now facing the pinch prospect of rising tuition fees for their higher education. Personal debt, currently standing at around £1.5 trillion, is likely to rise as students incur greater debts ... read more >>
-
Practical lessons in preparing for Solvency II
The plenary session was opened by Neil Cantle, who applied theories of behavioural enterprise risk management to own risk and solvency assessment (ORSA). ... read more >>
-
Actuaries must be ready for the technical provisions of Solvency II
The speakers said that technical provisions are fundamental to Solvency II, and that actuaries should not underestimate the work involved to meet these requirements. In addition, the importance of gathering the right data in order to calculate the ... read more >>
-
True cost of maritime piracy is still uncertain
The report, which will be unveiled at the Profession’s General Insurance Research Organisation (GIRO) conference in October, will argue that the scarcity of statistics on maritime piracy make the estimation of risk difficult. Neil Hilary, a staff ... read more >>
-
EU gender equality legislation could lead to inequality in provision of insurance products
The warning comes in response to an announcement from Juliane Kokott, Advocate General of the European Court of Justice, who claimed that the practice of setting different insurance rates and pension calculations for men and women could be in violation of ... read more >>