Description: This article is the first of a two-part series on international developments. It discusses the actuarial focus on application of risk expertise to insurance and pensions vs. the newly developing focus on enterprise risk management.

Description: This article explores the impact of the tsunamis which hit the shorelines of nine countries in Southeast Asia on December 26, 2004.

Description: Update of climate risk related governance and disclosure.

Description: In 2020, the Korean insurance regulator, Financial Services Commission (FSC), introduced a coinsurance structure allowing for full risk transfer—including investment risk, interest rate risk, insurance risk, and policyholder lapse risk—as a permitted practice. Expanding use of coinsurance in the Korean insurance market brings a suite of potential benefits to Korean insurance companies including increased financial flexibility, options to improve policyholder protection and shareholder value through optimization of business strategies. As such, FSC’s initiative and intention to introduce coinsurance opportunities to the market is commendable.

Description: At this time of economic distress, companies throughout the world are intensely focused on upgrading their risk management capabilities, as are their home country regulators. This article explores one example of how a part of this transformation was accomplished for several major Korean insurers.

Description: ERM in the Brazilian market

Description: Discussion of an inaugural survey of the International Network of Actuarial Risk Managers to identify their view of the top five emerging risks.

Description: The author describes the 29th. edition of the International Summer School, held in Lausanne, Switzerland, organized by the Swiss Association of Actuaries.

Description: Description of an ERM workshop delivered in Nigeria by Actuaries Without Borders in collaboration with the College of Insurance and Financial Management.

Description: Actuarial activity in Azerbaijan commenced in 2008 with the enactment of the insurance law. The Actuarial Association of Azerbaijan was created in that year. The insurance law prescribes an official roster of actuaries who qualify after passing an exam. There is also the position of “appointed actuary” who reports directly to the board of directors of the insurance company. However, due to the relatively fast development of the insurance market, there is an urgent need of qualified actuaries. Actuaries Without Borders and the International Actuarial Association have thus helped in the capacity building process. This article describes the workshop that was held in Baku, in December 2019.