We will be heard on relevant matters and promote actuarial science and the value it brings to business and society.
PPAB plays a crucial governance role by:
Strategy
- to support the strategic development of the IFoA’s public affairs and policy agenda.
- to assess activity against the IFoA’s public affairs strategy and provide direction accordingly.
Planning and oversight
- to approve an annual public affairs and policy plan and monitor progress
- to have oversight of the IFoA’s public affairs and policy outputs, including, but not limited to:
- media releases
- communications to key stakeholders
- consultation responses
- policy briefings and position statements.
Support
- to support the development of an evidence-based approach
- to support the delivery of an integrated public affairs programme by representing the IFoA with key partner stakeholder groups.
Governance
- for those PPAB members representing the key policy priorities they will be recruited through the volunteer vacancy process and their tenure will be in line with the Governance Manual.
Membership of the PPAB
Executive Support: Public Affairs Executive
The Board shall comprise no fewer than nine and no greater than twelve members:
- Chair
- The Presidential team (President, Immediate Past President and President-elect)
- Chair of Regulation Board
- At least two and no more than five additional members (of which up to two may be lay members)
- IFoA Director of Public Affairs and Research
- IFoA CEO
Members are as follows:
- Jules Constantinou, Immediate Past President
- John Taylor, President
- Tan Suee Chieh, President Elect
- Rt. Hon David Heath (Chair)
- Stephen Mann
- Annette Spencer
- Neil Buckly, Chair of Regulation Board
- Kartina Thomson
- Hilary Salt
- Charles Cowling
All vacancies arising on Boards and their sub committees are advertised on our volunteer vacancies web page. Further information for volunteers, including tips on how to chair a meeting, can be found in the Volunteer Information Pack.
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Events calendar
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ARC Webinar Series 2021 - Use of Primary Health Care Records Data in Actuarial Research
Webinar9 March 2021As part of the ARC Webinar Series 2021, this webinar will review the work of the UEA/Aviva research team over the last four years on a major research programme funded by the IFoA’s Actuarial Research Centre.
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Implications of Climate Change for Life Insurer's Risk Modelling and Strategic Asset Allocation
12 March 2021Climate change poses a significant threat across many regions and sectors, and businesses. Insurers and asset managers, must play a role in ensuring transparency around climate related risks and opportunities.
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Whilst insurers have been performing stress and scenario testing for many years, in the last 12 months the PRA has increased its focus on the ability to identify, measure and increase financial and operational resilience.
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Finance in the Public Interest Series
16 March 2021 - 23 March 2021There is widening debate that many of our social, financial and regulatory institutions need to be rethought so that we can create more sustainable futures, particularly in light of the Covid-19 pandemic, the policy/macro-economic response to the pandemic and how it affects consumers, as well as the impending climate crisis. This multi-day series of three keynote webinars, individually presented by leading economist John Kay, Sir Paul Collier, Professor of Economics and Public Policy at the Blavatnik School of Government, Ashok Gupta, Chair at Mercer Ltd, and Nico Aspinall, Chief Investment Officer at B&CE, will open up discussion on these essential topics. The series will culminate in a panel session with Chief Economist of the Bank of England, Andy Haldane.
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The price is righter
16 March 2021This webinar provides an overview of the state of the UK protection market, and how different insurers are using different levels of sophistication to price (such as using customer demand models). It considers how insurers have implemented these sophisticated pricing techniques, and the practical challenges they have faced.
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This discussion will revolve around the latest industry developments including and introduction to Part VII transfers and Schemes of Arrangement (process, parties involved and recent events), insights and lessons from recent with-profits transactions and restructurings (including Equitable Life and Pru-Rothesay), how firms can apply these learnings to future arrangements, and the outlook for future with-profits transactions and restructurings (including the impacts of Covid-19 and Brexit)
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The role of stewardship in creating long term value
25 March 2021What is stewardship and how has the landscape changed under the 2020 UK Stewardship Code? How does effective stewardship create long term value for beneficiaries and what roles do asset owners and asset managers play in active stewardship. This webinar will offer answers to these questions in a practical approach to stewardship reporting.
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Dr Catherine Donnelly will present the basics of the structures for pooling longevity risks and summarise recent research results in this area in addition to outlinging future research around this topic. This is work under a research programme funded by the IFoA's Actuarial Research Centre, called 'Minimizing longevity and investment risk while optimising future pension plans'.
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Mis-estimation risk is a key element of demographic risk, and past work has focused on mis-estimation risk on a run-off basis. However, this does not meet the requirements of regulatory regimes like Solvency II, which demands that capital requirements are set through the prism of a finite horizon like one year. This paper presents a value-at-risk approach to mis-estimation risk suitable for Solvency II work.