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The on-line actuarial journal Risks will produce a special edition on this subject, and is currently soliciting articles.
The IFoA believes Frank Redington's remarkable achievements make him a worthy nominee to feature on the UK's new £50 note.
The Financial Reporting Council, who are responsible for setting standards on technical actuarial work in the UK, are seeking views on their Actuarial Statement of Recommended Practice 1: Financial Analysis of Social Security Programmes. Technical actuarial work related to Social Security Pensions was identified by the FRC as representing a high level of risk to the public interest.
IFRS 17 is now expected to be implemented in 2022, following the IASB’s recent vote to propose a one-year deferral of the mandatory effective date.
This past year has seen firms establish IFRS 17 programmes to investigate the technical impact and the impact on systems and processes. The most significant change to insurance accounting in recent times has been discussed for at least twenty years but there is now a clear path to implementation of the rules across many countries globally.
Whether you’re a savvy saver or a serious spender, keeping track of money is big business in the finance sector – and it’s actually more interesting than you’d think. No, really!
We spoke with Abbie Woodrow about what it’s like to be an actuary (if you’ve never heard of it, we’ll let her explain!) and how she uses maths and problem-solving skills every day.
So, what exactly is an actuary?
The IFoA is undertaking its first all-member survey since 2011.
IFoA President Elect John Taylor explains why you should take advantage of this opportunity to make your voice heard.
As a member of Council, I have been lucky enough to meet a number of our members from across the globe at IFoA events. I find it incredibly valuable to hear directly from you, our members, about your hopes and fears for our profession, the challenges you face and how well you think we are equipping you to face these challenges.
John Taylor, IFoA President Elect discusses how actuaries are taking the lead in the emerging field of data science
When a topic generates a cloud of buzz-words ranging from “Big Data” to “Machine Learning” and “Artificial Intelligence” we can be sure that the core issue is one of public interest. Indeed, data science in all its manifestations is rarely out of the public eye as society grapples with the implications of the emergence of an incredibly powerful phenomena.
In this blog, Bethan Goddard, an intern at Barnett Waddingham, talks about her introduction to the actuarial profession and the things learnt along the way.
Having studied law at the University of Bristol for four years, to say I was outside my comfort zone at the start of my internship is a massive understatement. On day one at Barnett Waddingham, I had no actuarial, insurance or Excel experience. The list of things I didn’t know was endless.
GI Asia International Working Party are reporting on a Cyber risk event at which they presented.
As a working party, we’ve been giving thought to how, in practice, we would approach challenges that actuaries face on cyber risk. These may be reserving for a silent cyber loss, pricing a cyber extension or managing cyber exposures.
A ‘practical guide’ for pensions actuaries is helping members advising UK DB pension schemes to help their clients manage Resource & Environment (“R&E”) risks.
Other actuary news
Added: Thu, 20/12/2018 - 16:51Ten of the world's largest insurers will not support a proposed Australian coal mine described by NGOs as a test case that will show who is interested in profiting from climate chaos.
Added: Thu, 20/12/2018 - 12:00More than $1.3bn (£1bn) was invested in insurance technology firms in the third quarter of this year, double the amount recorded in the previous three months.
Added: Wed, 19/12/2018 - 10:55Both India and France are likely to overtake the UK in the rankings of the world's largest economies next year, with Britain falling from fifth to seventh place.
Added: Tue, 18/12/2018 - 14:30The Financial Reporting Council (FRC) should be replaced as soon as possible with a new regulator with clear statutory powers and goals, an independent review has concluded.
Added: Mon, 17/12/2018 - 14:00The state pension accounts for £6 in every £10 of retirement income received by British adults aged 65 and over on average, research by Just Group has revealed.
Added: Fri, 14/12/2018 - 16:27Defined benefit (DB) pension schemes in the UK are set to pay out almost one-third of a trillion pounds over a three-year period for the first time ever, Mercer has predicted.
Added: Fri, 14/12/2018 - 12:30The International Accounting Standards Board (IASB) has agreed to propose an amendment to IFRS 17 around presentational requirements for insurance contracts on balance sheets.
Added: Thu, 13/12/2018 - 14:00Pension trustees will have to run a competitive tender with at least three firms before choosing a fiduciary manager to invest more than one-fifth of a scheme's assets.
Added: Wed, 12/12/2018 - 10:15The majority of board members in asset management and banking firms are not clear on the specific cyber risks they face, the Financial Conduct Authority (FCA) has revealed.
Added: Tue, 11/12/2018 - 10:09The Pensions Regulator (TPR) will scrutinise all defined benefit (DB) superfunds looking to enter the market while the government develops a new authorisation system.