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The Actuary The magazine of the Institute & Faculty of Actuaries

Lithuanian actuaries

The Faculty, through the 150th Anniversary Committee, sponsored 12 recently qualified actuaries, all from new EU countries, to the GC Colloquium in Edinburgh.

Lithuania is not unknown to Scots. Several thousand football fans visited Lithuania this year to support their team in the European qualifying group game. The Scots played better and won! Ten years ago, in 1996, Andrew Cairns and Roger Gray from Heriot-Watt University were lecturers on the basic actuarial diploma course, which ran at Vilnius University for Estonian, Latvian, and Lithuanian actuaries. These basic – and later advanced – actuarial courses (a great initiative by the UK) played an important role in actuarial development in the Baltic countries.

The Lithuanian Actuarial Society is ten years old and has only 28 members. It is a full member of the Groupe Consultatif. Actuarial education in Lithuania is university-based. There is a course, financial and actuarial mathematics, at the Faculty of Mathematics and Informatics of Vilnius University, which is in the top ten most popular university courses in the whole of Lithuania.Normally, to become a member of the Lithuanian Actuarial Society you must be a graduate of this course, but there are other ways of becoming a member.

In its 150th year we must cherish the Faculty’s actuarial traditions. The whole of 2006 is devoted to celebrating the Faculty’s 150th anniversary. One of the events in this anniversary year was the 19th Groupe Consultatif Colloquium in Edinburgh. To visit Scotland and to participate in the colloquium was a longstanding dream of mine.

Thanks to the fund raised by the Faculty, actuaries from countries which acceded to the EU in 2004 had the opportunity to take part in the Edinburgh colloquium.

It would be difficult to distinguish one lecturer or topic from another presented at the colloquium. The general impression is more important.

My other dream would be to use our common European funds (Erasmus/Socrates programme) to enable Vilnius University students to go to Heriot-Watt University to attend classes given by outstanding academics in actuarial science.