Skip to main content
The Actuary: The magazine of the Institute and Faculty of Actuaries - return to the homepage Logo of The Actuary website
  • Search
  • Visit The Actuary Magazine on Facebook
  • Visit The Actuary Magazine on LinkedIn
  • Visit @TheActuaryMag on Twitter
Visit the website of the Institute and Faculty of Actuaries Logo of the Institute and Faculty of Actuaries

Main navigation

  • News
  • Features
    • General Features
    • Interviews
    • Students
    • Opinion
  • Topics
  • Knowledge
    • Business Skills
    • Careers
    • Events
    • Predictions by The Actuary
    • Whitepapers
    • Moody's - Climate Risk Insurers series
    • Webinars
    • Podcasts
  • Jobs
  • IFoA
    • CEO Comment
    • IFoA News
    • People & Social News
    • President Comment
  • Archive
Quick links:
  • Home
  • The Actuary Issues
  • July 2014
07
Interviews

Hélio Silva

Open-access content Thursday 3rd July 2014 — updated 5.13pm, Wednesday 29th April 2020

Hélio was born in a small town in Torres Vedras, 30 miles from Lisbon. He currently works for the Insurance and Pension Funds Supervisory Authority of Portugal. Despite his fanaticism for Lisbon, he enjoys travelling and discovering new cultures and customs. He is a member of the IFoA.

2

Which actuarial field do you specialise in?

I am currently working in the general insurance and non-life business sectors, but my ambition is to become an expert in catastrophe insurance.

Which actuarial fields are the most popular in Portugal and why?

One of the principal insurance topics is the workers' compensation product. It is mandatory and covers against accidents that occur during working hours. It is very similar to some of the health products but has a few peculiarities.

For this reason, in order to model it, you are required to be an expert in both life and non-life techniques, so it is usual for actuaries to specialise because of the complexity.


Can you tell us a bit about the industry or market you work in?

The Portuguese market is not a very big one, we only have 40 insurance companes, one reinsurance company and one mutual insurance company. 


What led you to choose to study for an actuarial qualification with the IFoA?

My masters degree in actuarial science has an exemption agreement with the IFoA but not for all the CTs, so I decided to finish at least the CTs because I think that a qualification like this one is more appreciated and accepted across Europe.


Which of the actuarial exams do you consider the most difficult and why?

I have not attempted all the exams but the main obstacle is time. It can be difficult to manage the three-hour period efficiently during the exams.


In how many years do you expect to qualify?

Hopefully, I can finish all the exams in the next four years.


What kind of support do students typically get in your company and elsewhere?

My company fully supports me in this qualification, but I know that this is not the case for all insurance companies in Portugal.


Is there an actuarial student society in the area?

No, we do not have one here in Portugal.


What would you say are the 'hot' topics in your industry?

With the implementation of Solvency II, the hot topics are related to all the new requirements, both quantitative and qualitative, and the outlines and specifications of that work.In addition to this, younger actuaries seem to have an interest in the development and implementation of internal models.


What's the reputation of actuaries in your country?

I think necessary steps need to be taken in order to recognise the actuarial role as an important one.

I sometimes feel that the work of an actuary is underestimated, but hopefully this will change in the future.


How would you describe a typical day at work?

This would depend on the type of work I am doing, but the majority of my days I would define as a constant learning process, with the usual daily obstacles to overcome.


What were the influences that shaped your career decisions to date?

My main influence resulted from my studying for my bachelor degree in mathematics. 

This gave me a strong foundation, and introduced me to the actuarial world. For that, I am grateful to all my professors and colleagues.


Could you tell us about your immediate and longer term goals?

My immediate goal is to finish the actuarial qualifications of the IFoA. As for the future, my aim is to be considered as a professional 

of excellence.


What do you say when asked, "What is an actuary?"

I generally have two answers, the quick and the more elaborate - the quick version is, someone that uses mathematics to achieve prices for your insurance contracts. It can be difficult for a lot of people to understand what an actuary does, so I prefer not to talk about it too much.


