News

20 Dec 2010

Solvency II: CEIOPS provides update on Quantitative Impact Study

The Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS) has announced its completion of the first phase of the fifth Solvency II Quantitative Impact Study (QIS5).

Read more
25 Nov 2010

IAA Releases Note on Internal Models

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.

Read more
25 Nov 2010

Expert Working Group publishes Report on Medical Negligence and Periodic Payments

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.

Read more
23 Nov 2010

Society submits comments to European Commission on Insurance Guarantee Scheme

The Society has responded to a European Commission consultation on insurance guarantee schemes.
 
Consultation documents
 
Submission

Read more
15 Nov 2010

SAI Newsletter November 2010

Read more
11 Nov 2010

Society says that fundamental review of defined benefit pension system is long overdue

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.

Read more
08 Nov 2010

Sovereign Annuities

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

Read more
12 Oct 2010

Central Bank of Ireland issues second edition of Solvency II newsletter

The Central Bank of Ireland has issued the second edition of their Solvency II Newsletter, ” Solvency II Matters - Issue 2.  There are a number of important updates in this issue, including updates on the process for submitting QIS5 results, an overview of the Internal Model pre-application process and guidance on Article 4 of the Directive.  Any feedback on the newsletter or suggestions for future topics sho

Read more
04 Oct 2010

Solvency II: Central Bank of Ireland publishes QIS 5 Q&A

With the Society’s assistance, the Central Bank of Ireland held a number of QIS 5 workshops in September, to aid companies in understanding the requirements of QIS 5 and completing the associated spreadsheets.  The workshops were aimed at all professionals involved in completing QIS 5.  They tried to address issues that firms had initially encountered and identified with the technical specification and spreadsheets.

Read more
21 Sep 2010

SAI Newsletter September 2010

The September edition of the SAI Newsletter is now available by clicking here

Read more
15 Sep 2010

Submission to Health Insurance Authority on Minimum Benefit Regulations

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

Read more
30 Aug 2010

Submission to Health Insurance Authority on Risk Equalisation

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

Read more