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Life Board update - June 2022

Karen Brolly provides an update.

The Life Board had their last meetings of the sessional year on 14 and 22 June and we had a varied agenda including the following key areas:

  • An update on the Digital Community Platform from Katy Stephenson – this is something that is going to be rolled out for all practice areas and there will be lots more information to follow on this development.
  • An update on the new Practising Certificate Regime from Colin Thores, with a request for assistance in drafting and reviewing case studies for this.
  • A visit from Neil Buckley, representing the Regulation Board, to help ensure we have open lines of communication between our two Boards.
  • A great summary from Scott Eason of the work done so far on Life Climate Change Working Party.

In our update from the Life Standards and Consultations Sub-committee, we talked about the Solvency II review and our planned response to the HMT consultation paper. The Matching Adjustment Working Party has conducted a huge amount of research on the important topic of the Fundamental Spread, and this will feed into the IFoA’s consultation response.

We also looked back on the last year and reflected on the important work that has been done across the various research groups, working parties, learning opportunities and interactions with the regulators and other industry bodies that all operate under the guidance of the Life Board. Preparations have already started for the Life Conference in Liverpool, later this year and if you haven’t already submitted an idea for a talk, the Call for Speakers is open until 13 July.

As this sessional year end also marks the end of my term as Life Board Chair, I’d like to take this opportunity to thank all of the Life Board members and the IFoA team for their support and willingness to get involved in the work of the Board. I am so grateful to have had the opportunity to work with a fantastic group of people throughout my time on the Board and I will now pass the baton of Chair to the very capable hands of Phil Simpson, who I know will do a great job.

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