Institut des Actuaires, France/Col.legi d’Actuaris de Catalunya, Spain
 A graduation ceremony took place at the University of Dakar on July 23, where trainers (academics and professionals) received their International University Degree for the Actuarial Master I and II diplomas. The training for this diploma was provided by the Institut de Science Financière et d’assurances (a French university in Lyon), the University of Barcelona and the Faculty of Economics and Management Anta Diop, University of Dakar.
Deutsche Aktuarvereinigung (DAV), Germany
Annual Autumn Meeting
The annual Autumn Meeting of DAV and its scientifically orientated partner organization DGVFM will take place on November 16–18, 2015, in Dresden. It will feature the meetings of the German ASTIN and LIFE Sections before the AFIR and Health Sections meet. On November 18, DGVFM is organizing a conference in cooperation with the German Organization of Insurance Sciences, focusing on risk management. More than 600 members are expected to participate in this conference to remain current with new developments in the most important fields of actuarial mathematics. The meeting is the second largest actuarial conference in Germany.
ICA 2018: Best Paper Award
From June 4–8, 2018 the DAV will host the International Congress of Actuaries (ICA) in Berlin. To reward outstanding scientific research the DAV and its scientific partner DGVFM will constitute a Best Paper Award during the event. The aim of the award is to encourage and support research in the actuarial field. The call for papers will probably start by the end of this year. Approved papers will be presented during the ICA.
The ICA is held every four years in different locations throughout the world. Around 2,000 actuaries, academics and high-ranking representatives from the international insurance and financial industries as well as related institutions are expected to take part in ICA 2018. Further information is on the website.
Working Group for Consumer Protection
The importance of consumer protection has grown significantly. Consumers face complex financial structures, a global capital market and a highly increased amount of information. The need for customer information and education to ensure a stable and well-functioning financial system is more important than ever. The DAV therefore recently established a new working group to focus on these topics from an actuarial perspective.
EAA – European Actuarial Academy GmbH
1st EAA Risk Management Summit, October 29, 2015, in Frankfurt/Main, Germany
In recent years, enterprise risk management (ERM) has become increasingly important to financial and insurance institutions. To support actuaries in ERM and risk managers in general, several national actuarial associations founded the CERA credential in 2009. The EAA is an accredited education provider for various national actuarial associations in Europe under the CERA regulations.
To offer an exchange forum for European risk managers and CERA, and to present new approaches and solutions, we are holding the 1st EAA Risk Management Summit on October 29, 2015, at the Airport Conference Center in Frankfurt/Main, Germany.
Several important topics will be covered at the forum. One presentation will explore how to deal with cyber risks in the insurance sector. Another topic will focus on the effects of a positive interest shock for long-term life insurance contracts. In addition, we are honoured to announce a talk from Paul King, Chair of the CERA Review Panel, who will share his insight on the importance of the CERA credential for actuaries in ERM.
The registration fee is €350.00 plus 19 percent VAT. The maximum number of participants is 90, so early booking is recommended. All the details and registration form are online.
IAA/EAA Seminar Collaboration: New Seminar Dates for Stochastic Modeling – Theory and Reality from an Actuarial Perspective
The seventh seminar based on the IAA book Stochastic Modeling – Theory and Reality from an Actuarial Perspective in cooperation with the IAA, taking place from September 21–23, 2015, in Brussels, Belgium, is fully booked.
If you are interested in this topic and do not want to miss the next opportunity to participate in this very successful seminar, please register online for our newsletter. You will be informed as soon as the next dates are published and registration is open, as well as about other EAA seminars and events. The newsletter registration link is at the left end of the homepage. You may also like to connect with our new LinkedIn Group to stay up to date.
Actuarial Society of South Africa (ASSA), South Africa
ASSA Introduces Banking Fellowship
Candidates will take the exams for the first actuarial banking fellowship in October this year, as part of ASSA’s second semester examination offering. ASSA also offers Fellowship examinations in healthcare, life insurance, short term (general) insurance, pensions and related benefits, and investments.
Increased involvement by actuaries and actuarial students in the South African banking industry resulted in the establishment by ASSA of a Banking and Finance Committee in 2010. Noting that there was a need to augment the skillset of actuaries entering the banking industry, the committee recommended the development of a banking specialist examination.
A team of international and South African experts designed the course, which focuses strongly on the management of risks specific to the banking industry, e.g., credit risk, market and interest rate risk, liquidity risk and operational risk. Other focus areas include balance sheet and capital management, corporate governance and the setting of strategy in the banking environment. The course complements the Chartered Enterprise Risk Actuary (CERA) designation.
The ASSA Education Board supervised the development process and implemented the necessary quality assurance measures, while keeping the ASSA Council abreast of developments.
For more information, contact the ASSA Education Executive, Petrus Bierman.
Institute and Faculty of Actuaries (IFoA), United Kingdom
AFIR/ERM joins the IFoA Pension, Risk and Investment Conference 2016—May 31 to June 2, 2016, Edinburgh Convention Centre
In May 2016 the IFoA Risk and Investment Conference will merge with the Pensions Conference, joining three large practice area events under one roof and providing the opportunity for delegates to attend plenary and workshop sessions that are relevant but not directly related to their specific area. Offering three days of knowledge exchange and continuing professional development alongside a selection of plenaries, workshops and technical skills, it enables delegates to attend a variety of cross-practice sessions, get involved in a number of topical discussions and network with those from different specialisms to discuss mutual interests and experiences.
