New editor Richard Purcell comments on developments within the industry, climate policy, and The Actuary team
As I write my very first editorial, change seems to be an overriding theme in many respects. One topic that is close to home for many of us is Solvency II. After more than a decade in development, hundreds of millions of euros invested, and countless hours of negotiation, we saw the new pan-European regulatory regime for insurers finally go live on 1 January 2016. While it is by no means perfect, Karel Van Hulle, one of the regime's original architects, reflects on the final outcome and warns against any hasty changes (p12).
Perhaps the biggest change affecting the world today is to the climate. Whatever your views on the subject, the United Nation's climate change conference in Paris no doubt exceeded expectations. In this issue, Mike Clark asks what climate change means for stranded assets (p30), while Simon Brimblecombe discusses the impact on social security systems (p17). Actuaries have a big role to play here too, and Nico Aspinall reflects on how we can best use our skills in risk management to support change (p28).
Our interview this month is with Lady Susan Rice.
A keen proponent of sustainability, she discusses the ways in which businesses and industry can also play their part (p14).
Lastly, we also see a few changes to the magazine itself. We welcome some new members to the editorial team this month; Sheila Harney, Stephen Hyams and Garry Smith join us as features editors.
I'd also like to thank my predecessor Kelvin Chamunorwa for his significant contribution over the past two years.
As you explore this issue you will see some small changes to the layout, which we hope you like.
We would love to hear your views on the magazine and what you think the big issues will be for the year ahead. So it just leaves me to wish you a prosperous 2016.
Richard Purcell
Editor