Description: The implementation of the IFRS 17 insurance accounting standard has brought significant changes to the financial reporting landscape of insurance companies. With new disclosure requirements and altered profit analysis, understanding and interpreting future profitability have become a topic of concern for the industry. While stability remains a key objective for insurance companies, the earning patterns might become more volatile especially when the contractual service margin (CSM) is exhausted, and a loss component (LC) needs to be established. Reinsurance, a common risk mitigation tool, can play a pivotal role in managing earnings volatility and minimizing losses for onerous measurement units. In this article, we propose a new key performance indicator (KPI) called “loss recoverability” to assess the performance of reinsurance treaties in achieving these objectives. We explain how this KPI can be utilized in multiple scenarios to evaluate the effectiveness of reinsurance strategies and pursue stability in earning patterns.

Description: Interview with the current Chair of the Retirement Section Council, describing the work of the Council and other topics.

Description: The financial sector should provide financial security and allocate capital well. As its preeminent professionals actuaries have particular responsibilities.

Description: An article about redefining risk management, written entirely by ChatGPT.

Description: The goal of this publication is to give insights on some market trends in the insurance industry from an African perspective. Some of such trends include digital innovation, accounting standards (IFRS 9 and IFRS 17), African Continental Free Trade Area (AfCFTA), Political Violence and Terrorism (PVT) incidents and Covid-19 pandemic exposures as well as Environmental, Social and Governance (ESG) considerations. It also highlights the success story of the leading pan-African reinsurer, African Reinsurance Corporation, with a message to young professionals that can help increase their odds of success.

Description: Discusses the percentage of women in the SOA over time and some of the challenges these women have encountered as female actuaries.

Description: The Drake Risk and Insurance Workshop on Catastrophe Risk took place virtually on February 19, 2021, hosted by the School of Actuarial Science & Risk Management in the College of Business and Public Administration at Drake University. The purpose of this article is to share with the actuarial science community some experience in organizing this event amidst the COVID-19 pandemic.

Description: Interview with new incoming Chair of the Reinsurance Section