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 2015
07
Interviews

Q&A: Nikolas Kefallinos (Greece) 

Open-access content Tuesday 30th June 2015 — updated 5.13pm, Wednesday 29th April 2020

I was born and live in Greece and work for Ernst & Young in Athens. I am a student actuary specialising in non-life and risk - mostly related to the quantitative elements of the Solvency II framework.

2


I was born and live in Greece and work for Ernst & Young in Athens. I am a student actuary specialising in non-life and risk - mostly related to the quantitative elements of the Solvency II framework.

Outside the actuarial world, I am one of the shareholders of a company that promotes music and the arts in general. When I find some free time I spend it playing basketball and other sports with friends, listening to music and watching movies.

 

Why did you decide to study and work in this specific field? 

Given the theoretical nature of a pure mathematics undergraduate degree I was keen on specialising in a field that is closely related to applied mathematics and statistics and so I continued to study by pursuing a MSc in actuarial science and risk management.

 

Which actuarial society are you a member of?

I am a member of the IFoA.


Which actuarial fields are most dominant in your country and why?

In past years the life business would be considered as dominant. However, more recently growth in the non-life actuarial field has been observed since companies have begun to use more 'sophisticated' methods. The non-life sector is expected to develop significantly in the near future. 


Tell us a bit about the industry or market that you work and study in? 

I have already worked on projects for the largest insurance companies in Greece, Italy, Turkey and Cyprus covering a wide range of different assignments from technical reserves estimations to embedded valuations. 

 

What kind of support do students get in your company?

There is a structured plan for study leave, which depends on the course the student will be examined on. The costs of exam fees and study materials are also covered.


Is there an actuarial student society in the area where you work?

Not a student society as such, but there is the Hellenic Actuarial Society which established the profession in Greece.


What do you believe are the social and economic drivers for actuarial work in Greece? 

The main social-economic drivers are related to healthcare and pension issues. Until recently, the main healthcare coverage was provided by the state but due to the recession, the government's budget for the healthcare system has been decreased dramatically. 

Therefore, the private healthcare insurance business has already seen notable development, which is expected to increase in the near future. Similarly, the pension system is expected to be restructured, which in combination with an ageing population, can be considered a very hot topic. 


What's the reputation and image of actuaries Greece? 

In general, the profession is highly regarded - at least by other professionals who know what an actuary does. During the last year, possibly due to the upcoming Solvency II implementation, the number of actuaries has begun to increase. 

The Hellenic Actuarial Society is currently under reorganisation in order to enhance the quality of its study programme.


What are your views on the role of an actuary in the market you work in, now and in the future?

Most actuaries work in insurance companies in actuarial and the risk management functions. They have a very important role within an insurance company, as they have a wide range of responsibilities, such as pricing, reserving, capital modelling.

 

Is the skill set of an actuary being recognised across many non-traditional disciplines in Greece?

It is true for the insurers' risk management departments, which mostly consist of actuaries. On the other hand, the banking sector has not yet absorbed professionals with actuarial experience; that is expected to happen in the near future.


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

From day one I tried to learn quickly, in depth and with minimum supervision in order to improve my skills and develop professionally. In general, this is something that is encouraged by the company.


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

The immediate goal is to become a qualified actuary. In the long term I would like to specialise in capital modelling related to non-life underwriting risk.


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

A professional that uses applied mathematics and statistics to assess an insurance company's risks.


How will you celebrate when you qualify?

I will probably organise a multi-day party.

This article appeared in our July 2015 issue of The Actuary .
Click here to view this issue

You may also be interested in...

2

Q&A: Joshay Harkoo (South Africa)

I was born and live in South Africa, and currently work at Sanlam in Cape Town, specialising in life insurance, while also studying for my actuarial exams.
Tuesday 30th June 2015
Open-access content
2

Q&A: Jonathan Allenby (UK)

I am a student actuary working for Ernst & Young in London.
Tuesday 30th June 2015
Open-access content
2

Q&A: Jessica Hussong (USA)

I was born in the United States of America and currently work for Praedicat in Los Angeles, California.
Tuesday 30th June 2015
Open-access content
2

Q&A: Lemdani Mustapha (Spain)

I was born in Algeria and moved to France just after high school. I studied mathematics and economics in two of the top French engineering schools.
Tuesday 30th June 2015
Open-access content
2

Q&A: Leonel Rodrigues Lopes Junior (Brazil)

I am a PhD student currently studying at Cass Business School - City University, London. I am from Belo Horizonte, capital of the Minas Gerais state, Brazil.
Tuesday 30th June 2015
Open-access content
2

Q&A: Francois Kocks (South Africa)

I was born and raised in South Africa. I currently work at Ernst & Young (EY) in Cape Town. I am academically qualified, and in the process of completing my work-based skills for submission to the Actuarial Society of South Africa (ASSA).
Tuesday 30th June 2015
Open-access content

Latest from Professional

dxf

Bespoke tailoring: the UK government’s proposed reforms to Solvency II

Vrishti Goel discusses the UK government’s proposed reforms to Solvency II
Wednesday 31st August 2022
Open-access content
Financial services seen as most desirable sector for career changers

