Description: Description of the stage of development of economic risk-based solvency regulation in Latin America, with focus on Brazil, Mexico, Chile, Colombia, and Peru.

Description: Brief description of the actuarial profession in Switzerland, the success story of the Swiss Solvency Test (SST), and some features of the insurance market.

Description: In the Leadership & Development Section’s Leadership Inspiration Contest, entrants were asked to tell us what inspired them to be a better actuarial leader. Carlos Arocha submitted an entry from the “Defining Moment/Event” category.

Description: Geoeconomic fragmentation is reshaping the global risk landscape in profound ways, with significant implications for the insurance industry and actuarial professionals. The disruption of traditional models of risk diversification, the growing demand for specialized insurance products, and the increased volatility of financial markets all require actuaries to reassess their approaches to risk management, pricing, and capital allocation. By embracing scenario planning, enhancing geopolitical intelligence, and adapting their models to reflect the new realities of a fragmented world economy, actuaries can help insurers navigate this uncertainty and continue to provide essential protection to businesses and individuals in an increasingly unpredictable global environment.

Description: In this session, presenters will share the impacts of transition to IFRS 17 on equity and various KPIs across insurance companies (Life & P&C), as well as share some observations of what the IFRS 17 landscape looks like across different global regions. The session will conclude with lessons learned and expectations for emerging practices under IFRS 17 globally.

Description: This article by Carlos Arocha explores the protection gap throughout Latin America for coverage against natural catastrophic events. As climate change has increased both the frequency and severity of these events, coverage gaps have weighed on both household and public sector economics. In the article, Carlos highlights different methods for evaluating the size of this protection gap, and discusses a number of different ideas for closing this gap, through private sector initiatives, public sector changes, or private-public partnerships.

Description: Describes the risk-based capital measure adopted in Switzerland.

Description: Notes about the 4-day training seminar sponsored by SOA (LAC Committee), CAS and the Colombian Actuarial Association, held in Bogotá, Colombia, in May 2018.

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: The article details the history and educational requirements of the Swiss Association of Actuaries (SAA). The actuarial profession in Switzerland is well-positioned to meet the challenges of regulation, economic capital and insurance financial reporting.