News

The Society of Actuaries in Ireland has issued a statement welcoming the "sovereign annuities" initiative introduced in the Dáil last week. 

IAA News Release:

The International Actuarial Association is pleased to announce the completion of the paper Note on the Use of Internal Models for Risk and Capital Management Purposes by the Solvency Subcommittee of the Insurance Regulation Committee.

An expert working group on medical negligence litigation, chaired by High Court Judge Mr Justice John Quirke and including Mr James Kehoe, Fellow, Society of Actuaries in Ireland, has reported that the current system of awarding lump sum payments for damages for future care needs in medical negligence, and all other cases where catastrophic injuries are awarded damages, is inadequate and inappropriate.

The Society of Actuaries in Ireland has stressed that it is vital that the ambitious deadline set for the potentially far-reaching review of defined benefit pension schemes announced recently by Minister Ó Cuív is delivered upon and a new protection system is put in place promptly.

The Society has issued a briefing statement on the “sovereign annuities” concept that has attracted media attention recently.

The Society has responded to a consultation paper from the Health Insurance Authority on “Minimum Benefit Regulations in the Irish Private Health Insurance Market”.

The Health Insurance Authority’s recent consultation paper on “Risk Equalisation in the Irish Private Health Insurance Market” invites input on the risk factors to be taken into account in a risk equalisation scheme, such as age, gender and health status.  In the Society’s response to the paper, we emphasise that decisions on risk factors should have regard to, and be consistent with, the objectives of the scheme.  The Society is in favour of a risk equalisation system that encourages competition and new insurers.  It would not be necessary to allow for health status in such

Submission to Financial Regulator on Investment Guarantees

The Financial Regulator published a consultation paper during the summer on “Investment Guarantees – Guidance on Reserving and Risk Governance”. 

CEIOPS has this morning (6th July) published the final QIS5 specifications.  The 6 documents are available as a single ZIP download

STUDIES IN IRISH DEMOGRAPHY EXPERIENCE

The UK Actuarial Profession wishes to commission research in the area of modelling and understanding heterogeneity in mortality and morbidity risk which has an impact in areas of actuarial interest.