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The CMI has published CMI_2019, an updated version of the Mortality Projections Model, and accompanying Working Paper 129. The new version incorporates recent population mortality data into the Model.
Dig a little, and the regulatory – and perhaps the sensible commercial – answer seem to be that risk management helps organisations make better decisions.
Indeed, it is an often-overlooked part of Solvency II that firms must document their decision-making process as part of their risk management system. [I mentioned this once to a regulator, it was new to them].
We are pleased to announce the launch of our first review, under the Thematic Review Programme initiated in September 2019. The review will look at examples of actuarial advice provided during the review of transfer values and commutation rates for UK private pension schemes.
In autumn 2019 the IFoA Cyber Risk Working Party launched a survey to better understand perceptions around the uncertainty cyber risk has on different areas of actuarial work. The principal aim of the survey was to gather information to help the working party steer its future output, as it continues to provide guidance to IFoA members on cyber risk.
Now that we have collated the results we thought it would be useful to share what came out of the survey and some of the insights it provided.
In this guest blog, Ed Baker, Senior Specialist, Climate Change and Energy Transition at the Principles for Responsible Investment (PRI) explains that in the current climate reporting environment, investors need to act now to manage risk and protect value.
Chris Reynolds, Chair of the IFoA’s Health and Care Practice Board, blogs on discussions at the latest board meeting and invites input from members.
The Health and Care (H&C) Board has just approved its objectives for the new session. One of these is to increase our transparency and engagement with the membership.
In this blog, Christina Cosma of the IFoA’s E-Cigarettes Working Party, discusses the challenges the group has faced when trying to understand the risks posed by E-Cigarettes versus traditional cigarettes.
Booking is now open for the first IFoA Certificate in Data Science, a 10 week online programme running from 30 April this year.
The programme provides an introduction to the concepts, tools and techniques used in data science, and their relevance within an actuarial context. It blends theory and practice, with the use of practical examples and case studies.
The programme is delivered online over eight weeks, with structured support, followed by two weeks to complete the final programme assignment.
Longevity Catalysts Member Interest Group (MIG) event: Who wants to live forever? Can we defy ageing?
Speaker: Dr Aubrey de Grey, Chief Science Officer and Co-founder, SENS Foundation
Date and time: Tuesday 24 March 2020, 18.00 - 19.00, followed by drinks reception kindly sponsored by Fairbank Partners
Venue: Pension Insurance Corporation, 14 Cornhill, London, EC3V 3ND
Exam entry for the April 2020 exams is now closed.
Other actuary news
Added: Mon, 09/03/2020 - 11:13Robeco has topped an international ranking of asset managers for its work incorporating environmental, social and governance (ESG) considerations into its investments.
Added: Wed, 04/03/2020 - 15:50The UK's pension sector faces a critical risk from fraud, and is currently losing upwards of £6bn every year, according to national audit, tax, advisory and risk firm Crowe.
Added: Wed, 04/03/2020 - 14:00The International Accounting Standards Board (IASB) has proposed a series of minor amendments to IFRS 17 to minimise disruption over the implementation period.
Added: Wed, 04/03/2020 - 11:49Mortality rates in England and Wales were 3.8% lower last year than in 2018 on average, which was the largest annual improvement recorded since 2011.
Added: Tue, 03/03/2020 - 17:04Deficits at defined benefit (DB) pension schemes in the UK increased by around £100bn in the final week of February as coronavirus hit global financial markets.
Added: Tue, 25/02/2020 - 11:52Life expectancy has failed to increase in the UK over the last decade for the first time in more than 100 years, and has actually decreased for the poorest 10% of women.
Added: Mon, 24/02/2020 - 15:00There are 70,000 UK homes that are not covered by the government's Flood Re insurance scheme because they were built after 2008 in high-risk flooding zones.
Added: Mon, 24/02/2020 - 12:00The Financial Reporting Council (FRC) has announced a wide-ranging review of how UK companies and auditors assess and report on the impact of climate change.
Added: Thu, 20/02/2020 - 12:01Investors can use demographic trends to predict stock and bond market yields, a study by Copenhagen Business School and Warwick Business School has suggested.
Added: Wed, 19/02/2020 - 14:02The UK government should take steps to protect bank notes and coins to avoid the country becoming a cashless society within the next decade, experts have urged.