Today the AAE issued a press release with respect to the publication of the AAE position paper “Insurability and pandemic (or more generally, shared resilience) risk”.
The press release is available here.
Month: June 2021
‘Monetary policy – the current trajectory is not sustainable’
Monetary policy – the current trajectory is not sustainable
By Rob van Leeuwen
 |
|
In the abbreviation ‘ESG’ most attention goes to the first letter: the environment and climate change in particular. However, the ‘G’ stands for ‘governance’, and should not only apply to business, but especially to government.
Disclaimer:
This article represents the opinion of the author, and not necessarily the opinion of the AAE.
This article was published in The European Actuary No. 26 – June 2021
‘Why is the focus of the actuarial profession on climate-related risks and opportunities, rather than the multiple broader impacts of climate change?’
Introduction to climate-related scenarios
By Micheline Dionne
 |
MICHELINE DIONNE chairs the Resource and Environment Working Group of the International Actuarial Association (IAA).
|
The International Actuarial Association (IAA) recently announced the publication of the paper ‘Introduction to Climate-Related Scenarios’ developed by its Task Force on Climate Risk.
Disclaimer:
This article represents the opinion of the author, and not necessarily the opinion of the AAE.
This article was published in The European Actuary No. 26 – June 2021
‘Assumptions are always a challenge for Actuaries. How to check them?’
How to monitor actuarial assumptions regarding claim frequency in practice?
By Stéphane Loisel
 |
STÉPHANE LOISEL holds a PhD in applied mathematics from the University of Lyon, an MSc in actuarial science and finance, and is a fellow and former member of the board of the Institut des Actuaires. He is now full professor and head of LSAF research lab at ISFA, Université Lyon 1.
|
In insurance, it is important to continuously monitor actuarial assumptions, and particularly the ones regarding claim frequency. If one does not react quickly enough to a claim frequency increase, then one may face adverse selection. In the case of a claim frequency decrease, competition is at stake.
Disclaimer:
This article represents the opinion of the author, and not necessarily the opinion of the AAE.
This article was published in The European Actuary No. 26 – June 2021
‘Sustainability has many aspects, corona learned us’
Reform, resilience and recovery – Europe’s way forward
|
|
PAOLO GARONNA, Secretary General, Italian Banking, Insurance and Finance Federation is also Professor of Economics at the Luiss G. Carli University in Rome. |
Paolo Garonna shares his views about how sustainability and resilience are key to the future of Europe.
First question: What is your overall view of the EU’s approach to a) the European Green Deal and b) the post-Covid recovery funds?
Read Paolo’s answer and the full article here.
Disclaimer:
This article represents the opinion of the interviewee, and not necessarily the opinion of the AAE.
This article was published in The European Actuary No. 26 – June 2021
‘There is still a lot of work to do on the German pension dashboard!’
German pension dashboard: finally getting started
By André Geilenkothen and Stefan Oecking
André Geilenkothen |
Stefan Oecking |
A team of actuaries was mandated by the German Federal Government in 2018 to develop the conceptual basis for a digital crosspillar pension dashboard.
After a draft legislation in the summer of 2020, the ‘RentÜG’, the ‘Act on the Development and Introduction of a Pension Dashboard’, finally passed German Parliament at the end of last year.
Disclaimer:
This article represents the opinion of the authors, and not necessarily the opinion of the AAE.
This article was published in The European Actuary No. 26 – June 2021
‘How can you fix the financial system in order to fix the economy?’
Adapt to survive
|
|
Elena Višnar Malinovská is the Head of Unit in charge of adaptation to climate change, cities and international cooperation, within DG CLIMA at the European Commission. |
As we emerge from the Covid19 pandemic many things will look different, in particular how we built back better and become more resistant to risks. It has also put the looming threat of climate change centre stage.
Watch the short impression of the recorded interview here.
Disclaimer:
This article represents the opinion of the interviewee, and not necessarily the opinion of the AAE.
This article was published in The European Actuary No. 26 – June 2021
Recipe for success
 |
Monique Schuilenburg |
A different angle sometimes helps to put everything in perspective. Let me give you a look behind the scenes. I am taking the recently held EAD2021 as a reference, but frankly this is a blueprint for most of the AAE events regardless of the scale.
Preparation is key for everything we do and even more so for an event like EAD. As spectator or participant you may not be aware of the amount of work that needs to be done.
‘How do you take lessons from the disrupted technology companies and building habits techniques?’
Culture eats sustainability for breakfast
By Gus Badran and Servaas Houben
 |
In line with the Paris agreement, the insurance sector has decided to give climate risk a formal role in the Solvency II framework. Although the inclusion of climate risk in Own Risk and Solvency Assessment (ORSA) and standard formula will induce insurance companies to be more aware of the effects of climate risk, the authors believe that without a change in culture it will be hard to embed climate risk into the DNA of insurance companies. Besides regulatory incentives like capital relief, a change in habits is required to not merely comply, but excel on the topic of sustainability.
Disclaimer:
This article represents the opinion of the authors, and not necessarily the opinion of the AAE.
This article was published in The European Actuary No. 26 – June 2021
New edition of The European Actuary
Issue 26, June 2021 of The European Actuary has been published.
The theme of this issue is Sustainability.
Featured Articles:
- Adapt to survive | Interview with Elena Višnar Malinovská, DG CLIMA
- Culture eats sustainability for breakfast | by Gus Badran and Servaas Houben
- German pension dashboard – finally getting started | by André Geilenkothen and Stefan Oecking
- Reform, resilience and recovery – Europe’s way forward | interview with Paolo Garonna
- How to monitor actuarial assumptions regarding claim frequency in practice? | by Stéphane Loisel
- Introduction to climate-related scenarios | by Micheline Dionne
- Monetary policy – the current trajectory is not sustainable | by Rob van Leeuwen
Please visit the webpage of The European Actuary on the AAE website for prior issues or further details.