Letter from CAS and SOA Presidents about Combination Proposal

November 19, 2018

Last week, the Casualty Actuarial Society (CAS) Board of Directors voted on the proposal to combine the CAS and SOA into one new professional organization, but did not achieve the necessary two-thirds majority support required for the proposal to move to a member vote. The SOA Board of Directors subsequently met to review this news and, of course, acknowledged that the CAS Board vote will prevent the combination from moving forward.

Given this outcome, the CAS and SOA will continue operating as separate organizations, to serve their members and other stakeholders to best of their abilities and in the interests of their respective organizations. Also, both Boards expressed the desire to build on the spirit of collaboration established throughout the development of the combination proposal by working together on mutually beneficial initiatives for the betterment of our shared profession and its future.

We would like to thank everyone who worked so diligently on the proposed combination including: the CAS and SOA Boards of Directors for their careful consideration; the negotiating, communications and due diligence teams at the CAS and SOA for their bold thinking and extensive time spent building the proposal; and most importantly, to you, our members, for sharing your feedback along the way. If you have any comments or questions, please share them with the CAS at office@casact.org or the SOA at membercomms@soa.org.

Sincerely,

Jim Christie, FCAS, FCIA
2018-2019 CAS President

Jim Glickman, FSA, MAAA
2018-2019 SOA President