HIGHLIGHTS FROM THE ISSUES

• IAIS Annual Conference in Tokyo

Immediate Past President Roseanne Harris hosted a roundtable table discussion session today at the IAIS Annual Conference in Tokyo on the topic of the role of the actuarial profession in relation to insurance supervision.

She was joined by Janina Voss, Interim Head of Secretariat, Access to Insurance Initiative (A2ii) and Joost Steynberg, Chair, IAIS Risk-based Solvency Implementation Forum.

• Volunteers needed for UNDP-Milliman Global Actuarial Initiative (GAIN) Project 

The UNDP-Milliman Global Actuarial Initiative (GAIN) is seeking multiple volunteers for the Thought Leadership Papers on the role of actuaries in the public sector. This remote position seeks to provide broad support to GAIN’s initiatives across multiple countries by working closely with the program team.

If you are interested in this position, please see the  linked description, and submit the required information no later than 17 November 2023 to GAIN@milliman.com

• Webinar on ISAP 7 on Current Estimates in Relation to Insurance Capital Standard (ICS)

 The IAA's Actuarial Standards Committee hosted a webinar earlier this week on this topic, which focused on key aspects of ISAP 7 to IAA Member Associations, Actuarial Standard Setters and other interested parties, and to highlight the benefits of adopting it locally, as appropriate.

ISAP 7 provides guidance to actuaries when performing actuarial services in connection with the Insurance Capital Standard (ICS) issued by the International Association of Insurance Supervisors (IAIS).

ICS Version 2.0 for the monitoring period was issued on 14 November 2019 by the IAIS. The monitoring period ends in 2024 when a final version of ICS is expected to be published.

If you missed the webinar, you can access on the IAA YouTube channel or directly via this link. 

• AAE News

Discussion Paper “A Primer on Inflation Risk Management”

The Actuarial Association of Europe (AAE) has announced the publication of its new report on “A Primer on Inflation Risk Management”. 

The current macroeconomic environment has reminded us that inflation is a very real risk. It has been over 40 years since we last saw high inflation and therefore most actuaries working today have not experienced such an environment. 

With this paper, the AAE wants to aid the actuarial community in providing effective risk management in the current volatile and uncertain inflation environment. In order to do so, the paper covers the following topics: 

•    An Introduction to Inflation – This section covers a variety of inflation concepts to enable the reader to refresh their knowledge on inflation. 

•    Managing Inflation Risk – This section covers a number of risk management techniques for inflation risk.

•    Inflation Risk – This section covers the direct impact of high inflation. 

•    Broader Macro-Economic Risks – This section covers the broader, secondary impacts of high inflation.

Webinar 'Actuaries as Data Scientists: how our Professionalism and Training keeps us ahead'
The AAE will host a webinar on 29 November 2023, 10:00-12:00 CET on 'Actuaries as Data Scientists: how our Professionalism and Training keeps us ahead' organised by the AAE Professionalism Committee, Register here!