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

23 May 2022

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.

(more…)

How to retire with dignity

22 March 2022

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.

(more…)

Sustainability and Climate Change: Main positions of the AAE

7 February 2022

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.

(more…)

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

8 November 2021

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.

(more…)

Recipe for success

10 June 2021

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.

(more…)