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The revised Actuaries’ Code came into force on 18 May.
The Actuaries’ Code is the ethical Code of Conduct that applies to all Members of the IFoA and Members should familiarise themselves with the changes.
The Code is designed to support Members in adhering to high standards of professional and personal conduct, while protecting the public interest and assuring trust in the profession.
Changes to the Actuaries’ Code
The Lifelong Learning (Life Practice) Sub-committee is seeking to recruit up to four members to join them, who should be a Fellow or Associate member of the Institute and Faculty of Actuaries (IFoA).
The Institute and Faculty of Actuaries (IFoA) is very happy to announce that its prestigious Quality Assurance Scheme (QAS) accreditation has been awarded to AIA Company Limited (Thailand Actuarial Department), known as AIA Thailand, on 9 May 2019 at the IFoA Asia Conference in Chengdu, China. This is the first time the award has been made to an organisation in Thailand. Find out more about the QAS
In this blog, Andrew Rear, Chair of the Mortality Assumptions in Pensions Working Party, explains what prompted the IFoA Risk Alert on Disclosure of Information relating to models
The Population Health Management Working Party was formed in September 2018. We have circa 20 members including actuaries, academics and health professionals, including international representation, from a wide range of organisations, including insurers, consultancies and the UK’s National Health Service.
The Resource and Environment (R&E) practice area is increasingly important to the IFoA, highlighting relevant issues for traditional actuarial work and giving opportunities for members of the profession to get involved in new areas. Issues around climate change, sustainability and resource constraints will be featured in their webpages. A new landing page has been created which brings together articles written by IFoA Members on these topics.
The Joint Forum on Actuarial Regulation (JFAR) has published its Risk Perspective: 2018 Update.
In the JFAR risk perspective, climate related risks were again highlighted as being of key important to actuaries. JFAR reiterated the nature of the risks that actuaries should now be considering in their work, highlighted some of the recent developments and provided links to a number of useful reference documents.
In this blog, Paul Tynan, a Trainee Consultant at Barnett Waddingham, weighs up two popular routes into an actuarial career: consultancy firm or insurance company.
Students at the IFoA may submit an appeal against an exam result decision. If you are thinking about making an appeal, please be aware of what grounds you can base your appeal on.
When you submit a Stage 1 appeal, the IFoA will make an initial assessment of your application to ensure it meets the appeal threshold for further investigation. You may submit appeals for the following reasons:
1. Irregular procedure or improper conduct of an assessment
Other actuary news
Added: Mon, 20/05/2019 - 16:40Commercial insurance prices increased more in the first three months of this year than in any quarter since 2012, research from insurance broker Marsh has found.
Added: Mon, 20/05/2019 - 16:33The UK's financial services sector could enjoy a £106bn boost by 2030 as a result of technological advancements, changing customer behaviour and demographic shifts.
Added: Wed, 15/05/2019 - 18:00A growing number of UK businesses and consumers are ending their insurance coverage because they can no longer afford it, research from finance company Premium Credit has revealed.
Added: Wed, 15/05/2019 - 16:00Life expectancy assumptions in the UK will be back to the same levels last seen in 2009 by the end of this year, research by professional services firm KPMG has uncovered.
Added: Tue, 14/05/2019 - 16:40Pension fund returns performed strongly in the first quarter of this year but annuity rates declined, research by Moneyfacts UK has found.
Added: Mon, 13/05/2019 - 17:05The first three months of 2019 saw global InsurTech investment surpass $1bn (£0.6bn) for the third consecutive quarter as multiple records were smashed.
Added: Fri, 10/05/2019 - 18:00Insurers face threats from a lack of underwriting discipline, more robust market regulation and scrutiny and consequent exposure of management deficiencies.
Added: Thu, 09/05/2019 - 09:00Regular charity runner Charles Cowling recently completed one of the world's six marathon majors, Tokyo, with son and actuarial student Tom.
Added: Thu, 09/05/2019 - 09:00Congratulations to our most recently accredited organisations, Little & Company, Lux Actuaries & Consultants and AIA Thailand.
Added: Wed, 08/05/2019 - 15:15Global oil and gas firms are not disclosing enough information for investors to weigh up how growing concerns about climate change might affect that company's future production and long-term viability, Carbon Tracker has said.