Description: In this translation of an original article by Oscar E. Velandia, the role of the actuary in the Colombian insurance market place in light of regulatory change is examined. A comparison with the rules from the Solvency II Directive puts the actuarial function into context. In addition, the new financial reporting requirements set forth by IFRS 17 and the involvement of the actuary in finance is described.

Description: Editor's note summarizing contents of the newsletter and developments within the International Section

Description: Briefly discusses the Taiwan Actuarial Community as of September 2000.

Description: Highlights a visit made by the President of the Society of Actuaries to the Far East. Specifically, he shares his learnings about the actuarial profession in Shanghai, Bejjing, Hong Kong and Taipei, locations that contain more than 6 percent of the SOA membership.

Description: The author discusses riding the globalization wave. To walk on water in the information flood and the foreseeable globalization wave, we need the highest business ethical standards, the wisdom to make informed decisions, and the willingness to have an open-mind with patience to accept and handle differences. All of these can be summarized in these qualities: responsible, caring and respectful.

Description: This paper discusses approaches for reporting pre-need plans in the Phillipines under the generally accepted accounting principles of the United States “U.S. GAAP. In particular, a focus is on contracts accounted for under SFAS 97 investment-oriented contracts.

Description: Excellent big picture view for planning a social insurance system with pay-as-you-go, required self-funded, and voluntary plans.

Description: The U.K. Actuarial Profession—the Faculty and the Institute of Actuaries—has recently been addressing what they should be doing for their international members.

Description: A recap of the Caribbean Actuarial Association’s Professionalism Event for Experienced Actuaries at the Hyatt Regency Hotel in Port of Spain, Trinidad.

Description: Highlights of the June 23-26 International Actuarial Association colloquium in Lyon, France.