Description: After International Accounting Standards Board (“IASB”) issued International Financial Reporting Standard No. 17 – Insurance Contracts (“IFRS 17”), IASB received much feedback and suggestions for improvement. As a result, in early 2019, IASB made limited changes to IFRS 17. The presentation will briefly discuss the main contents and effects of those changes.

Description: Since the international financial crisis, accounting standards have become an important part of financial supervision rules, which objectively requires us to study the reform and development of accounting standards from the perspective of financial stability. Since the release of IFRS17 in 2017, the research and discussion of IFRS17 in the insurance industry has focused on technical details and implementation, while the economic impact and pros and cons analysis of IFRS17 are few. As a result, the industry's understanding of IFRS17 is not comprehensive enough, and there are still many disputes, and no industry consensus has been formed. In the future, the insurance industry should strengthen the research and analysis of IFRS17 from the perspective of financial stability, deepen the understanding and cognition of IFRS17, and improve the ability to control and use IFRS17.

Description: The SOA's Competency Framework for Actuaries is a tool to help actuaries make decisions related to their individual professional development and career management plans. It applies systematic, sound approaches to selecting professional development opportunities, focusing on the skills needed to go beyond technical and specific actuarial analysis. This is an Excel file that facilitates that process by providing a personal planning workbook.

Description: Accounting Standards Update No. 2018-12, Financial Services – Insurance (Topic 944): Targeted Improvements to the Accounting for Long-Duration Contracts (LDTI) has been effective for most large, public business entities since 2023 and will be effective for other insurers in 2025. While the guidance clarifies the need for incorporating claim liabilities and premium accrual balances in the liability for future policy benefits (LFPB) under LDTI, companies may still have questions given there are limited details available around the techniques used in practice. In this article, we demonstrate the need for incorporating claim liabilities and premium accrual balances in the LFPB under LDTI. We also look at two potential approaches of incorporating these accrual balances.

Description: As the insurance industry continues to evolve due to a pandemic and rapidly changing economic and regulatory conditions, the role of data scientists and actuaries has become increasingly important. In an interview with the Atidot data science and actuarial team, we discuss what it is like to work at an InsurTech, how data scientists and actuaries can collaborate, and look at some concrete technical examples of where the innovation is having an impact. This article explores what collaboration can look like and how the role of data science and actuary may evolve in the InsurTech industry in the future.

Description: The February/March 2016 edition of The Actuary magazine—the Society of Actuaries’ flagship publication.

Description: As China’s population officially ages, the government has now escalated reform of China's social security system to a national strategic level. The report of the 19th National Congress further mentioned construction of an old-age security system and social environment, painting a bright future for development of the pension industry. At the moment, development of China's pension industry is beginning a new journey. Learn about the current status and future development of pillar 2 pension, which is core to China's pension system; framework and operation management overview of Enterprise Annuity and Occupational Annuity; possible evolution paths in contribution payment methods’ investment operation models, and development of professional pension managers.

Description: Description and welcome to the 2020 Canadian Reinsurance Conference including highlight of the key note speaker

Description: Gather with members and non-members in the China actuarial community to discuss recent topics and related issues in areas such as macroeconomic sharing, pension, investment, product strategy, and more.

Description: The SOA has recognized the actuarial programs at Purdue University, West Lafayette, IN, and Robert Morris University, Moon Township, PA, as University-Earned Credit (UEC) Centers of Actuarial Excellence (CAE).