Any actuary, before accepting appointment as a signing actuary, must consider most carefully, in the light of his or her knowledge and experience, whether acceptance would be in line with proper professional behaviour and standards. No actuary should act as signing actuary without appropriate knowledge and practical experience relevant to the company concerned.
An applicant should normally be able to demonstrate the equivalent of three years full-time experience as a Fellow Member in the last six years dealing with the actuarial estimation of non-life insurance reserves at a level where he or she has worked closely with an existing signing actuary or an actuary at an equivalent level.
For an unrestricted certificate, an applicant should have experience estimating non-life insurance reserves for a wide range of risks, including both Irish and offshore business, personal and commercial lines, and direct and reinsurance business. A minimum of one year’s recent relevant experience of reserving for Irish business will be required. For a certificate that is specific to particular types of risk (i.e. direct or reinsurance business, Irish or offshore risks, specific classes of business), an applicant should be able to demonstrate experience of reserving for those types of risk.
For a certificate that is specific to a particular non-life insurance or reinsurance company, the applicant should be able to demonstrate experience of reserving for the types of risk underwritten by that company.
N. B. Updated details of recent relevant experience will be required every three years when renewing your certificate.