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The Actuary The magazine of the Institute & Faculty of Actuaries

Networking evening

A 100% correlation between the seeking of additional capital and a loss of confidence in the chief executive was just one of the risks underlined in a stimulating address by John Hele of ING to an audience of almost 100 at Staple Inn on Monday 13 February.

John showed how the relative perceived riskiness of banking and insurance had changed in recent years thanks to relatively poor insurer risk management and told his audience that ING actuaries were now truly accountable for risk in their business units.

John’s slides will shortly appear on the profession’s website.

Global news

  • The Australian regulator (www.apra.gov.au) has published a set of standards for general insurers, including a risk management standard.
  • HM Treasury (www.hm-treasury.gov.uk) was expected to publish in the latter part of February a document setting out its thinking on the new European Union approach to insurer supervision (Solvency 2).
  • The programme for the joint SOA-CAS-PRMIA enterprise risk management symposium to be held in Chicago in April has been published at www.ermsymposium.org.
  • A recent speech by Federal Reserve governor Susan Schmidt Bies on ‘The continuous challenges of risk management’ can be found at www.bis.org.

Write to mark.symons@actuaries.org.uk to let him know of any risk management news or resources you believe may be of general interest.