Financial services seen as most desirable sector for career changers

Over a third of UK workers will look to start a new career in the next year due to the cost-of-living crisis, with financial services seen as the joint most desirable sector, KPMG research suggests.
Wednesday 24th August 2022
Open-access content
web_p43_Student_student_july_2_CREDIT_Simon-Scarsbrook.jpg

Three’s a charm: the next iteration of the internet

Adeetya Tantia explains what we can expect from the next iteration of the internet, and how it could shake up the insurance industry
Wednesday 6th July 2022
Open-access content

Latest from July 2015

Around 8,000 small and micro employers have no plans for auto-enrolment

There are around 8,000 small and micro employers due to stage between June and November who have not drawn up plans to meet their auto-enrolment duties.
Friday 31st July 2015
Open-access content
ta

Multinationals face extra hurdles under Solvency II

Multinational insurers with offices outside the EU will need to define how they are supervised as a group under the Solvency II directive.
Friday 31st July 2015
Open-access content

Pension industry 'must sort out' exit fees, says Downing Street

The UK government is looking at ways to address exit fees for those looking to access their pensions.
Thursday 30th July 2015
Open-access content

Latest from small_opening_image

2

COVID-19 forum for actuaries launched

A forum for actuaries has been launched to help the profession come together and learn how best to respond to the deadly coronavirus sweeping the world.
Wednesday 25th March 2020
Open-access content
2

Travel insurers expect record payouts this year

UK travel insurers expect to pay a record £275m to customers this year as coronavirus grounds flights across the world, the Association of British Insurers (ABI) has revealed.
Wednesday 25th March 2020
Open-access content
2

Grim economic forecasts made as countries lockdown

A sharp recession is imminent in the vast majority of developed and emerging economies as the deadly coronavirus forces businesses to shut down across the world.
Tuesday 24th March 2020
Open-access content

Latest from missing_standfirst

news in brief

March news in brief

Paper: A Cashless Society in 2019 Cash is under pressure. A tense 2018 led to a tumultuous 2019: Facebook's announcement of plans to launch its Libra cryptocurrency with a consortium of companies united all regulators against the project.
Friday 28th February 2020
Open-access content
2

Forging new paths

The Terminator is coming!  At least that's one potential vision of the future, invoked by Boris Johnson at the UN last year while he speculated about artificial intelligence (AI). We can certainly debate how realistic that vision is, and what the possible timescales might be.
Friday 28th February 2020
Open-access content
2

Expert advice

This edition of the magazine focuses on data science and its applications, which will be a recurring theme for the IFoA.
Friday 28th February 2020
Open-access content

Latest from Interviews

rdth

Make My Money Matter's Tony Burdon on the practical power of sustainable pensions

Years working in international development showed Tony Burdon, head of Make My Money Matter, that sustainable pensions can harness trillions of pounds to build a better world – at a scale governments and charities can’t. He talks to Travis Elsum
Wednesday 1st March 2023
Open-access content
iugu

Interview: chemist and climate expert Sir David King on how actuaries can save the Arctic

Actuaries can save the Arctic, according to esteemed chemist and climate-change expert Sir David King. He tells Alex Martin that risk management is as relevant to preserving the planet as groundbreaking science
Wednesday 1st February 2023
Open-access content
res

Interview: Tim Harford on the importance of questioning our assumptions

Tim Harford speaks to Ruolin Wang about why it’s so important to slow down and question things from emotive headlines to the numbers and algorithms we use in our work
Wednesday 30th November 2022
Open-access content

Latest from missing_teaser_text

Obituary: Ragnar Norberg

Thursday 1st February 2018
Open-access content
2

Obituary: Ted Belmont (1950-2017)

Obituary: Ted Belmont (1950-2017)
Wednesday 10th January 2018
Open-access content
2

Q&A: Sharad Bajla (Singapore)

Sharad Bajla is an actuary at Asia Capital Re in Singapore, and is originally from India
Wednesday 6th July 2016
Open-access content

Latest from 07

2

RGA

The international actuary issue serves as a reminder of what a truly global profession it is. Our aim is to provide a snapshot of the roles, responsibilities, risks and challenges of actuaries on the global stage. We have invited student and newly qualified actuaries living and working in an international capacity to discuss their experiences and provide an insight into the actuarial practices of their own homelands.
Wednesday 1st July 2015
Open-access content
2

Q&A: Roopal Shard (India)

Wednesday 1st July 2015
Open-access content
2

Making great strides in US/UK pension risk management

Jeremy Lee talks to RiskFirst managing director, Matthew Seymour, about the differences in approach to pension risk management in the UK and US, and the role of pension risk analytics
Wednesday 1st July 2015
Open-access content
Share
  • Twitter
  • Facebook
  • Linked in
  • Mail
  • Print

Latest Jobs

Senior Manager - Building new team!

London (Central)
Up to £130k + Bonus
Reference
148845

Shape the Future of Credit Risk Model Development

Flexible / hybrid with 2 days p/w office-based
£ six figure salary with excellent bonus potential + package
Reference
148843

Longevity Director

Flexible / hybrid with 2 days p/w office-based
£ six figure salary with excellent bonus potential + package
Reference
148842
See all jobs »
 
 
 
 

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