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Current and planned reviews

Climate-related risk exercise - open and waiting for you

If you have an interest in climate-related risk we invite you to take part in this information gathering exercise. Your input will help us understand how actuaries treat climate-related risk across insurers, pension funds and other financial institutions. It will build a picture of how involved actuaries are in this crucial area and identify high-impact work being carried out and areas for future focus. The findings will be published in late 2021. Read President-Elect Louise Pryor's news article launching this exercise.

I would like to share my own individual experience, how can I do that?

Whether climate-related risk forms a significant part of your work or not, we want to hear from you. Our simple questionnaire asks you to provide some high-level information about you and the type of organisation you work for, although the questionnaire can be completed anonymously. It then asks you to describe how climate-related risk features in your work, including case studies. You should expect to spend around one hour completing this questionnaire.

As well as completing this questionnaire on your own behalf, please work with colleagues to complete the relevant questionnaire (below) on behalf of your organisation.

Please note: if you are a sole practitioner responding on behalf of your organisation, please go to the general questionnaire for organisations in wider fields.

My organisation would like to take part, how can we do that?

Consultancies and insurers should use these questionnaires. You are asked to provide a point of contact and some high-level information about your organisation, although the questionnaire can be completed anonymously. To help you capture information, some coordination across teams may be needed within your organisation. This will include providing high-level information on the resources you devote to climate-related risk, the impact and influence of these activities, as well as case studies of recent work in each area.

Organisations working in wider fields (and sole practitioners) should use this questionnaire. You are asked to provide a point of contact and some high-level information about your organisation, although the questionnaire can be completed anonymously. You will then be asked to provide a more detailed account of how climate-related risk features in your work including case studies. This may involve some coordination with colleagues.

I’m not sure if this exercise is aimed at me or my organisation, should I be taking part?

This exercise is open to all IFoA members and the organisations they work for, both in the UK and globally. We hope that it is easy to identify the questionnaire that is right for you or your organisation. If you have questions or would like to find out more, please email the Actuarial Review Team. We look forward to hearing from you.

The deadline for submitting information to us is Friday 18 June 2021.

Current activities

Title and Status

Type Description Documentation

Climate related risk

Treatment of climate related risk in actuarial work, or wider actuarial influence in approach taken by firms to recognise and mitigate this risk.


Open to submissions

Information gathering exercise

Climate-related risks are systemic long-term risks that impact the work of actuaries in many areas. The 2017 IFoA Risk Alert called on actuaries to consider how these risks affect the advice they are providing. As a signatory to the Green Finance Education Charter, the IFoA is committed to report on progress in mainstreaming the principles and practice of green and sustainable finance.

This information-gathering exercise will look at current practices adopted by actuaries across all practice areas in the treatment and assessment of climate related risk.

General Insurance: Involvement of actuaries in pricing for UK Home and Motor insurance


Closed to submissions

Thematic review The IFoA is reviewing actuarial involvement in General Insurance Pricing for UK Home and Motor Insurance. This review aims to understand the role of actuaries in this key area of work, and to identify best practice as well as areas where training or guidance could be enhanced to better support our members.
  • Reporting Q2 2021

Planned activities 

Title and Status

Type Description

Equity release mortgage product design and pricing

Actuarial role in technical aspects and fairness in product design and pricing.


Target launch Q2 2021

Thematic review

The actuarial inputs to the design and pricing of equity release mortgages have a direct impact on long term financial products that are provided to the public. This is a broad and complex area utilising a wide range of actuarial skills including market and product knowledge, technical competency in areas such as option-pricing, property risk and longevity risk, as well as the requirement for clear communication.

The review will look at current actuarial practice to understand the processes adopted and challenges faced when providing advice in this area. The review will also consider reserving approaches and the associated adherence to technical actuarial standards.

Actuaries as experts (in narrower fields)

Actuarial roles acting in narrow, or less typical, fields of expertise and/or providing advice directly to individual clients or consumers.


Target launch Q3 2021

Thematic review

Actuaries act as experts in a number of situations to help courts or individuals resolve disputes or quantify long-term liabilities. Although relatively few actuaries carry out these types of work, the impact on their users may be significant and the importance of clear and effective communication is critical.

The review will look at current practices adopted by actuaries acting as experts in a range of areas including an analysis of the types of advice given. An initial area of focus is likely to be Funeral Trusts.

Corporate pensions advice

Advice given to sponsors (as opposed to trustees) in reaching agreement on actuarial valuations, investment strategy and on benefit design.


