Founded in 1895, and reformed in 1998 with a new constitution, the International Actuarial Association (IAA) is the worldwide association of professional actuarial associations, with a number of special interest sections for individual actuaries. The IAA exists to encourage the development of a global profession, acknowledged as technically competent and professionally reliable, which will ensure that the public interest is served.
The Actuarial Association of Europe (AAE) was established in 1978 under the name Groupe Consultatif to represent actuarial associations in Europe. Its purpose is to provide advice and opinions to the various organisations of the European Union – the Commission, the Council of Ministers, the European Parliament, EIOPA and their various committees – on actuarial issues in European legislation. The AAE currently has 37 member associations in 35 European countries, representing over 20,000 actuaries.
The European Insurance and Occupational Pensions Authority (EIOPA) was established in consequence of the reforms to the structure of supervision of the financial sector in the European Union. The reform was initiated by the European Commission, following the recommendations of a Committee of Wise Men, chaired by Mr. de Larosière, and supported by the European Council and Parliament.
Kindred Actuarial Organisations
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The Society has a very close link with the Institute and Faculty of Actuaries in the United Kingdom.
In addition, the Society is a member of the Actuarial Association of Europe. The Actuarial Association of Europe is a body through which actuarial associations from the various EC countries can discuss and progress matters of mutual interest, in particular matters relating to EC legislation, working practices and standards of professional behaviour in the various member associations and training.
The Society is also a member of the International Actuarial Association, which is dedicated to developing a global profession, acknowledged as technically competent and professionally reliable.
The Society has Mutual Recognition Agreements with the following associations: