News

The Society has issued a press release highlighting that a sharp decline in female performance at the highest level in Leaving Certificate Higher Level Mathematics since 2012 is likely to create a gender imbalance in STEM careers and in female access to high-points third level courses generally.  This is according to a report prepared by the Society's Gender Pipeline Working Group.

The SAI's Diversity and Inclusion (D&I) Committee organised a pilot Transition Year Work Experience program (the “SAI TY program”) with the aim of introducing the actuarial profession to students from diverse backgrounds. The aim of the program was to reach students who would not normally have access to this type of experience. 

The SAI TY program is an interactive 4-day program for transition year students run by Susan HayesCulleton of The Positive Economist and Savvy Teen Academy, in collaboration with volunteers from the D&I Committee and sponsoring employers.

The Society has made a submitted views to the Pensions Council  on the gender gap in supplementary pensions. The Society submission is 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 Central Bank of Ireland has published Reserving Requirements for Non-Life Insurers and Non-Life and Life Reinsurers (“the Requirements”).

The purpose of the Requirements is to strengthen the reserving framework for non-life insurers and non-life and life reinsurers. The Requirements set out a series of requirements in areas such as the role of Signing Actuary, internal and external audits, reserving policy and issues which should be considered by the Boards when setting the margin for uncertainty.

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

EIOPA Press Release:

The Groupe Consultatif Actuariel Européen has published a paper on Market Consistency.  The paper summarises the key principles underlying market consistent valuations of assets and liabilities.  Its underlying aim is to help actuaries and others best interpret the concept of market consistency in contexts where several possible valuation approaches are or might be proposed.

From the UK Financial Reporting Council today (30th January 2012):

ASB issues revised proposals for the Future of Financial Reporting Standards in the UK & Republic of Ireland

The Accounting Standards Board (ASB) of the Financial Reporting Council has today published financial reporting exposure drafts (FREDs) 46 to 48 setting out revised proposals for the future of financial reporting in the UK and Republic of Ireland.