News

Value for Money in Life Insurance Savings

Where this information includes links to other sites and resources provided by third parties, these links are provided for general information only. The Society assumes no responsibility for the contents of such third party offerings.

The Demography Committee of the Society of Actuaries in Ireland (SAI) has co-written a paper with the Continuous Mortality Investigation (CMI) of the Institute and Faculty of Actuaries (IFoA). Working paper 141 explores ways of adapting the CMI Mortality Projection Model for Irish population data, areas to consider when doing so and the likely challenges of such work. The paper also considers the potential impact on life expectancy of adapting the Model to use Irish population data.

The paper considers two approaches:

The Demography Committee of the Society of Actuaries in Ireland is pleased to present the results of a study into the pensioner mortality experience of Irish self-administered pension schemes (SAPS). The last such study was commissioned in 2012.

Click here to read the study 

The Demography Committee of the Society of Actuaries in Ireland is pleased to present the results of the analytical review of methodologies in projecting best estimate mortality improvements for the Irish population. 

This paper summarises the analytical review performed by the Demography Committee in respect of a range of potential mortality improvement models in the context of best estimate, mortality improvement projections

 

The Society has today issued a press release on a major investigation into Irish death rates (Irish Insured Lives Mortality Investigation). Click here to read the full press release.

The Central Bank of Ireland has published S.I. 392 of 2017, which amends the Life Assurance (Provision of Information) Regulations 2001. The Life Assurance (Provision of Information) Regulations (Amendment) Regulations 2017 amend Regulation 7 of the Life Assurance (Provision of Information) Regulations 2001 due to the coming into effect of the EU Regulation on key information documents for packaged retail and insurance-based investment products (the PRIIPs Regulation) on 1 January 2018.

Parliament’s Economic and Monetary Committee rejected as “misleading” and flawed, proposals aimed at providing greater protection to consumers buying packaged financial products, and unanimously voted to send the proposals back to the European Commission.

The Joint Committee of the European Supervisory Authorities (EBA, EIOPA, ESMA - ESAs) has finalised its proposal for regulatory technical standards (RTS) on Key Information Documents (KIDs) for Packaged Retail and Insurance-based Investment Products (PRIIPs). 

The European Insurance and Occupational Pensions Authority (EIOPA) published today a potential macroprudential approach to the low interest rate environment in the Solvency II context.
The aim of this publication is to contribute to the discussion on the possible need to develop a macroprudential framework in the insurance sector to promote financial stability in a Solvency II environment.
 
The following three objectives to be targeted by supervisory authorities in the current low interest rate environment are addressed: