The Trowbridge report - a shakeup for life insurance

Cycling in Sydney - is it riskier than it used to be?

Life insurance in Australia - profits falling

Extreme weather events - they're not as extreme any more

APRA proposes changes to the role of Appointed Actuary

Appointed Actuary - Strategist?

Regular readers of this blog might recall some previous posts of mine on the role of the Appointed Actuary. APRA had asked the Industry and the Actuarial profession for views on how the role of the Appointed Actuary should change, given difficulties in recruiting (particularly in life insurance) and a perceived reduction in influence for the Appointed Actuary. APRA has now taken on the feedback, and proposed revisions to the role (pdf here). It’s a really thoughtful and helpful response. APRA has taken on board the major issues and, in some cases, gone further than the feedback recommended, in proposing changes that will help to pull the role away from compliance to assist it in becoming more strategic. First of all, APRA proposes a purpose statement for the Appointed Actuary. This was a key recommendation from the Actuaries Institute recommended. APRA’s proposed statement is: “The purpose of the Appointed Actuary role is to ensure that the…