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The Institute and Faculty of Actuaries E-Cigarettes working party was established in 2016 with the objective of investigating the impact of e-cigarettes on the life insurance industry. The group is a multi-disciplined team of insurance professionals including actuaries, underwriters and claims personnel who have a broad range of experience across a number of sectors.
The Life Board is seeking to appoint a Deputy Chair.
This volunteer will be a Fellow or Associate of the IFoA who is keen to build on the excellent foundations already created. They should also have a desire to help shape and drive forward the Life practice area for the future.
The IFoA is currently recruiting up to four experienced, proactive and innovative members to volunteer on the Health and Care Board.
These volunteers will ideally already have a good industry profile and an excellent network of contacts. They will be people who are 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.
The closing date for volunteers is 19 June 2018.
The IFoA Life Board recently launched three new IFRS 17 Working Parties. They are focussed on the following:
- IFRS 17: Contractual Service Margin (CSM)
- IFRS 17: Future of Discounting
- IFRS 17: Transversal
We are currently recruiting for members to volunteer to join the Working Parties. The closing date is 20 June 2018.
The Running Off Mature Schemes Working Party has now published its paper. It covers the many issues faced by mature defined benefit pension schemes and how they might tackle them. It also sets out a framework for managing their run-off as they move through the various stages of maturity. Many 1000's of UK schemes are either already mature or will be in the near term - how they are run off will impact the security of their members' benefits and the funding of those schemes by sponsor employers.
In this blog, Chloe Hung, Amazon best-selling author, gives advice on how to plan and structure your actuarial career.
Having a solid actuarial career plan is important in increasing your chances at landing your first full time actuarial job after graduation. Plus, planning for your actuarial career gives you a better idea of where you want to go and what you want to do once you step into the working world.
This addendum to the “Cashless society- Benefits, Risks and Issues interim paper” aims to complete the chronicle of international events for the topic in 2017, highlighting key developments from August to December 2017.
All eyes were on Asia. The sheer scale of mobile and Internet payments in China and their integration within social networks call for reflection on the global potential for growth.
The Pensions Board has developed a strategy for its engagement on defined contribution pensions. The paper sets out those areas where the Pension Board believes the IFoA can make a valuable contribution to policy, regulatory and industry developments. The Board will do this by working with our members to develop our evidence base and by engaging with stakeholders.
In this blog, Chloe Hung, Amazon best-selling author, gives advice and guidance on 5 steps in creating your own effective study plan.
Do you know that your actuarial exam success is largely determined by how effective your study plan is? How many of you actually spend time crafting an exam study plan that will help you boost your efficiency and productivity?
Following a substantive review and public consultation the IFoA has published changes to the Actuaries’ Code.
The changes to the Code reflect the ongoing growth and diversification of our membership and aim to make the Code clearer, more concise and ensure that it remains relevant to all members.
The revised Code will come into force on 18 May 2019. Until then, the existing Code will continue to apply.
Other actuary news
Added: Fri, 18/05/2018 - 17:21The Institute and Faculty of Actuaries (IFoA) has today published changes to its code of conduct for members following a substantive review and public consultation.
Added: Fri, 18/05/2018 - 12:23The amount of money that UK pensioners will need to save for a comfortable retirement has grown by three-quarters in real terms since 2002, a new study has found.
Added: Thu, 17/05/2018 - 11:29There are just a few jurisdictions in the EU where fines imposed under incoming General Data Protection Regulation (GDPR) can be covered by insurance, with Finland and Norway the only definite exceptions.
Added: Thu, 17/05/2018 - 11:20A new generational contract is required to tackle the biggest challenges facing the UK, with sweeping reforms needed to the housing market and how the NHS is funded.
Added: Wed, 16/05/2018 - 15:52Insurers are increasingly unable to find the right staff, with just one-quarter of workers in the sector prepared to use artificial intelligence (AI) systems.
Added: Wed, 16/05/2018 - 15:35Nearly one-third of UK insurance brokers admit to having a poor understanding of cyber risks, despite the majority recognising the issue as one of the most important facing the industry.
Added: Wed, 09/05/2018 - 12:40The overwhelming majority of UK insurers believe the incoming reporting standard IFRS 17 will be more costly than the Solvency II directive, new research has found.
Added: Tue, 08/05/2018 - 11:00Retirement saving is only the seventh most important financial concern for employees in the UK, with leisure and general household costs among the top priorities.
Added: Fri, 04/05/2018 - 15:51Allianz has announced today that it will no longer offer stand-alone insurance coverage for coal power plants following intense pressure from environmental groups.
Added: Thu, 03/05/2018 - 18:17Financial services companies are the most likely firms to be targeted for privacy requests following the introduction General Data Protection Regulation (GDPR) next month.