Description: Given all the noise surrounding the topic of avian influenza today, how can actuaries distill the mass of information—which is often conflicting—into the critical questions to raise and explore within their own organizations?

Description: Since the issuance of IFRS 17 in 2017, the global insurance accounting standard, insurers across the globe have been making huge investment in assessing the impact and implementing the new standard. In late 2018, FASB issued ASU 2018-12 that revises key elements of the U.S. GAAP measurement models and disclosure requirements for long-duration contracts issued by insurers (also called FASB Targeted Improvements). Both standards are becoming effective 1/1/2021 (though IFRS 17 may potentially be deferred by a year). U.S. insurers that have international parents or subsidiaries, and report under a multi-GAAP environment will likely have to adopt both standards. By now most insurers should have nearly completed impact assessment for IFRS 17, designed road map for or have started the implementation journey. With the new U.S. GAAP requirements becoming effective concurrently, it is important to embark on the implementation journey with both standards in mind, and maximize the synergy to achieve cost-saving and design efficiency. This session will briefly introduce the two standards with a conceptual comparison, along with a discussion on where efficiency and synergy can be achieved in a concurrent implementation.

Description: The Survey of Emerging Risks has been successfully conducted in North America for 15 years, which provides a consistent report by tracking the opinions of risk managers on the emerging topics beyond the current business cycle with strategic plans over decades. For the first time the survey is also being specifically introduced in China and Greater Asia, with the aim of surveying the actuarial and risk management professionals' opinions on emerging risks in the local market. In relation to the Society of Actuaries, Greater Asia is defined as markets that participate in our Greater Asia Committee. These are additional areas outside of mainland China that include markets such as Hong Kong, Indonesia, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand and Vietnam. The survey is sponsored by the Society of Actuaries (SOA) Research Institute and comprises both quantitative and qualitative questions in English and Chinese (Simplified). With a wide range of response options and allowing for anonymous comments, the survey results serve as a platform to share the risk views of local actuaries and risk managers in China and Greater Asia.

Description: This article provides an introduction to group supervision and group capital and its importance in today's increasingly global insurance market. Additionally, the article examines the various methods used in practice for calculating group capital and the factors that companies should consider as they develop their group capital management strategy.

Description: 2011 Enterprise Risk Management Symposium, Chicago. This is the abstract of the entitled paper.

Description: In this article, the author discusses the global ERM credential.

Description: Note developed by the IAA for insurers to support the ERM Standards and Guidance materials developed by the International Association of Insurance Supervisors for supervisors.

Description: Discover the latest insights on emerging risks in the Indian market with our comprehensive survey report. Uncover key findings on financial volatility, disruptive technology, and climate change, and learn how AI is reshaping risk management. Compare these results with North American trends and explore the optimistic economic outlook for the India market in 2025.

Description: This session will highlight the growing significance of climate risk for insurance companies, emphasizing how to prepare for regulatory requirements as well as the impacts on financial stability and operational resilience within the industry. Attendees will gain insights specifically addressing climate risk within insurance operations including enhancing governance structures, ensuring regulatory compliance, identifying and monitoring metrics and key risk indicators, and conducting scenario analyses. Through real-world case studies and perspectives from both life and property and casualty practitioners, participants will leave equipped with practical strategies to navigate the complexities of climate risk management, foster transparency and accountability, and effectively address the urgent challenges posed by climate risk within their organizations. Learning Objectives: - Understand the evolving landscape of climate risk and regulatory requirements for climate risk disclosure - Gain insights into effective approaches and current best practices that actuaries and risk modelers may use in performing qualitative and quantitative climate risk scenario analyses - Learn practical strategies for integrating climate risk considerations into insurance operations

Description: The Survey of Emerging Risks has been successfully conducted in North America for 15 years, which provides a consistent report by tracking the opinions of risk managers on the emerging topics beyond the current business cycle with strategic plans over decades. For the first time the survey is also being specifically introduced in China and Greater Asia, with the aim of surveying the actuarial and risk management professionals' opinions on emerging risks in the local market. In relation to the Society of Actuaries, Greater Asia is defined as markets that participate in our Greater Asia Committee. These are additional areas outside of mainland China that include markets such as Hong Kong, Indonesia, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand and Vietnam. The survey is sponsored by the Society of Actuaries (SOA) Research Institute and comprises both quantitative and qualitative questions in English and Chinese (Simplified). With a wide range of response options and allowing for anonymous comments, the survey results serve as a platform to share the risk views of local actuaries and risk managers in China and Greater Asia.