Description: This is an article discussing the update on the SOA international experience study which has expanded the topics being studied from individual life insurance mortality and persistency experience to also include agent retention and productivity.

Description: As insurance companies in many jurisdictions around the world are in the midst a major overhaul of financial reporting processes for insurance contracts, the question about tapping on the experience of Solvency II may help these companies to implement IFRS 17. There are a few similarities between IFRS 17 and Solvency II, most notably with respect to the economic balance sheet approach, or the probability-weighted cash flow discounting techniques that both methodologies require. In addition, both IFRS 17 and Solvency II imply as broad and profound impact on all aspects of how insurers conduct business, from valuation methodologies and governance, data, processes, and technology impacts. Changes in roles and responsibilities between actuarial and finance departments also represent a considerable business impact. However, in this article the author highlights the salient differences between IFRS 17 and Solvency II.

Description: Read the May 2019 issue of International News published by the International Section of the Society of Actuaries. Newsletters provide practical information for the working actuary, articles on trends that impact sections and news about section activities.

Description: In this article, the author discusses the new IAA strategic plan for dealing with global financial risk.

Description: Read the October 2020 issue of International News published by the International Section. Newsletters provide practical information for the working actuary, articles on trends that impact sections and news about section activities.

Description: The core of actuarial work involves assessing the present value of future liabilities. This requires us to make assumptions about the future. The future is inherently uncertain. Communicating that uncertainty to others is a major challenge for actuaries.

Description: Joseph Lu considers the risk of pandemics and whether actuaries can go beyond just modelling financial losses towards working on prevention

Description: Sustainable operations under changes in accounting principles and solvency standards

Description: The article is an overview of the life insurance business in the Middle-East. It presents the history and culture of the region and the impact on shaping the life insurance products. The article then presents surrounding economic, political and demographic environment as well as business challenges and opportunities. Finally, the article presents the market position on the digital transformation.

Description: Read the May 2020 issue of International News published by the International Section. Newsletters provide practical information for the working actuary, articles on trends that impact sections and news about section activities.