Make sure to block your calendar for the AAE sessions at CONVENTION A!

Inga Helmane, AAE Board member

Connecting Knowledge! A great theme for CONVENTION A and certainly in line with the AAE’s strategic objectives.

AAE is proud to be hosting two session slots at Convention A. The theme is appealing and reflects all aspects of the AAE’s strategic objectives.

Continue reading “Make sure to block your calendar for the AAE sessions at CONVENTION A!”

The ECA tradition goes on: European actuaries meet in less than two weeks

Maria Kamenarova,
Chairperson AAE

Wilhelm Schneemeier,
Chairperson ECA Steering Committee

 

With a one-year delay – due to the global Corona pandemic, of course – the upcoming fourth edition of the European Congress of Actuaries on June 2 and 3 in Madrid, Spain, will finally offer again the opportunity to watch exciting presentations from in front of the stage, to discuss face-to-face hot topics with the speakers and the audience, as well as to network with colleagues from all over Europe and beyond.

Continue reading “The ECA tradition goes on: European actuaries meet in less than two weeks”

How to retire with dignity

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

 

A colleague of mine stayed some years ago for some time in a developing country. His wife worked in a telecommunications firm so this colleague had time to continue his studies. He also spent some time consulting the local insurance association.

 

One of the successful programs was called ‘How to retire with dignity’. The target group consisted of army officers, policemen, prison guards and so on. The idea was to convert corrupted money into an insurance policy so that the dirty origin became hidden. And it was also good risk management, anticipating a possible regime change and making the money inaccessible for new rulers.

Continue reading “How to retire with dignity”

Sustainability and Climate Change: Main positions of the AAE

Frank Schiller
Chairperson AAE Sustainability and Climate-related Risks Working Group
Vice-chairperson AAE Risk Management Committee

 

The current Assessment Report 6 of the IPCC is quite clear: “Emissions of greenhouse gases from human activities are responsible for approximately 1.1°C of warming since 1850-1900” and “many of the changes observed in the climate are unprecedented in thousands […] of years.” Warming beyond 1.5°C will increase physical consequences significantly. At approximately 2°C irreversible tipping points in the climate system will be reached. Consequently, almost all countries committed in the 2015 Paris Agreement to a 1.5°C warming target and this target has been confirmed at the COP26 in Glasgow 2021.

 

Continue reading “Sustainability and Climate Change: Main positions of the AAE”

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

Esko Kivisaari
Past Chairperson AAE
Chairperson AAE Advisory Panel
Chairperson AAE Artifical 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”

Recipe for success

Monique Schuilenburg
AAE Operations Manager

 

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.

Continue reading “Recipe for success”

Did you register for EAD 2021 yet? If not, now is the time to do so!

Inga Helmane
Member AAE Communications WG
and AAE Board member

 

On 2 and 3 June 2021, the Actuarial Association of Europe in cooperation with the European Actuarial Academy will hold the first European Actuarial Days (EAD).

 

With the next European Congress of Actuaries postponed until 2022 due to the ongoing corona pandemic, the AAE has decided to host the European Actuarial Days in order to offer a unique CPD possibility to all European actuaries in 2021 as well as a possibility for knowledge transfer and networking.

Continue reading “Did you register for EAD 2021 yet? If not, now is the time to do so!”

We need your help to find the AAE’s slogan!

Gunn Albertsen
Chairperson AAE Communications WG and AAE Board member

 

The Board of the Actuarial Association of Europe (AAE) invites all members of AAE Member Associations to suggest a new and permanent slogan for AAE. The proposed slogan should express the vision of the AAE for actuaries throughout Europe to be recognised as the leading quantitative professional advisers in financial services, risk management and social protection, contributing to the well-being of society, and for European institutions to recognise the valuable role that the AAE plays as a leading source of advice on actuarial and related issues.

Continue reading “We need your help to find the AAE’s slogan!”

Solvency II review proposal for long term valuation: Significant risk to destroy values!

Wilhelm Schneemeier
Chairperson AAE 

 

On first sight this may sound more like a lobbyist statement than a prudent actuarial position. Why does AAE not support the proposal of EIOPA to reduce the risk-free interest rate significantly after 60 years (see also articles in the March issue of “The European Actuary”)? Let me explain step by step why EIOPA’s advice concerning the extrapolation is not justified and even contradicts many actuarial principles and is not aligned with the existing Solvency II framework.

Continue reading “Solvency II review proposal for long term valuation: Significant risk to destroy values!”

How to recognize the actuarial professional

Mária Kamenárová
Vice-chairperson AAE 

 

We all want to receive the best service and care in all aspects of our lives as we believe we are worth it. How to define the best service is a matter of individual preference: service for the best price, the best time (as time is money), or the best value for money, usually linked with professional care?

Continue reading “How to recognize the actuarial professional”