News
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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 >>
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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 >>
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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 >>
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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 >>
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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 >>
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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 >>
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Life cover for people living with HIV
Successful advances in new treatments have changed the survival curve of HIV positive people. Recent studies show that a group of HIV+ lives who respond well to the latest HAART (Highly Active Anti-Retroviral Therapy) are now considered an insurable ... read more >>
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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 >>
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A new approach towards emerging risk for life assurance
Mr Cantle suggested that the current approaches only work for risks which are already predicted but are weak at capturing emerging risks early in their development. The approach of Mr Cantle and his colleagues looks at how underlying risk factors are ... read more >>
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Video: Ronnie Bowie on the challenges and opportunities for the profession
Ronnie Bowie, President of the Institute and Faculty of Actuaries, looks to the challenges and opportunities for the actuarial profession of the future. The video can be viewed here. ... read more >>
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The Actuarial Profession establishes publishing partnership with Cambridge University Press
The Annals of Actuarial Science is a peer-reviewed journal which has been publishing research papers in all areas of actuarial science since 2006. The journal welcomes papers in any area of actuarial science or practice, especially papers that are applied ... read more >>
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The next generation of actuaries visit Staple Inn
The boys both have A* A level mathematics and both want to be actuaries. Last month, they spent a day with Ronnie and his colleagues at Hymans Robertson as they learned the actuarial ropes while being filmed for a Channel 4 documentary being shown this ... read more >>
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A warm welcome for new Fellows of the Institute and Faculty of Actuaries
The New Fellows ceremonies took place at Staple Inn Hall in London and were a truly international event with new Fellows from Switzerland, Ireland, Poland and South Africa taking part in the ceremonies. The road to Fellowship is long and arduous with ... read more >>
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Seizing the opportunity: the 2010 Presidential address, 19 November 2010
In his address, Ronnie Bowie, President of the Institute and Faculty of Actuaries, will set out his vision of how the Profession can achieve these goals. The event takes place at 15.30 on Friday 19 November 2010 at Staple Inn Hall. For more information, or ... read more >>
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Waiting list for practical exams CT9, CA2 and CA3
Students will need to complete the waiting list application form indicating their preferences for time and location, though we can not guarantee to meet these. Important points to note: ... read more >>
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Profession consults on practising certificate regime
The recommendations are being made by the practising certificate regime working party established by the Professional Regulation Executive Committee (PREC) to carry out a review of the current regime of practising certificates for reserved roles. The ... read more >>
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Actuarial Profession launches new CERA website
Aimed at those who already hold the qualification, actuaries and students with an interest in the qualification and employers and actuarial associations who are not currently part of the CERA treaty, the website will be a key tool in promoting the work of ... read more >>
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Car insurance price rises “unsurprising” say actuaries.
In July 2010, the working party issued interim findings of a report into the costs of third party claims, findings which did not look positive for the insurance industry. David Brown, chair of the working party, said: "The number of claims involving a ... read more >>
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Actuarial Profession calls for transparency and a rational approach to public sector pensions debate
Mr Bowie said: “The Profession welcomes his objective and reasoned approach, his rebuke of ‘simple, sloganistic approaches’ and his willingness to provide a set of general principles to shape the next stage of the Commission's work. ... read more >>