This year, in the light of our global expansion, our focus on delivering value to members and the UK’s decision to leave the European Union, the Institute and Faculty of Actuaries (IFoA) has reviewed its membership of the Actuarial Association of Europe (AAE). After many fruitful discussions with the AAE Board, we can now confirm that the IFoA will remain a full member of the AAE.
As part of our joint discussions, the IFoA’s financial contribution was reconsidered. The AAE is now applying a 25% cap on subscription fees for any member association.
At October’s Annual General Meeting, AAE members voted unanimously on the IFoA’s continued membership and the revised fee arrangement
Grahame Stott, Chair of IFoA’s Management Board, said:
“We are delighted to have reached this joint agreement with the AAE. The IFoA is proud to be a founding member of the AAE and can attest to the value the AAE brings to all associations and members across Europe.
“In my dealings with the AAE, I have seen first-hand the crucial role it plays as a leading source of actuarial advice and counsel in Europe. It is through this collective voice that the profession is able to effect change, share ideas and advance actuarial science across the continent and beyond.
“Our focus will continue to be centered on our ongoing commitment to the promotion and collaboration of thought leadership and research.”
Stephen Mann, CEO, IFoA, said:
“The European actuarial community is strong and brings real value to the progress of the profession. Our engagement with AAE has been very constructive and warm and bodes well for the future. This agreement means the IFOA can continue to support, contribute and play our part in promoting actuarial science alongside our counterparts across the continent.”