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In a lightly publicised move, all UK regulators (PRA, FCA, TPR, FRC) are listed by DEFRA in their list of organisations reporting on climate change. This is a significant increase from the previous reporting round when only the PRA reported.
The Research Sub-committee of the Life Board at the IFoA is looking to commission three to four new working parties in 2019 and we are keen to hear your thoughts on potential topics for research. We will be meeting in January to discuss the research agenda for 2019/2020.
The Institute of Actuaries of Australia’s Climate Change Working Group has recently published a paper on climate transition risk for General Insurers. The paper was presented at the Australian Actuaries Institute’s General Insurance Seminar in November.
Under the bottom-up architecture of the Paris Agreement, countries pledge Nationally Determined Contributions (NDCs). Many feel that the current NDCs individually align, at best, with divergent concepts of equity and are collectively inconsistent with the Paris Agreement.
A recent paper, published in Nature magazine sets out to show that the global 2030-emissions of NDCs match the sum of each country adopting the least-stringent of five effort-sharing allocations of a well-below 2 °C-scenario.
The Institute of Chartered Accountants in England and Wales (ICAEW) and the Royal Statistical Society (RSS) are hosting a workshop-style event on the afternoon of 30 January to inform a forthcoming report: Living Longer – a view from the professions
The event will examine how older populations are characterised and how this shapes public perception; how the professions can change these perceptions; what the professions can do to help the transition to an economy whose population is ageing; and what it means for the professions, their qualifications and their clients.
The Institute and Faculty of Actuaries’ (IFoA’s) Engagement and Learning Directorate are seeking to hear from applicants who would like to be considered for senior positions in Actuarial Statistics and Health and Care.
Examination bookings open on January 14 2019 but owing to resource constraints there will be restrictions on available examination places at centres.
Whilst we will make every effort to find alternative places we cannot guarantee that all students, especially for the CS1 and CM1 examinations, will be accommodated.
As ever, the earlier you book the better your chances of avoiding difficulty.
Our Members Survey will close on Friday 21 December.
Help us to improve the support and services we provide for our members, now and in the future.
We’d very much like you to take part in our first members survey since 2011.
Tell us about your professional challenges and how the IFoA can support you and the wider profession.
We want to make sure we are giving you the support you need to excel in your studies and career, wherever you are in the world. Don’t miss out on this opportunity to have your say in the future of your professional body.
Earlier this year, the Government appointed Sir John Kingman to lead an independent review of the Financial Reporting Council (FRC).
The review, put in place to assess the effectiveness of the FRC’s governance, impact and powers, has been published.
Update: A global adjustment was made to the pass mark for the CP3 exam.
In light of the technical issues experienced by candidates sitting the September CP3 exam, the matter was referred to the Board of Examiners for further consideration.
It was concluded by the Board that the extent of the problem was significant enough to consider implementing a global adjustment. An adjustment was agreed, and resulted in the pass mark of the CP3 exam being reduced to 58.
Other actuary news
Added: Wed, 30/01/2019 - 13:30The average UK pension fund experienced its biggest loss since the financial crash last year, with less than one in ten generating positive investment returns.
Added: Wed, 30/01/2019 - 13:00More than 80 investors with $6.4trn (£5trn) in assets under management have told six of the world's largest fast food companies to urgently tackle climate and water risks in their supply chains.
Added: Tue, 29/01/2019 - 12:40The average life insurance policyholder in the US is massively underinsured, new research has found, with firms potentially missing out on almost $70bn (£53bn) in annual premiums.
Added: Mon, 28/01/2019 - 14:32Firms could be forced to offer a range of investment options to customers that enter pension drawdown without taking advice, the Financial Conduct Authority (FCA) has announced today.
Added: Mon, 28/01/2019 - 13:24Cyber attacks could hit companies with $5.2trn (£4trn) in additional costs and lost revenue over the next five years, research by consultancy firm Accenture has found.
Added: Mon, 28/01/2019 - 13:00The UK and Switzerland reached an agreement to allow free trade between each other's insurance sectors post-Brexit at the World Economic Forum in Davos last Friday.
Added: Fri, 25/01/2019 - 12:24The International Accounting Standards Board (IASB) has agreed by a significant majority to discuss changing several key aspects of IFRS 17 insurance contracts.
Added: Wed, 23/01/2019 - 12:25The UK government's Insolvency Service has wound up 24 companies involved in pension scams since 2015, with 3,750 investors duped by fraudsters during that time.
Added: Tue, 22/01/2019 - 13:30Insurance firms have been told to offer cheaper premiums to companies that are preparing for the impacts of climate change amid a growing frequency in extreme weather events.
Added: Mon, 21/01/2019 - 14:00Business interruption (BI) and cyber incidents are the top two threats facing companies around the world in 2019, a survey of insurance experts and risk managers has revealed.