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In the seventh of our series on the work of the IFoA’s volunteer-led Practice Boards, Dick Rae, Chair of the IFoA’s Finance and Investment Board, looks at how the Board are honing their outputs to reach and help members working in this area.
Update to Members on the new AMS Thematic Review Programme
The IFoA has launched its Actuarial Monitoring Scheme (AMS) with the announcement of two thematic reviews.
The Institute and Faculty of Actuaries (IFoA) has confirmed the election of Sir Steve Webb and Dr David Bellhouse as Honorary Fellows.
Both Sir Steve and Dr Bellhouse were nominated by the IFoA’s Council. Their election was confirmed by an online members’ vote conducted over the summer.
On Friday 13th September, the IFoA’s Board of Examiners issued their final outcomes on breaches of Assessment Regulations during the April 2019 examinations; on Tuesday 17th September, the IFoA issued a further update to the original notification, confirming that details, including the appeals process for breaches of Assessment Regulations cases, would be avai
This week we’re proud to announce the launch of an innovative, pensions-focused research paper from the Actuarial Research Centre (ARC), the Canadian Institute of Actuaries (CIA) and the Society of Actuaries (SOA).
The climate-related risk alert issued in May 2017 by the IFoA stated that “actuaries should ensure that they understand, and are clear in communicating, the extent to which they have taken account of climate-related risks in any relevant decisions, calculations or advice”. Building on this, the IFoA have recently released a practical guide to climate change relating to general insurance work. Containing practical advice into how climate risks may impact the work of GI practitioners, the guide aims to assist actuaries in developing judgements and providing appropriate advice.
The ABR working party’s report and associated models are now published.
Cases have been reviewed and sanctions have included a suspension from sitting the profession’s assessments for a period of up to 2 years.
If you are a current, or recent, holder of a Scheme Actuary Practising Certificate please consider volunteering to in the Practising Certificates Committee (PCC).
Other actuary news
Added: Thu, 19/09/2019 - 13:30Around 1.3 million British citizens living in the EU could see their pensions, healthcare and insurance put at risk by a no-deal Brexit, the deVere Group has claimed.
Added: Wed, 18/09/2019 - 15:47None of the world's top oil and gas companies are aligned with the Paris Agreement's ambition to limit global warming to 2C above pre-industrial levels.
Added: Tue, 17/09/2019 - 16:00Less than half of financial services firms are confident about transitioning away from the London Interbank Offered Rate (LIBOR) by the end of 2021, a global survey has uncovered.
Added: Mon, 16/09/2019 - 14:48Europe's largest insurance companies have urged the International Accounting Standards Board (IASB) to publish further amendments to IFRS 17.
Added: Thu, 12/09/2019 - 13:33Half of defined contribution (DC) pension schemes in the UK plan to include or continue an environment, social and governance (ESG) focus in their default investment strategy.
Added: Wed, 11/09/2019 - 16:45Insurance technology firms attracted $3bn (£2.4bn) of investment in the first half of 2019 worldwide, and are forecast to receive a record $6bn by the end of the year.
Added: Wed, 11/09/2019 - 13:05British adults aged 60 and over could be missing out on nearly £2bn in retirement savings by opting out of workplace pensions early, a new study has found.
Added: Tue, 10/09/2019 - 13:43The majority of UK workers think pensions are confusing and don't know how much to save, according to a new study, with much of the blame levelled at employers.
Added: Mon, 09/09/2019 - 15:30Global temperature change is the number one extreme risk to economic growth and asset returns for investors, a new ranking by the Thinking Ahead Institute has suggested.
Added: Mon, 09/09/2019 - 13:50Total capital dedicated to the global reinsurance industry has risen by 8% since the end of last year thanks to strong investment markets, data from Willis Re has revealed.