Latest IFoA news
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Health and Care Board seeking new members
20 June 2018
The Institute and Faculty of Actuaries (IFoA)'s is seeking to appoint up to four experienced, proactive and innovative volunteers to join the Health and Care Board.
These volunteers will ideally already have a good industry profile and an excellent network of contacts. They will be someone who is keen to build on the excellent foundations already created and have a passion to help shape and drive forward the Health and Care practice area for the future.
Opportunity to volunteer on Life Lifelong Learning Sub-committee
20 June 2018
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 sub-committee oversees the Life Conference Sub-committee and runs up to eight one day workshops annually, alongside up to six evening CPD and Networking events. Sub-committee members will be expected to lead on the development of the programme of one or more of these annual events.
Update from the Matching Adjustment Working Party
20 June 2018
The significance of the Matching Adjustment (MA) for annuity writers is well understood – with David Rule recently confirming the value to UK firms to be £66bn. With strong growth forecast in the bulk annuity de-risking market, this figure will get bigger and bigger.
Working party looks at LPI
20 June 2018
This new working party of the IfoA’s Financial and Investment practice area held its first meeting recently, having attracted interest from over twenty members from across the industry (consultants, asset managers and insurers).
What is LPI?
Finance & Investment LinkedIN group
20 June 2018
Join the LinkedIN group to keep abreast of latest Finance and Investment news and activities. Debate and discuss finance and Investment related issues.
How should you follow up after an interview?
19 June 2018
In this blog, Chloe Hung, Amazon best-selling author, gives advice on step to take following an interview.
Now that you are finished with your interview, you may be feeling excited to hear back from your interviewers because you’ve done all the necessary preparations and you’ve given your best shot during the interview. But patience is key here because you don’t want to annoy your future employers by sending them never-ending follow up emails.
Department of Work and Pensions Consultation
18 June 2018
The Department of Work and Pensions (DWP) have launched a consultation on changes to regulations for pension fund trustees.
The consultation features a climate risk maturity model from consultancy Grant Thornton, as well as input from selected individuals and institutions – in particular Sackers, Hermes and Nico Aspinall. A key driver for the consultation, is the conclusions the DWP have reached:
Explanation of ESG Investment Terminology
18 June 2018
In January 2018, the IFoA’s ESG Investment Working Party published its Thoughts on Terminology to use when seeking to engage actuaries on topics related to environmental, social and governance (ESG) issues in investment. Further to this, the working party has now published a guide to help IFoA staff and volunteers use ESG termionolgy appropriately (see table below). Note that the definitions given below reflect typical usage in 2018, but the definitions are evolving and there is not yet universal agreement.
Survey Reveals Institutional Investors Are Split on Responsible Investing
18 June 2018
The Actuarial Post has published an article, reporting on a survey recently carried out by Aon, which says that regulatory changes, demographic shifts and the increased availability of quality data has prompted a dramatic upsurge in the number of institutional investors who are interested in exploring or implementing responsible investing initiatives.
Have You Read the IFoA Risk Alert on Climate-Related Risks?
18 June 2018
On 12 May 2017, the IFoA published a risk alert on climate-related risks. Actuaries should ensure that they understand, and are clear in communicating, the extent to which they have taken account of climate-related risks in any relevant decisions, calculations or advice.
Make sure you keep up-to-date on this, and other important issues, by keeping an eye on our Risk Outlook page.
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Other actuary news
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FTSE 350 firms look likely to miss 2020 targets for women on boards
Added: Wed, 27/06/2018 - 18:30FTSE 350 companies will need to give around 40% of all new leadership roles to women over the next two years if they are to meet targets for female representation on boards by 2020. -
MPs back social care tax for over-40s
Added: Wed, 27/06/2018 - 13:26Adults aged 40 and over should pay a new tax to help fund the unsustainable costs of social care in the UK, two House of Commons select committees have said today. -
Solvency II deterring long-term investments
Added: Tue, 26/06/2018 - 18:20Almost half of European insurers think Solvency II has restricted their ability to make long-term investments, with many worried the regulation has negatively impacted their products. -
Majority of company board members want more cyber security spending
Added: Mon, 25/06/2018 - 14:33The overwhelming majority of company board members across the world believe their firms should spend more money on cyber security, new research has found. -
Trade credit insurance claims hit nine-year high
Added: Fri, 22/06/2018 - 18:18There were more insurance claims made across England and Wales to cover the non-payment of debts in the first quarter of this year than at any time since 2009. -
Older workers most at risk to automation
Added: Fri, 22/06/2018 - 15:40Almost a quarter of the jobs held by workers aged 55 and over in the UK could be displaced by automation technology over the next decade, new research has found. -
Data identified as saving opportunity as workforce health costs rocket
Added: Thu, 21/06/2018 - 18:37Harnessing the power of data analytics could help insurers make significant cuts to the rising cost of workforce healthcare benefit programmes around the world. -
Majority of top insurance companies to rely on acquisitions for growth
Added: Thu, 21/06/2018 - 16:35Eight in ten insurance executives across the world will look to acquisitions and partnerships in search of growth over the next three years, a new survey has found. -
Almost half the global reinsurance market divests from coal
Added: Wed, 20/06/2018 - 18:05Nearly half of the global reinsurance market has now divested some or all of its assets from coal, after Hannover Re revealed it had adopted a new exclusion policy today. -
Tens of millions of insurance and pension contracts at risk post-Brexit
Added: Wed, 20/06/2018 - 12:30Europeans face a looming crisis that could see their personal finances wiped out should the EU and UK not come to an agreement on cross-border contracts post-Brexit.