News

Dermot Corry, President of the Society of Actuaries in Ireland, has called for reform of Pensions Structures in his Presidential Address on 19th September 2013.

Click here to read the full press release

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

The Central Bank of Ireland today (Wednesday 21st August) announced the appointment of Cyril Roux as Deputy Governor, Financial Regulation.

An actuary by profession, Mr Roux will be responsible for all regulatory activities at the Central Bank. He is currently the First Deputy Secretary General of the French prudential supervisory authority for banks and insurance companies (Autorité de Contrôle Prudentiel et de Résolution ACPR). The Minister for Finance has welcomed the appointment.

The Central Bank of Ireland has published 'Feedback Statement on CP61' relating to proposed changes to the basis for calculating the industry funding levy payable by regulated entities and other levy-related matters.

This feedback statement outlines the main themes which emerged from submissions received and the Bank's response thereto. It also sets out the changes to be implemented and the estimated impact of proposed reforms on annual levies payable by regulated entities.

The Society of Actuaries in Ireland today issued a joint press release and statement, together with IBEC, ICTU and IAPF,  calling for government action to save thousands of workers from pensions hardship.

The Joint Committee of the European Supervisory Authorities (Joint Committee) held its first Consumer Protection Day on 25 June 2013 in Paris.

Consumer protection is a major objective for the European Supervisory Authorities (ESAs – EBA, ESMA, EIOPA) and under the auspices of the Joint Committee, they continue to place this high on their agenda for 2013.

The aim of the event was to provide a forum for exchange and discussion on important and current cross-sectoral consumer issues.

With this Opinion in the field of consumer protection, EIOPA recommends national competent authorities (NCAs) to analyse their national Payment Protection Insurance (PPI) markets based on the findings of this opinion. PPI is an insurance product designed to provide coverage for the consumer of a financial obligation generally in the form of a mortgage or a consumer loan repayment, in case they are unable to fulfil a payment. The consumer protection issues surrounding PPI have triggered action from regulatory or supervisory bodies in a number of jurisdictions.

The European Insurance and Occupational Pensions Authority (EIOPA) has launched a public consultation on two Good Practices Reports on comparison websites and knowledge & ability of distributors of insurance products.

EIOPA Press Release:

The Science Gallery in Dublin has been transformed into a virtual casino for its latest show, Risk Lab. Visitors can expect to learn more about their perception of risk and the psychology and maths behind games such as roulette and poker. The goal is to help give people a deeper understanding of risk-taking in every aspect of their lives.

The exhibition opened on the  2nd May, and the free show is set to run until 23rd June at the Science Gallery on Pearse Street.

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

It features the following sections;