If you're an actuary serving a smaller insurance company, you navigate a different set of issues than your counterparts in larger companies. The Smaller Insurance Company Section provides opportunities for professional development and relevant section-related activities and contributes to the profession through sponsored research.
This section will be rehomed into the Life and Annuities Community beginning fall 2025. Find out more about the benefits of Communities .
Read a recent article introducing VM-22, including use of stochastic, deterministic, and standard projections, as well as timeline for implementation and field testing. Additionally, for a more in-depth view, read how VM-22 compares to LDTI market risk benefits, and how reserving differs between the two and the impact on insurance companies.
Read updates from the Bermuda Monetary Authority's consultation paper, as well as regulatory developments considered under AG53 with the industry’s involving asset management trends. More details are provided on the Resources page.
Sections are evolving to Communities, and the Smaller Insurance Company section is being mapped to the Life & Annuities Community. Read more about the evolution to Communities and the Community governance structure.
Learn more about all things Illustration Actuary related including our three-part Illustration Actuary vodcast series! (Vodcast = podcast + video.)
This research report investigates simplified methods for determining reserves under VM-20. Visit the PBR Corner to explore more tools relevant to current topics and issues for small companies. More details are provided on the section resources page.
See a full list of Smaller Insurance Company Section council leaders, including officers, council members, and staff partners.
Review Smaller Insurance Company Section sponsored research from 2016-2024.
This article discusses how actuarial departments, especially in smaller organizations, can modernize their processes and improve efficiency without significant financial investments. It provides strategies such as focusing on stakeholder needs, optimizing current resources, improving communication, and fostering talent development. The piece emphasizes that even with limited resources, actuarial functions can add significant value by embracing small, incremental improvements.
The Smaller Insurance section has pulled together resources for section members in the following areas: regulatory updates, principle-based reserves (PBR), illustration actuary and general resources.