News

The Actuarial Association of Europe (“AAE”) has published a “Report on key issues for setting up national pension tracking services in six EU countries”.

The Society’s ERM Committee has responded to the Institute & Faculty of Actuaries consultation on the regulation of Chief Risk Officer roles under Solvency II.

Full details of the consultation are available from http://www.actuaries.org.uk/research-and-resources/documents/consultati…-

The ERM Committee submission is available here.

On 10th October 2014, the European Commission adopted a Delegated Act containing implementing rules for Solvency II. This will enter into force once the European Parliament and Council have both approved it, following their scrutiny, for which a maximum period of 6 months can be taken.

The Actuarial Association of Europe issued the following press release today:

The International Actuarial Association (IAA) has published a paper on Stress Testing and Scenario Analysis by the Insurance Regulation Committee.

EIOPA Press Release:

The April 2013 issue of the IAA Newsletter is now available here https://web.actuaries.ie/press/iaa.

It features the following sections;

The April Issue of The European Actuary is now available here.

It features the following articles;
 
•    EIOPA calls for transparency to protect consumers.
•    The thorny issue of annuities
•    Mortgages: interesting asset class for pension funds?
•    Social Responsibility
•    Unintended Future Risk
•    What can actuaries add to the debate on environmental issues?

The European Insurance and Occupational Pensions Authority (EIOPA) and the World Bank have signed an operational Memorandum of Understanding (MoU) to cooperate on developing the insurance sector.

This Memorandum will enable both organizations to collaborate on promoting a risk_based regulatory and supervisory framework in insurance, as well as the identification of systemic risk and the promotion of consumer protection.

More information is available here

The requirements you need to fulfil for the CERA qualification changed from September 2012.

For those taking the ST9 exam after 1 September 2012, you also need to attend a seminar in order to receive the qualification.

More information is available here

Since 2010, the UK Institute and Faculty of Actuaries has been permitted to award the Chartered Enterprise Risk Actuary (CERA) qualification to those of its Associates and Fellows who have passed  its ST9 Enterprise Risk Management (ERM) Specialist Technical examination (and, from September 2012, have also attended a one day seminar).

From the UK Actuarial Profession's ERM Newsletter, March 2012:
 
"We are pleased to announce that the CERA Treaty Board has recently granted approval to the application from the UK Actuarial Profession to award the CERA qualification to Thought Leaders and Verifiable Experienced Practitioners.

Over the next few months, the identification and confirmation of Thought Leaders will begin. This will be done using a Selection Panel and will be by invitation only.

The key criteria for a Thought Leader are: