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With-profits regulations are lengthy, but the guiding principles can be paraphrased simply: run the fund well by securing good investment returns to provide fair, smoothed long-term returns for each generation of policyholders. A climate warming pathway will have severe macro-economic implications – interest rates, inflation, growth and so on are likely to be impacted. This in turn impacts the key assumptions that actuaries use to manage with-profits funds. If your investment portfolios do not yet include consideration of climate factors, could you be taking risks you do not understand?
The Canadian Institute of Actuaries have released a statement outlining how quantifying and disclosing the financial impacts of climate change is an important way to help achieve global climate goals. The statement calls for the government to prioritise data collection and implement policies that accelerate climate-risk financial reporting. The report also encourages business leaders and investors to account for climate-related factors in investment decisions.
In this blog, the IFoA’s Stephen Hyams talks about a new report designed to help people understand how their level of pensions savings will impact lifestyles in later life.
We want you to share your views in our 2019 Member Survey.
Lee Faulkner, our Council Member Value Proposition lead, explains how your views have already made an impact on your professional body and how you can continue to make your voice heard.
To make sure your professional body is delivering the support that you need to succeed in your career, whatever your career stage and wherever in the world you are, we need to hear from you.
Given that Cash flow Driven Investment strategy has attracted growing interests from pension funds and insurers at the backdrop of current market conditions and clients’ circumstances, the objective of this event is to gather thought leaders from asset managers, banks and insurers to offer attendees their perspectives and insights on main aspects of consideration when adopting this strategy. There will be Q&A opportunities to explore certain areas of interest in depth.
Event to be held on 4 December 2019, at Staple Inn, High Holborn.
In this blog, Sabrina Rochemont of the IFoA’s Cashless Society Working Party discusses why, as cash reduces, a digitally-based financial inclusion programme will be vital.
Throughout September and October members of the IFoA executive team have attended the Labour, Conservative, Liberal Democrat and Scottish National Party conferences - representing the actuarial profession in a whirlwind of networking events and panel discussions with businesses, think tanks, politicians and Government and opposition ministers.
Cyber attacks remain active throughout the third quarter of 2019, with data breaches being the flavour of the quarter.
An outsider has gained unauthorised access to Captital One, a top 10 bank in the US, leading to a breach that potentially affects 100 million people in the US and another 6 million people in Canada. Similarly, approximately 4.9 million user accounts of DoorDash, the Palo Alto on-demand food delivery technology unicorn, were breached this quarter.
Congratulations to Michael Tripp who won the GI Outstanding Achievement Award, an award given for their contribution to the Profession.
Michael is currently a member of IFOA council, former Chair of GI Board, former Chair of MAID workstream and instrumental to establishment and successful execution of MAID, key sponsor of GI research reform/restructure, member of various working parties over period of time.
In this blog, IFoA Public Affairs Manager, Mike Williams, assesses the Queen’s speech and its relevance to the IFoA’s policy priorities.
Other actuary news
Added: Wed, 06/11/2019 - 11:30The insurance-linked securities (ILS) market has enjoyed significant growth this year, with non-life capacity issued or outstanding at a near-record high, research by Willis Re has uncovered.
Added: Tue, 05/11/2019 - 14:40Financial institutions will save $7bn (£5.43bn) by 2024 thanks to blockchain technology and the automation of customer checks, a market research firm has found.
Added: Mon, 04/11/2019 - 14:11The UK government has refused to commit to a timetable for making state pension data available through online dashboards, a cross-party group of MPs has revealed.
Added: Fri, 01/11/2019 - 16:00Life expectancy improvements in England and Wales have been among the worst recorded in high-income countries since 2011, a new academic study has uncovered.
Added: Wed, 30/10/2019 - 16:00Assets managed in environmental, social and governance (ESG) mandates rose by almost a quarter last year, despite overall assets under management falling.
Added: Wed, 30/10/2019 - 15:40UK savers must set aside a quarter of their earnings if they want to look forward to a 'moderate' level of retirement income, the Institute and Faculty of Actuaries (IFoA) has said today.
Added: Wed, 30/10/2019 - 11:07England and Wales recorded substantially less deaths in the first three quarters of this year than they did over the same period in 2018, the Continuous Mortality Investigation (CMI) has revealed.
Added: Mon, 28/10/2019 - 17:10The UK government should pay public money into the pensions of women who take time out of work to care for family members, the Social Market Foundation (SMF) has said today.
Added: Fri, 25/10/2019 - 17:28There has been a surge in pension fund trustees engaging with environmental, social and governance (ESG) issues in the UK, research from KPMG has uncovered.
Added: Fri, 25/10/2019 - 12:43Automatic enrolment has seen a huge rise in the number of young people saving into a workplace pension in the UK, analysis by the Pensions Regulator (TPR) has uncovered.