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The Actuary The magazine of the Institute & Faculty of Actuaries

Casualty actuary honoured

Gary Venter has been named the recipient of the International Actuarial Association’s (IAA) Bob Alting von Geusau Memorial Prize.

The award is presented annually by the IAA’s AFIR section for the best contribution to the ASTIN Bulletin on a subject related to AFIR. Mr Venter received the award at the 28th International Congress of Actuaries in Paris for his research paper titled, ‘Testing distributions of stochastically generated yield curves’. The paper addresses the question of how to simulate bond yield curves in an insurance company’s financial model. In the paper, Mr Venter discusses how to test the distribution of yield curves in simulated financial scenarios against historical data.

‘I am honoured to be recognised by the IAA and AFIR with this prestigious award’, said Mr Venter (brother to Craig Venter of human genome research renown).

‘Through both its annual colloquia and the ASTIN Bulletin, the AFIR provides an invaluable service for those of us working in the areas of finance, financial economics, and financial risk management.’

‘This award is particularly meaningful to me, as I knew Bob Alting von Geusau personally. He is missed as both an influential leader in this area and a dear colleague’, added Mr Venter.