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Nominations for IFoA Council are closing on 4 May and elections opening to voting members on 20 May.
We asked some current Council members to tell us why this is something every member needs to engage with.
Louise Pryor, President-elect, said “Elections to the Council of the IFoA are taking place shortly. All Fellows and Associates have a vote, but many of us fail to use it. This is a shame, because it’s the main opportunity we have to influence the IFoA’s direction.
The IFoA has appointed Peter Wrench as Lay Convener of the Disciplinary Tribunal Panels, with effect from 1 April 2021.
The Lay Convener of the Disciplinary Tribunal Panels is a key role supporting the IFoA’s regulatory function and facilitates the determination of allegations of misconduct considered under the IFoA disciplinary enforcement processes.
The IFoA working party: Insurers hidden risk from reinsurance recaptures – the perspective of UK annuity writers launched a survey on Monday, 19 April that seeks to explore annuity writers exposure to; and management and mitigation of a reinsurance recapture or similar event that leads to an insurer being required to recognise previously reinsured risk(s). The working party was set-up to contribute to the topic and support market practitioners. The participating of annuity writers in the survey will enhance the usefulness of the working party’s output in due course.
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.