AAE submitted a response to the Commission’s survey on Data collection – Redeveloping European Statistics on population.
AAE’s submission can be found here.
Month: December 2021
The Covid-19 crisis makes us think about the correlation between life and non-life and the role governments are playing in this, claims Romain Durand
Life and non-life insurance are the two sides of the Covid-19 coin
By Romain Durand, Head of life Reinsurance at Groupe Covéa.
Covid-19 reminds us of the complex relationship between insurance and state-driven solutions in modern economies. Many governments rightly chose to spare as many lives as possible at the expense of the economy. In so doing they have triggered an unintended consequence for the insurance industry: what would be normally considered a life insurance issue – pandemic risk – turned out to be largely a non-life problem.
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. 28 – December 2021
Floriane Moy describes Gaia, a London-based InsurTech startup, or: how to build a new insurance product?
InsurTech: how to build a new insurance product? The example of Gaia, a London based start-up
By Floriane Moy
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FLORIANE MOY is Data Lead at Gaia, London. She carries a Master of Financial Engineering. |
Most startups start with identifying an issue and designing a solution to solve it. In our situation, Gaia started from a personal experience and aims at addressing a major health problem: infertility. Affecting one in six couples, infertility is the world’s third largest disease globally after cancer and cardiovascular disease.
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. 28 – December 2021
Esko Kivisaari discusses why people are struggling with mental health conditions being denied cover
Why are people struggling with mental health conditions being denied cover?
By Esko Kivisaari
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ESKO KIVISAARI MSc is Fellow of the Actuarial Society of Finland and Deputy Managing Director of Finance Finland (member of Insurance Europe, EBF and Efama). He is also Past Chairperson of the Actuarial Association of Europe, and he was a member of the High-Level Expert Group on Sustainable Finance.
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Mental health conditions make insurance cover inaccessible, at least in some countries.
Is there a good actuarial motivation for this?
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. 28 – December 2021
‘What role should actuaries play with regard to social security?’
A continuously developing profession in challenging time
By Jennifer Baker
The world is changing. That is not new, but the Covid19 pandemic, globalisation, technological progress and demographic change are profoundly impacting OECD labour markets on a scale not seen before. Alongside these seismic changes there is, in Europe, a push towards more evidence-based, fact checked policy making; on that basis Social Security Actuaries can make a real difference.
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. 28 – December 2021
AAE responds to ESAs call for evidence on PRIIPs review
AAE submitted a response to ESAs call for evidence on PRIIPs review.
AAE’s submission can be found here.
Confirmation of AAE’s amended MRA
After the approval of the amended MRA at the AAE General Assembly held on 1 October 2021, the AAE asked their Full Members to confirm it. The AAE is pleased to report that all Full Members confirmed the amended MRA.
As a non-EU/EEA member of the AAE and as per the special motion proposed and approved unanimously at the AAE General Assembly held on 1st of October 2021 allowing Full Member Associations not being EU/EEA Members to exit the AAE MRA, the Institute and Faculty of Actuaries (IFoA) has withdrawn from participation in the AAE MRA as of 15 October 2021. As a transitional arrangement following the IFoA’s withdrawal, the IFoA will continue to consider applications up to 31 December 2021 and will honour the status, rights and obligations of qualified actuaries recognised under an AAE MRA.
The AAE would like to thank all the participants and stakeholders to the MRA review for their valuable contributions over the past few years.
Contact person at AAE: Monique Schuilenburg (moniques@actuary.eu).
Brussels, 16 December 2021
Siegbert Baldauf discusses relevant questions on the amended framework of Solvency II
Solvency II: an important step towards an amended framework
By Siegbert Baldauf
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SIEGBERT BALDAUF is an independent actuary and Chair of Solvency II Working Group for AAE.
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The Solvency II review process seems to be on the home straight. EIOPA had provided the requested technical advice to the EU-Commission on 17 December 2020 together with extensive background and impact analysis. This analysis was substantiated by two impact assessments conducted by EIOPA with reference date 31 December 2019 (Holistic impact assessment – HIA) and 30 June 2020 (Complementary information request – CIR).
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. 28 – December 2021
Giampaolo Crenca looks back on a successful Italian Congress
News from the Italian Actuarial Congress – Evolving the actuarial manager to a global actuary
By Giampaolo Crenca
The XIII Italian Actuarial Congress was held on 10-12 November 2021 as a hybrid conference in Rome and online webinar with more than 1200 attendees.
GIAMPAOLO CRENCA |
In addition, please read the column on Giampaolo’s election as AAE Board member.
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. 28 – December 2021
‘To what extent can mortality data from 2020 and 2021 be of use, given how abnormal these years have been?’
Measuring mortality using 2020/2021 data
By Matthew Edwards and Steve Bale
MATTHEW EDWARDS is Chair, CMI.
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STEVE BALE is Chair, CMI COVID-19 Working Party. |
This article sets out the UK profession’s plans regarding the use of 2020 and 2021 data, in particular regarding pensioner, annuitant and life assurance mortality. To what extent can mortality data from 2020 and 2021 be of use, given how abnormal these years have been? Exactly the same question faces actuaries working in life insurance and pensions, in the UK and in virtually all countries affected by the COVID-19 epidemic. The underlying discussions and analysis have been conducted by the profession’s Continuous Mortality Investigation (CMI).
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. 28 – December 2021