AAE Blogs

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

16 March 2021

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.

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How to recognize the actuarial professional

2 March 2021

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?

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Updating the Risk Margin Calculation

7 January 2021

Malcolm Kemp
Chairperson AAE Risk Management Committee

 

At an AAE Risk Management Committee Webinar on 8 December 2020, Malcolm explored how best to recognise multi-year risk dependencies in the Solvency II risk margin calculation. This blog summarises the material covered in his presentation.

 

The Solvency II risk margin is an integral part of the capital structure of EEA insurers. It is included in the Solvency II review currently being undertaken by the Commission. It also features in the UK Government review of how UK insurers should be regulated after Brexit.

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He’s making a list, He’s checking it twice, He’s gonna find out who’s naughty or nice…

15 December 2020

Esko Kivisaari
Chairperson Data Science/Artifical Intelligence workstream

 

When it comes to Santa, there are less and less things you can hide from him. Historically, Santa has always been among the most advanced users of personal data. Modern developments have however opened new avenues for him. This is the result of immense increases in the amount of digitalized data together with advanced analytical tools and increases in computing power.

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You should contact your intergalactic reinsurer!

25 June 2020

Esko Kivisaari
Immediate Past Chairperson AAE

 

The Covid-19 pandemic has caused widespread human suffering and huge economic damage. We are still not at the end of this affliction, and there is uncertainty as to when a vaccine will be widely available, and whether it will be in time to prevent a second wave.

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