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The Actuarial Profession has issued two exposure drafts (EDs) for Actuarial Profession Standards (APSs) for pensions actuaries.
Whilst the conflicts of interest working party has had a substantial response to the discussion paper from members (278 responses in total), for which it is very grateful, it has received relatively few responses from users of actuarial services, in spite of a wide distribution of the paper. Before making final recommendations on the action to be taken, the working party considers it appropriate to make a further attempt to gain a fuller account of the views of users of
Gordon Bagot, leader of the Scottish Board, made his inaugural speech on 18th October 2010.
Ronald Bowie, President of the Institute and Faculty of Actuaries, delivers his address. To view the video of the event or download a transcript, click here. In his address, he said that the Actuarial Profession was at a unique moment in its history and argued for a step change in the pace of the development and growth of the profession.
The Actuarial Profession has now published a new Actuarial Profession Standard G2 (APS G2) on actuarial reporting for Lloyd’s syndicates writing US business. APS G2 is to take effect from 15 December 2010 at which time GN33 will be withdrawn by the Board for Actuarial Standards.
Frequently asked questions (FAQs)
The BAS published a set of answers to FAQs on 21 October 2010 to assist practitioners in complying with BAS standards.
As actuaries continue to prepare for the challenges of Solvency II and the increased emphasis on the efficient use of capital, a workshop at the Actuarial Profession’s life conference, which took place in Birmingham from 7 to 9 November 2010, examined the potential use of contingent capital in a post Solvency II world.
The creation of the Institute and Faculty of Actuaries has presented our profession with a once in a generation opportunity to establish our body as a benchmark for member support, public confidence and reputation.
At a workshop at the Actuarial Profession’s life conference taking place from 7-9 November 2010 in Birmingham, actuaries from Hannover Life Re (UK) explained that medical advances mean that life cover is being offered to people who are HIV+ in the UK and who meet certain criteria.
Ronnie Bowie, President of the Institute and Faculty of Actuaries, looks to the challenges and opportunities for the actuarial profession of the future.