While European leaders are struggling to find a way out of the financial crisis, the Groupe Consultatif Acturiel Europeen is organising the first European Congress of Actuaries in Brussels on 7 and 8 June, which will look at how actuaries are dealing with the financial crisis, within the overall theme of The European Actuary of the Future.
It is clear that actuaries’ expertise in understanding and quantifying risk ensures that they are well-qualified to contribute to resolving the financial crisis. What is perhaps less recognised is that they also have a significant role to play in relation to other areas where risk has a financial dimension – climate change, longevity, pandemics, and energy supplies etc.
The target audience includes consulting, academic, and industry actuaries as well as other financial professionals, politicians and others interested in the future of risk management in Europe. Speakers include leading experts from the actuarial profession, as well as officials from the EU institutions; EIOPA; influential figures from the business community, and national regulators.
The format of the Congress will have three parallel streams:
-The stream on Solvency will look at the European actuarial world which is significantly affected as a consequence of the Solvency II Directive for insurers.
-The stream on Enterprise Risk Management is considered an exciting and important emerging working area for actuaries, since their technical skills have added value not only within the field of the financial industry, but in the so-called "wider fields" as well.
-The stream on the Role of the Actuary will look at whether the number of actuaries, although increasing, can meet the strong demand expected with the implementation of Solvency II for insurers, IFRS4 Phase II and the development of solvency rules for pension funds.
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