Target launch Q4 2021

Thematic review

Actuarial advice to sponsors is critical to the financing of DB pension schemes, which affects the long-term security of member benefits. Advice to sponsors may also affect the benefits payable to members.

The range of advice in this area is potentially wider than the advice given to trustees, and may involve other professionals. The review will look at current practices adopted by actuaries in scheme funding, investment strategy (including settlement options) and benefit design. It will also cover the treatment of potential conflicts of interest.

Contact Details

For more information please contact the Actuarial Review Team

Level 2, Exchange Crescent · 7 Conference Square · Edinburgh · EH3 8RA

Filter or search events

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Events calendar

  • Spaces available

    Climate-Related Risk - This free to view webinar on Climate-Related Risk is the first in a series focusing on some of the ‘Hotspots’ identified in the JFAR Risk Perspective bringing the Risk Perspective to life with practical illustrations and insights from subject experts from the IFoA and other Regulators

  • Spaces available

    Recent decades have seen institutions, such as employers and financial services, give people more choice and flexibility, but these freedoms have come with more responsibilities. Individuals are now responsible for managing more of their own financial risks, from ensuring they put enough money into their pension to securing affordable protection to be financially resilient.

  • Actuarial Innovation in the COVID-19 era

    This event is online. 
    26 April 2021 - 7 May 2021
    Spaces available

    Join us for this brand new IFoA webinar weries comprising of a fortnight of webinars, panel sessions and a hackathon, that showcase the range of ways in which the actuarial profession has added value, in the public interest, to the understanding and management of the current and future pandemics through insight and learning.

  • Spaces available

    This event is now temporarily closed on Monday 26 April, but the session will be repeated on Tuesday 27 April, 09.00-10.30. Please click here to register your place. 

    Actuaries have a lot to offer biodiversity management over the next decade as the world develops more depth to its response to this global challenge. This sessional offers an opportunity to learn about this emergent risk, to contribute to our thinking as a profession and help us develop the next steps forward.

  • Europe Town Hall

    28 April 2021

    Spaces available

    IFoA Immediate Past President John Taylor would like to invite you to the Institute and Faculty of Actuaries’ (IFoA) virtual Europe Town Hall, hosted by John Taylor with IFoA Council Members Alan Rae, Jennifer Hartley, Maribel Vasquez Flores and IFoA Chief Executive, Stephen Mann.

  • Spaces available

    Sessional Meeting - Free to viewMis-estimation risk is a key element of demographic risk, and past work has focused on mis-estimation risk on a run-off basis.  However, this does not meet the requirements of regulatory regimes like Solvency II, which demands that capital requirements are set through the prism of a finite horizon like one year.  This paper presents a value-at-risk approach to mis-estimation risk suitable for Solvency II work

  • Finance & Investment Virtual Conference 2021

    Available to watch globally in May.
    10-12 May 2021
    Spaces available

    This year's Finance and Investment Virtual Conference takes on the timely theme of ‘resilience’, something we have all learnt a lot more about in the last year! Our diverse range of talks will explore the theme of resilience in a variety of ways including in building robust investment portfolios, in the incorporation of ESG factors, in govern

  • Spaces available

    This talk will explore the potential benefits that wearable tech can bring to health & protection insurers and their customers. The traditional approach of integrating wearables into insurance has largely focused on measuring steps and using rewards-based incentive programs to encourage more activity.

  • Spaces available

    Join us for this talk with Professor Sir Adrian Smith as part of the 'Dr Patrick Poon Presidential Speaker Series'. Professor Smith joined The Alan Turing Institute as Institute Director and Chief Executive in September 2018. In November 2020, he became President of the Royal Society, in addition to his leadership of the Turing. He is also a member of the government's AI Council, which helps boost AI growth in the UK and promote its adoption and ethical use in businesses and organisations across the country. He received a knighthood in the 2011 New Year Honours list.


  • CILA 2021

    Available to watch globally in May.
    19-21 May 2021
    Spaces available

    We continue to live in a world of global uncertainty. Survival depends on our ability to simultaneously navigate through the diverse root-causes, ranging from: the consequences of Climate Change; on-going financial consequences of the COVID pandemic; or self-imposed changes in regulatory requirements and accounting standards.

  • Pensions Conference 2021

    Online webinar series
    16-22 June 2021
    Spaces available

    Welcome to the programme for our 2nd Virtual Pensions Conference. This year's conference features 11 webinars offering members and non-members the opportunity to get up to date content from leading experts in the pension industry. There will also be opportunity to ask questions and contribute to the discussion.