How will you celebrate on your day of qualification?

I haven't really thought about it, but when that day comes it will definitely be memorable. 

It will be an unforgettable day.

This article appeared in our July 2014 issue of The Actuary .
Click here to view this issue

You may also be interested in...

2

Brice Balagourou

Brice is a 23-year old French actuarial consultant working for the Pericles Group (Paris). His interests include travel and watching American and Asian cinema. He is a member of the English Drama Association and is co-treasurer of “Les Actuaires De Dauphine”. He is a member of the Institut des Actuaires.
Thursday 3rd July 2014
Open-access content
2

Miguel Seixas

Born in Portugal, Miguel is a 24-year old graduate in mathematics applied to economics and management, and an MSc in Actuarial Science, from the ISEG, University of Lisbon. He currently resides in Madrid working for AXA. His passions include live music and travelling. He is a member of the IFoA.
Thursday 3rd July 2014
Open-access content
2

Jurjen Boog

Born and raised in the city of Almere, Jurgen is now based in Amsterdam working for Towers Watson, specialising in general insurance. During his studies in Groningen he did not hesitate to try his hand at lacrosse, a fast-paced and spectacular sport. He spends most of his free time with friends and family.
Thursday 3rd July 2014
Open-access content
2

Maijabeen Datay

Maijabeen was born in South Africa and currently works as an actuarial analyst for Towers Watson in Cape Town. Her hobbies include painting, sketching and baking. She also enjoys hiking and spending time with her family and friends. She is a member of the Actuarial Society of South Africa (ASSA).
Thursday 3rd July 2014
Open-access content
2

Besijana Mati

Besijana works at PricewaterhouseCoopers in Toronto, Canada. She is an avid long-distance runner and enjoys competing in trail running races. Another passion is playing classical music on the piano. Besijana speaks four languages and so favours watching foreign films, with her close circle of friends.
Thursday 3rd July 2014
Open-access content
2

Luiz Bueno

Luiz was born and raised in São Paulo. He works as a life and health products actuary for Swiss Re. In 2013 he completed an MSc in Actuarial Science at Cass Business School, London. His interests include Portuguese and Brazilian literature, and good movies. He is a member of the IFoA.
Thursday 3rd July 2014
Open-access content
Filed in
07
Also filed in
Interviews
Topics
Professional
Share
  • Twitter
  • Facebook
  • Linked in
  • Mail
  • Print

Latest Jobs

Senior Reserving Analyst

London (City of)
Negotiable
Reference
149485

Senior GI Modeler - Capital and Planning

London (Central)
£ excellent
Reference
149436

Risk Oversight Manager

Flexible / hybrid with a minimum of 2 days per week office-based
£ excellent
Reference
149435
See all jobs »
 
 

Today's top reads

 
 

Sign up to our newsletter

News, jobs and updates

Sign up

Subscribe to The Actuary

Receive the print edition straight to your door

Subscribe
Spread-iPad-slantB-june.png

Topics

  • Data Science
  • Investment
  • Risk & ERM
  • Pensions
  • Environment
  • Soft skills
  • General Insurance
  • Regulation Standards
  • Health care
  • Technology
  • Reinsurance
  • Global
  • Life insurance
​
FOLLOW US
The Actuary on LinkedIn
@TheActuaryMag on Twitter
Facebook: The Actuary Magazine
CONTACT US
The Actuary
Tel: (+44) 020 7880 6200
​

IFoA

About IFoA
Become an actuary
IFoA Events
About membership

Information

Privacy Policy
Terms & Conditions
Cookie Policy
Think Green

Get in touch

Contact us
Advertise with us
Subscribe to The Actuary Magazine
Contribute

The Actuary Jobs

Actuarial job search
Pensions jobs
General insurance jobs
Solvency II jobs

© 2023 The Actuary. The Actuary is published on behalf of the Institute and Faculty of Actuaries by Redactive Publishing Limited. All rights reserved. Reproduction of any part is not allowed without written permission.

Redactive Media Group Ltd, 71-75 Shelton Street, London WC2H 9JQ