The Club dines after sessional research events and other selected actuarial events held in Scotland. The usual venue is the Balmoral Hotel in Edinburgh. Its elegant rooms give a fine night-lit view of Princes Street and the Castle. The evening's emphasis is on enjoying good food and company with a minimum of formality.
Toast to the (decimal) Point
The meal is followed by the loyal toast and the club toast to the (decimal) Point, the latter given every year since 1936. There is then a short break for members to re-charge their batteries. On re-assembly the Chair introduces the Institute and Faculty of Actuaries' (IFoA's) guests, usually the authors of papers presented at the sessional events, on a light-hearted 'this is your life' basis, and invites the club to toast their health. One guest is invited to reply.
New members attending their first dinner are next introduced, invited to give a short response (to provide members with a flavour of their background), and duly toasted. Once a year a member is given the honour of proposing the formal Club toast to the Point. There is much wit and ingenuity displayed in varying the theme of the address.
Dinners are drawn to a formal close in time for the Glasgow members to catch the last train to the city that claims it's miles better, while granting that Edinburgh is a capital city! Guests of members are welcome.
Social activities
In addition to the dinners, there is an annual golf outing and an autumn weekend away with partners which includes a choice of a visit to a stately home and gardens, playing golf or hillwalking and of course dining and possibly being pampered in a 5 star luxury hotel.
Reciprocal rights
Members have reciprocal dining rights with the IFoA's Gallio Club, the Faculty (England) Club and the Actuaries' Club (England).
Membership
The annual membership fee remains a modest £15. Dining fees are currently £67.50 which includes pre-dinner drinks, the meal and drinks with and after the meal.
To encourage new members to join and attend, the Club wishes to offer a reduced dining fee for members in their first year of membership which is currently £32.50. A reduction will still apply in the second year of membership with the dining fee currently being £47.50.
Forthcoming events
Meeting dates for 2019 are:
- 21 January 2019
- 25 February 2019
- 25 March 2019
- 24 June 2019
Officers of the Scottish Actuaries’ Club
Chairman: Gordon Wood
Honorary Secretary: Roger Austin
Honorary Treasurer: Bob Gibson
Other Committee Members: Eleanor Jeffrey, Iain McLellan, Kerr Luscombe, John Gill, Amanda Switzer, Chris Young, Claire Yule
Honorary Auditor: Finlay Marshall
Administrator: Clare Anderson. For further information, please contact Clare.
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Events calendar
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Sessional Meeting: Covid-19 and the Effectiveness of ERM Frameworks
Online15 August 2022The purpose of this research paper is to explore enterprise risk management lessons which can be learnt from the Covid-19 pandemic in preparation for potential future pandemics as well as other “gray rhino” or “black swan” events. This paper is not intended to be an all-encompassing solution to the issues presented by Covid-19; rather, the content has been provided to help drive discussions regarding how risk management processes may need to evolve in line with the dynamic nature of the underlying risks that they sometimes need to capture.
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Planning your answers in the online examination format
22 August 2022This webinar will discuss good exam technique, including various approaches candidates can take in managing their time completing their exams in the online format.
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This session is for new candidates and existing candidates where we will be discussing the practical steps you need to take leading up your exam and on the day. We will be discussing how to testing the online exam platform, downloading and uploading your paper and key information from the Exam Handbook.
The exam webinar is for candidates, new to IFoA exams and returning candidates, sitting in the September 2022 exam session.
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Balancing the short – and the long – term: the challenges of being a “sustainable” NED
6 September 2022The role of Non-Executive Directors has become increasingly challenging and critical over the past few years.
Big picture thinking, Governance knowledge, Independent mindset, Ambassador potential and Energy and commitment: these are the essential skills sought in a successful NED, according to the Chartered Governance Institute (UK & Ireland).
In parallel, Environmental, Social and Governance (ESG) criteria are increasingly key and used by investors to measure the sustainability and ethical impact of investing in an organisation.
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Is your ESG offering a misselling risk? This innovative concept can resolve that risk
7 September 2022This webinar will cover:
• Some background on the risks of misselling in an ESG context, including the DWS case
• Achieving positive impact is a strong antidote to the risks of greenwashing or ESG misselling, however this risks having a tension with fiduciary responsibilities
• This tension can be resolved with a concept called Universal Ownership
• Under Universal ownership, investors have an appetite to make a loss in order to achieve positive impact, and yet still have no compromise on their fiduciary responsibilities
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How do CDC pension schemes smooth members' pensions?
23 September 2022In the UK, the idea of collective defined contribution (CDC) pension schemes is gaining more attention with the launch of the Royal Mail CDC scheme, the first of its kind in the UK. Our recent research on CDC plans investigates the sources of the putative benefits of CDC schemes: the smoothing of pensions for members. Using an attribution analysis to burrow into the scheme design, the reason for the smoothing of members' pensions is explained and understood.
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The IFoA's Infrastructure Working Party, led by Chris Lewin, will present its new introductory guide to infrastructure investment, which will be published on the IFoA web-site prior to the webinar. Those readers whose institutions have already taken the plunge into infrastructure will know that it is a highly complex and diverse field of activity. This guide does not explore all the matters which investors take into account, but it does discuss many of the more important points, including the risks and past returns, benchmarking, and ESG and SDG considerations. Attendees will be invi
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Social Care Agenda
11 October 2022Social care reform has long been on the to-do list for successive governments over the last two decades. In February, the government’s proposed reforms to adult social care [including cap on care costs] was published. Against this backdrop of funding promise and rising National Insurance taxation, in this session we will debate the resilience of these new proposals, the impact of future demand for care services and what role for the insurance industry and the important role it has played in long-term care funding in other countries where public-private partnership works.
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Health – Our Greatest Asset
2 November 2022Health contributes to happiness at the personal, family, community and societal level. Health, importantly underpins all our economic security. This talk will explore the drivers of our health, the measurement of health and the steps we can take to improve health – most of which lie outside the NHS.
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GIRO Conference 2022
ACC Liverpool21 November 2022 - 23 November 2022
We are delighted to announce the return of GIRO as an in-person conference, giving you an opportunity to connect with actuaries in your practice area. Join leading experts to discuss key issues, emerging ideas, and new research across the General Insurance sector.
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Life Conference 2022
ACC Liverpool Kings Dock Liverpool Waterfront Liverpool Merseyside L3 4FP23 November 2022 - 25 November 2022
Life Conference returns as an in-person conference in 2022, giving you an opportunity to connect with your peers and fellow actuaries in your sector, in person. You will also hear leading experts discuss key issues, emerging ideas, and new research across the Life insurance sector.
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Mortality and morbidity risk varies by variables such as age, sex and smoking. In traditional actuarial experience analysis, these variables, and certain combinations thereof can be explored. However, with the wealth of data now available it is becoming increasingly challenging to identify the key drivers of experience and account for the interaction between different variables. A univariate approach often compares apples and pears, for example males are more likely to smoke and have larger policies than females. Likewise, variable interactions are missed unless specifically included.
