New edition of The European Actuary

Issue 28, December 2021 of The European Actuary has been published.

Featured Articles:

  • Setting targets for the AAE | Interview with Mária Kamenárová
  • Measuring mortality using 2020/2021 data | by Matthew Edwards and Steve Bale
  • Solvency II: an important step towards an amended framework | by Siegbert Baldauf
  • News from the Italian Actuarial Congress – Evolving the actuarial manager to a global manager | by Giampaolo Crenca
  • Why are people struggling with mental health conditions being denied cover? | by Esko Kivisaari
  • A continuously developing profession in challenging time | by Jennifer Baker
  • InsurTech: how to build a new insurance product? The example of Gaia, a London based start-up | by Floriane Moy
  • Life and non-life insurance are the two sides of the Covid-19 coin | by Romain Durand


Please visit the webpage of The European Actuary on the AAE website for prior issues or further details.

Winner of the prize for the best AAE slogan

As communicated in the AAE General Assembly held on 1 October 2021, the new AAE Slogan is: advising, achieving, engaging.


Winner of the prize for the best slogan is Henning Wergen, who is a member of the ECA 2022 organising team.

Henning has generously decided to donate his prize to anyone of the members who took the effort to submit a slogan proposal.


A prize draw performed by Mária Kamenárová, chairperson of the AAE, resulted in Elina Tilta-Gerika (Latvia) to be awarded this prize. The AAE Board generously extended this prize to not only include a free ticket to ECA2022, but also to reimburse travel and hotel costs.

Elina will be contacted to make the appropriate arrangements.


Henning received a nice box of Belgian chocolate as thanks for his generous donation from Mária Kamenárová.



How to Eat an Elephant – on the insurability of a pandemic

Esko Kivisaari
Past Chairperson AAE
Chairperson AAE Advisory Panel
Chairperson AAE Artificial Intelligence/Data Science Working Group


Desmond Tutu once wisely said that “there is only one way to eat an elephant: a bite at a time.” What he meant by this is that everything in life that seems daunting, overwhelming, and even impossible can be accomplished gradually by taking on just a little at a time.


The consequences of the current Covid-19 pandemic are huge and they dwarf most elephants. The number of human tragedies is immense although insurers seem to get along with the consequences in life and death. A different issue is business interruption where most existing policies do not cover the losses. A good question is whether it would be possible to extend business interruption cover in such a way that also situations like this would be covered.

Continue reading “How to Eat an Elephant – on the insurability of a pandemic”