AAE News

AAE submitted a response to EIOPA’s consultation on its methodology for setting value-for-money benchmarks

18 March 2024

AAE submitted a response to EIOPA’s consultation on its methodology for setting value-for-money benchmarks.

AAE’s submission can be found here.

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 Our woman in the Hague

14 March 2024

How to arrange the best possible pension for everyone

interview with Agnes Joseph

Agnes Joseph is an actuary and MP in the Netherlands.

On 22 November 2023 the Netherlands held elections. The results reshaped the political landscape. One of the big winners of the election was the new political party Nieuw Sociaal Contract (NSC) who gained 20 out of 150 seats in the House of Representatives. It became the fourth largest party in the country and it is an important partner in the negotiations to form a new government. The party leader, Pieter Omtzigt, is a quantitative economist, while the number 8 on the list, Agnes Joseph, is an actuary. We asked her about her ambitions in politics, now that she has entered the House of Representatives with her actuarial background.

 

Read the article here.

 

Disclaimer:

This interview represents the opinion of the interviewee, and not necessarily the opinion of the AAE.

This article was published in The European Actuary No. 37 – March 2024

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Current challenges of the German social security system

12 March 2024

Current challenges

column by Natalia Löfflad

Natalia Löfflad is a board member of two IORPs (Allianz Versorgungskasse VVaG and Allianz Pensionsverein e.V). She is an actuary and fully qualified member of the German Association of Actuaries (DAV), where she recently took over the lead of the Social Security working group.

In the Social Security Working Group of the German Association of Actuaries (DAV), dedicated DAV members examine legislative projects from a professional and actuarial perspective. The following remarks are based on the presentation by Katja Jucht and Andreas Holle from the Social Security Working Group as part of the Continuous Professional Development series ‘DAV vor Ort’ (DAV on site).

 

Read the column here.

 

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. 37 – March 2024

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AAE submitted a response to EIOPA’s consultation on the Opinion on sustainability claims and greenwashing in the insurance and pensions sectors

11 March 2024

AAE submitted a response to EIOPA’s consultation on the Opinion on sustainability claims and greenwashing in the insurance and pensions sectors.

AAE’s submission can be found here.

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S is for social – all about social sustainability in insurance

7 March 2024

Jérôme Crugnola-Humbert

Chairperson AAE – Sustainability and Climate-Related Risks Working Group

 

The potential of insurance as a positive social factor has long been understood: some Ancient Romans maintained subscription payments to burial societies – rather like life insurance premiums – which would cover their funeral costs after death. Earlier still, Ancient Greek maritime law decreed that in the event of cargo being jettisoned from a ship to lighten the load, the cost of the loss should be shared between those whose cargo reached its destination as well as the affected parties. Society has undeniably been shaped by the capacity to collectively share and manage risks which could not be borne by an individual.

Back in the modern day, ESG is becoming a familiar concept in insurance and elsewhere, and it is increasingly embedded in policymaking too. However, so far there has been a tendency for the ‘S’ (Social) to play only a supporting role compared with the ‘E’ (Environmental, and in particular climate change). Although this is reasonable to some extent, given that the consequences of climate change are highly relevant to insurers, there is now a need for the insurance industry to sharpen its original focus on the S, and to be as ambitious in this area as it should be on environmental issues.

(more…)

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