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Scotland’s leaders have much to learn from our history, says leading mathematician
25 November 2009
Sir Michael said: "The Scottish Enlightenment wasn't a one-off event, its cultural, social and intellectual legacy still resonates today and there are still vital lessons Scottish society can learn. I would argue that the most important lesson is the sharing of knowledge. One of the key characteristics of the Scottish Enlightenment was how scientist debated with economist, how artist worked with physician and how philosopher and lawyer shared the common goal of the pursuit of knowledge. For Scotland to succeed in the 21st century, we need this spirit once again."
Hyderabad Treaty launches new risk management credential globally
19 November 2009
The launch was marked by Ronnie Bowie, President of the Faculty of Actuaries, and Nigel Masters, President of the Institute of Actuaries, signing a multilateral treaty in Hyderabad, India, during meetings of the International Actuarial Association (IAA). The treaty was signed by 14 IAA member associations based in 12 countries around the world, including many of the major world economies.
Implications of an ageing population need to be understood
19 October 2009
This is the argument Professor Kaare Christensen will be presenting to an international conference on mortality and longevity in Edinburgh, 21 - 22 October 2009 hosted by the Actuarial Profession.
European actuaries make proposals for Solvency II professional standards
14 October 2009
The vast majority of those who will carry out the actuarial function under Solvency II will be qualified actuaries and members of the professional actuarial bodies which make up the Groupe. The Groupe proposes that there should be two main categories of standards: 1) public interest standards and 2) technical standards. Public interest standards would include qualification standards, ethical standards, governance standards and communication standards. Technical standards would include interpretative standards and technical implementation standards.
New code of conduct for actuaries launched
1 October 2009
The code has five key principles:
The lure of fool's gold, the madness of crowds and poor regulation helped lead to recession
8 September 2009
In their discussion, Ronnie Bowie, President of the Faculty of Actuaries, Nigel Masters, President of the Institute of Actuaries and Paul Sweeting, Professor of Actuarial Science at the University of Kent examined the factors which led to the current global financial crisis and also considered the future business landscape when we come out of recession.
Record number of actuaries qualify
20 August 2009
Dr Trevor Watkins, the Actuarial Profession's Head of Learning welcomed the news as a sign that the profession was buoyant. He said:
Full results of the merger ballot between the Faculty of Actuaries and the Institute of Actuaries
23 July 2009
The vote of each organisation took place at separate special general meetings on 23 July 2009: the Faculty at the Royal College of Physicians in Edinburgh and the Institute at Staple Inn Hall in London.
Full results from Faculty Special General Meeting of 29 June 2009
30 June 2009
The Faculty Council had recommended members to vote against the resolutions. Of the 1553 members of the Faculty eligible to vote, 213 participated in the vote with 53 of them attending the SGM.
The results of the voting are below, as are the full texts of the resolutions.
Resolution 1
For: 65 of which 46 were proxy votes and 19 were votes in person.
Against: 143 of which 109 were proxy votes and 34 were votes in person.
Abstained: 5, all proxy votes.
Resolution 2
Actuarial Profession produces new mortality model to project increases in life expectancy
19 June 2009
The assumptions on future rates of mortality are important in valuing the liabilities of pension schemes and life insurance companies.