The IFoA has invited the Actuarial Approach for Financial Risks/Enterprise Risk Management (AFIR/ERM) Section of the IAA to join the conference and is delighted to be able to offer its members the opportunity to engage with members of AFIR/ERM from all over the world. This will provide an ideal chance for both groups to discuss the latest challenges and successes in risk management and exchange of ideas and best practices. You can register your interest in attending or sponsoring this event by contacting event manager Hannah Watson. The call for speakers will be issued soon.
The IFoA has recently published a call for research and is encouraging submissions from around the world from academic and practitioner research teams. It is also keen to hear from other actuarial associations who may consider collaborating on the resulting projects. The call is based on key questions that the IFoA has identified as the major research challenges of interest to the global actuarial community. The call closes on October 5, 2015.
CERA
Due to increased interest, the IFoA has increased the frequency of CERA seminars held during the year. Five seminars will be held in 2016, representing a 25 percent increase in the number of potential new CERA holders that can be accredited through the IFoA in the year. The CERA seminar aims to enable delegates to investigate and discuss more practical applications of ERM, which is not possible in the time allowed for the ST9 exam. The seminars take place in London and the dates for 2016 will be released on October 5.
American Academy of Actuaries (AAA), United States
American Academy of Actuaries Celebrates its 50th Anniversary
 In conjunction with its Annual Meeting and
Public Policy Forum, to be held November 12–13 in Washington, the AAA will hold a gala dinner on the opening night. Registration and program information can be found here. Other activities to mark the anniversary will include a commemorative booklet, an interactive timeline on the Academy’s website, and video interviews with past presidents and others who were instrumental in the founding and development of the Academy as the professionalism and public policy voice of the U.S. actuarial profession.
Academy Releases New International Publications
The newest addition to the Academy’s Essential Elements series, “International Capital Standards,” looks at new proposals for insurance solvency and capital standards that are being developed by U.S. regulators and international standard-setters. With the potential to have a profound effect on domestic and international insurers, the academy summarizes the current efforts to develop proposals and lays out a comprehensive set of principles that should guide policymakers and regulators when developing capital standards. While most of the AAA’s public policy advice involves in-depth, painstakingly detailed examination of complex topics, the Essential Elements series includes more high-level discussion of broader topics, and is aimed at non-expert audiences.
In July the Academy’s Health Practice International Committee also published a new issue brief on international wellness initiatives that explores such initiatives in Japan, Israel, and South Africa, and one large corporation’s experience in the U.S., U.K., India, and Mexico, and highlights results from these case studies. The committee encourages more research to quantify the value of wellness programs in the U.S. and abroad.
Casualty Actuarial Society (CAS), United States
CAS Annual Meeting to be Held in Philadelphia
The CAS is now accepting registrations for its 2015 Annual Meeting, scheduled for November 15–18 in Philadelphia, Pennsylvania. Actuaries from around the world are encouraged to attend and take advantage of the educational sessions and networking opportunities. Click here to learn more.
2015 CAS Election Results
Nancy Braithwaite has been elected President-Elect of the CAS. In addition, Jim Guszcza, Larry Haefner, Mary Hosford, and Chris Nyce have been elected to the Board of Directors. These Fellows will assume their positions at the close of the 2015 Annual Meeting.
CAS Holds General Insurance and General Takaful Ratemaking Seminar in Malaysia
In conjunction with the Actuarial Society of Malaysia and the Institute of Actuaries of Australia, the CAS organized a ratemaking seminar to address the needs of the general insurance and general takaful industry and the actuarial profession. This seminar will take place in Malaysia, on September 21–23, 2015.
CAS Implements New Diversity Strategy to Build Multi-Dimensional Property and Casualty Profession
As part of its commitment to advance the actuarial profession and engage future generations of property and casualty actuaries, the CAS has adopted a new strategy to enhance the diversity of its membership. The CAS Diversity Strategy formalizes the CAS’s commitment to facilitate the evolution of a multi-dimensional property and casualty actuarial profession.
For more information on these announcements and other CAS news, visit the CAS website.
Society of Actuaries (SOA), United States
SOA Brand Identity
The SOA recently announced a refreshed and consistent brand identity and new logo. The SOA logo’s infinity symbol reflects how the organization continually evolves to produce forward-thinking education, cutting-edge research and professional development opportunities. The shield represents a strong foundation, bound by standards and principles, to protect the value of the SOA credential and the interests of the communities served. The brand will be featured globally, from the society’s award-winning magazine, The Actuary, to SOA.org. Additionally, the SOA recently launched customized homepages for audiences in Asia and Canada, including regional-specific professional development, exams and research topics.
General Insurance (Property & Casualty) Track
In support of its General Insurance (Property and Casualty) track to Fellowship of the SOA, the organization continues to host new opportunities for actuaries and candidates, from exam preparation to emerging risk projects and professional development training seminars. Earlier this year the SOA announced its initial FSAs in General Insurance, including Achille Sime, FSA, CERA, MAAA, FIAF, who was born in Africa, attended college in Europe and works in North America. Also, on November 16 the SOA and the Institute of Actuaries of Korea will host the second annual General Insurance Seminar, in Seoul, South Korea.
SOA and CAA Sign Memorandum of Understanding
In June the SOA and the China Association of Actuaries (CAA) signed a memorandum of understanding. The SOA and CAA will continue to explore opportunities to work together, such as on research and actuarial training in China, building upon existing collaborative efforts. Representatives from both organizations will meet regularly to communicate regarding major events and activities concerning the global profession.
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