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: Discusses the University of the West Indies Actuarial Society that was launched in 2002 at the University's Mona campus in Jamaica.

Description: Survey of the experiences of actuaries working internationally.

Description: this article is a recap of The 23rd Annual Conference of the Caribbean Actuarial Association

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

Description: Think of all the documentation you as an actuary are expected to write: emails, status reports, business plans, white papers, case studies, user guides, pricing and methodology manuals, policies, procedures, regulatory submissions, and more. But while you’ve been formally taught many skills to qualify as an actuary, how to write well is probably not one of them. Fortunately, writing well is not some esoteric skill only available to those with a gift for it. Sure, a little talent helps—but knowing and applying some tricks from professional writers will greatly enhance your ability to communicate even the most complex ideas clearly and simply.

Description: Countries developing universal health care via an insurance vehicle face a variety of challenges. Deciding which benefits to include, where to proactively manage health, and how to reimburse network providers are just a sampling of the issues governments concurrently manage. Optimal choices are data-driven responses. For example, high rates of cervical cancer or increasing narcotics prescriptions are trends that can be managed through product changes, modified network payment structures, or even employer based outreach. This kind of information is typically gleaned from established health insurance claims data. However, in emerging health insurance markets, this level of granular claims data is largely missing. It is difficult to manage medical trend when the root causes are unclear. This article explores a pilot medical underwriting project in Jordan.

Description: Part One of a three part discussion of A Social Security System for the 21st Century, this part focuses the broader international, social, political, cultural and economic trends that will govern the viability and sustainability of a social security system in the 21st century.

Description: Valerie Tsang and Jessica Kirkwood are both senior consultants with Ernst & Young LLP (EY UK) and Ernst & Young LLP (EY US) respectively, who also have something else in common—they both have recently moved to a new country and are now immersed in a different market. Here, they discuss the quick-changing landscape of actuarial work and regulations and the importance of being aware of the key issues both in the countries they work in and globally, as well as some of the differences they have seen between the UK and US markets.

Description: A significant contributor to Ireland’s economic strength has been the success of its international life insurance industry - foreign insurers establishing themselves in Ireland to enable them to efficiently target the trillion dollar European savings and investment market.