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If you are a Fellow or Associate of the IFoA and want to make your mark on the global actuarial profession, you should consider applying to join our Council. As a member of Council you will help to set the strategic direction of the IFoA and deliver the IFoA’s public interest objective. Becoming a Council member offers a valuable opportunity to develop your skills, experience and networks and to bring your unique insight and knowledge to shape the future of the actuarial profession.
Who can stand for election to Council?
The webinars will focus on key elements of the revised Actuaries’ Code and the IFoA Disciplinary process and there will be a selection of video and illustrated case studies to bring the discussion to life. You can also put questions via a live feed to our panel of experts and join in the debate wherever you are located.
Grahame Stott, Fellow of the IFoA and Chair of the IFoA’s Management Board, talks about his work experiences.
Q: Grahame, you describe yourself as a “businessman who happens to be an actuary”, why do you think that description fits you best?
The Institute and Faculty of Actuaries’ (IFoA’s) Life Research Sub-committee is seeking to recruit up to two new members, who could be Fellows or Associates or academics with expertise in actuarial, life insurance or related fields, to volunteer to join this sub-committee to help drive the development of actuarial practice in the Life area. The Life Research Sub-committee oversees between 14 and 20 working parties undertaking resear
Mercer has published the sequel to its widely-cited 2015 “Investing in a time of climate change” report. The report models three climate change scenarios, a 2°C, 3°C and 4°C average warming increase on preindustrial levels, over three timeframes - 2030, 2050 and 2100. It assesses the effects of both climate-related physical damages (physical risks) and the transition to a low-carbon economy (transition risks) on investment return expectations.
The Health and Care Research Sub-committee launched a member-led working party in 2018 to research mortality and morbidity of diabetes to understand how risk factors and good management of this conditions can impact outcomes.
We are delighted to announce that the 2019 Hachemeister Prize has been awarded to the IFoA/CAS International Reinsurance Pricing Working Party (representatives from working party in right image), for their paper 'Analysing the Disconnect Between the Reinsurance Submission and Global Underwriters' Needs'.
The cyber attack of this quarter is Lockergoga. It is a ransomware targeting industrial firms. Norsk Hydro, a Norwegian aluminium producer, with initial estimates of losses at $41m due cost of lost production. Norsk Hydro has a cyber insurance policy with AIG as lead.
Nonetheless, claiming from cyber insurance policy is not straightforward. Earlier in the quarter, news broke out that Mondelez, the US food company, more popularly known for one of its brand Oreo, is suing Zurich $100m for refusing to pay out for the NotPetya cyber attack in 2017.
Other actuary news
Added: Tue, 07/05/2019 - 17:00Oil companies will not remain attractive investments unless they adopt business models that support the climate goals of the Paris Agreement, a survey of 39 fund managers with $10trn (£7.8trn) of assets under management has found.
Added: Wed, 01/05/2019 - 16:30Retired people's reliance on state benefits is at highest level in decades, pensions administrator Equitini has said.
Added: Wed, 01/05/2019 - 16:00A record number of people used the new freedoms to take part of their pension in cash in 2018-19, but pensions firm Aegon has said this was with some caution as lower average amounts were withdrawn.
Added: Wed, 01/05/2019 - 14:45Venture capital investment dropped in the first quarter of this year from record heights in the last quarter of 2018.
Added: Wed, 01/05/2019 - 12:40Half of motorists think it should be unlawful for insurers to charge existing customers more than new customers for the same cover.