The AAE view on insurance and sustainability

Jérôme Crugnola-Humbert
Chairperson AAE Sustainability and Climate-Related Risks Working Group


The times have changed: with growing understanding of the climate emergency and its far-reaching consequences, stakeholders on all sides are insisting sustainability is tangibly integrated across the full spectrum of products and businesses. In the insurance sector this is evident as a general expectation – now held by investors, policyholders, regulators and employees – that companies will make a clear transformation and become providers of sustainable solutions.

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Save the date! European Actuarial Day – 27 June 2023

Lutz Wilhelmy
AAE Chairperson


Open those diaries and calendar apps: European Actuarial Day is returning – and you are all invited to take part, free of charge!


The first European Actuarial Day was conceived in 2021 as a virtual conference to fill the gap left by the postponed European Congress of Actuaries. The event was a great success, featuring contributions from 40 speakers from all walks of the profession and ultimately reached an audience of more than 250 participants. So we have decided it’s time to bring it back – and with 600 people already registered to attend this time, it’s set to be even better.

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AAE meets stakeholders to discuss Solvency II and sustainability

Giampaolo Crenca
AAE Vice-Chairperson

Frank Schiller
AAE Board member

In its role representing its professional actuarial members, a key function of the Actuarial Association of Europe (AAE) is maintaining meaningful and productive dialogue with leading participants and European agencies handling policies relevant to our field.


The AAE is regularly in contact with the most influential stakeholders, and we have been able to come to the table for meetings with Insurance Europe, the European Insurance & Occupational Pensions Authority (EIOPA) and the European Commission’s DG FISMA. We are optimistic that our recent input is already making a meaningful impact, specifically in terms of climate matters and the review of Solvency II.

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Supply chain management: Where are the actuaries of the future?

Inga Helmane
AAE Board member – Chairperson Communications Panel


Astronaut, nurse, firefighter… actuary? It may not be high on the list of childhood dreams, but for young people with talent in mathematics, a career as an actuary has a great deal to offer. However, it’s becoming increasingly clear that we need to work harder to get that message out.


For several years now, the Actuarial Association of Europe (AAE) has been gathering data to identify and monitor risks, and the issue of there being an adequate “supply” of new actuaries to meet changing professional demand is always in mind. Even though our membership is constantly on the increase, given that we expect actuaries to gain significance in more and more fields, continued growth is important. This naturally leads to related matters, namely: The risk of the actuarial profession becoming less appealing to career starters, experiencing shortages of necessary competencies, and losing relevance.

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Esko Kivisaari
Chairperson AAE Artificial Intelligence-Data Science Working Group


Artificial Intelligence (AI) has been a hot topic for a long time now, and is a development which promises to further transform many aspects of our lives. To understand what this could mean for actuaries, we should start from something we are certain of: data sets are the foundation for predictions which underpin risk measurement. Machine learning and other AI tools make it possible to consider vastly expanded data sets, and as such to potentially develop entirely new ways to evaluate and analyse risks.

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New leaf or empty promise?

Jérôme Crugnola-Humbert
Current Chairperson AAE Sustainability and Climate-related Risks Working Group
Frank Schiller
Past Chairperson AAE Sustainability and Climate-related Risks Working Group


It’s a familiar enough storyline, in fiction and in life: a protagonist who agrees to try again with the disappointing ex when they show up with lavish assurances that they’ve turned over a new leaf, they understand what you need from them, and they are ready to make it work this time. The appeal of an earnest promise is undeniable – but what happens when that promise is not backed up with action? Doesn’t each new letdown make the relationship a little less worthwhile to maintain?

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Europe faces extraordinary challenges

Lutz Wilhelmy
Chairperson AAE



The title is really an understatement. Compared to one year ago, the news items in newspapers, tv and social media are dominated by alarming news and crises.


Stripping them down a little we start with the ongoing transformation for more sustainability, including the ‘greening of economies’, but certainly not restricted to this. We all experience warmer summers and drying up rivers, but also more extreme weather events like floods.

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Shit happens!

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


All economic activity can result into damage to the environment. Some activities are riskier than others. When shit happens, when damage occurs remedial actions are necessary. Such actions are more or less costly depending on the damage.


The European Union has adopted in 2004 the Environment Liability Directive (ELD), the purpose of which is to implement the ‘polluter pays’ principle, i.e., the one who has caused the damage also pays for the remedial action. There are now plans to renew the ELD. One of the difficulties of implementing the ‘polluter pays’ principle is that the actor responsible for the liability might no longer exist when the damage is found out.

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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.

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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.

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