News

Climate change is affecting how risks are underwritten, priced, managed and reported globally, whether for general insurance, life insurance, pensions, other financial institutions, and social security.  

This is one of the key messages in a paper ‘Climate Change Matters’ published by the Society of Actuaries in Ireland on Monday Oct 24th.

SAI Response to the Department of Finance on the Consultation on Development of a National Resolution Framework for (Re) Insurers (Sept 2021)

The November 2020 Newsletter is now available to read online. This edition includes articles on:

We are pleased to announce that the Society of Actuaries in Ireland has joined the CERA Global Association as an Acceding Party.

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 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: