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John Taylor – Immediate Past President
Since the start of 2020 the IFoA has been exploring an ongoing trend to transfer risks from institutions – such as employers, the state, and financial services providers – to individuals.
We termed this the ‘Great Risk Transfer’ and we believe it poses one of the most significant yet little understood social, financial, and political challenges of our time.
It’s been over a year since Covid-19 pandemic brought the world to a standstill and caused major disruption in the global economy. The Institute and Faculty of Actuaries Private Credit for Insurers Working Party is conducting a survey with insurers who have been investing in Commercial Real Estate (CRE) and infrastructure debt to get a broad view of the impact Covid-19 pandemic on those markets.
The survey is addressed to professionals originating and/or managing CRE and infrastructure debt assets for insurers.
Nominations to stand for election to join the IFoA’s Council are now open.
The annual Council election is your chance to play a truly leading role in the development of the actuarial profession.
The IFoA has a bold new strategy, a new focus on improving our offer and new values that put our members at the heart of everything we do. Our goal is to support, develop and be the voice of our members, and to make this ambition a reality, we need a diverse range of leaders who are able to provide strong stewardship, high quality thinking, time and a commitment to excellence.
During the coronavirus pandemic, the Continuous Mortality Investigation (CMI) is publishing frequent UK mortality analysis through its mortality monitor. The latest update covers week 13 of 2021 (27 March to 2 April) based on provisional England & Wales deaths data published by the Office for National Statistics (ONS) on 13 April 2021.
The key points of this update are:
The Institute and Faculty of Actuaries has today launched a consultation on proposals for changes to its Practising Certificates (PC) requirements.
This includes changes to the approach to determining suitability for a PC (including the type of criteria used) as well as changes to the process for applying and renewing.
The IFoA has today commenced a Member vote on proposed changes to our Disciplinary and Capacity for Membership Schemes (the Scheme). These changes, which have been approved by our Council, must now be approved by a simple majority of the IFoA's members in order to be formally adopted.
Associates, Fellows, and Honorary Fellows of the IFoA are eligible to vote on these proposals. Each eligible member will receive an email from Civica Election Services containing a unique link to the voting website.
Melissa Leitner provides an update on the latest Sustainability Board activities.
Engagement is the word I'd choose to pull a common thread through the key agenda items of the latest meeting of the IFoA Sustainability Board on 16 March 2021.
Engagement within the Board(s)
Louise Pryor, President-Elect asks you to take part.
The UK Department for Business, Energy and Industrial Strategy (BEIS) has published its long-awaited White Paper on reform of audit and corporate governance. Within this, it also sets out important proposals for the future of UK actuarial regulation.