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The Actuary The magazine of the Institute & Faculty of Actuaries
Sunday 21 July 2019
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Opinion

  • Derek Cribb Transition to a simpler frameworkA little over two months has now passed since the Financial Reporting Council's revised framework of Technical Actuarial Standards (TASs) came into force. For many of our members carrying out work within the scope of the standards, the transition has passed without much ado. In general, the simplification of the framework and the consolidation of the old, generic TASs into a single, high-level generic TAS (the TAS 100) have been welcomed
  • Let's take devolution to the limit Let's take devolution to the limitIcki Iqbal suggests an innovative, more individualised, way of funding the NHS and social care
  • Social media comments!Social media comments!Honorary fellows are eminent individuals in business, academia and government.
  • Once is misfortune, twice looks like carelessnessIn an opinion piece for The Actuary magazine in October 2016 (bit.ly/fundamentalFLAW) I highlighted a fundamental flaw in the EIOPA formula for calculating the risk margin.
  • Data-science-iStock-501642612 Are actuaries competitive in data science?It has been said that actuaries were the first 'data scientists' but can we still describe ourselves as such, asks Colin Priest
  • p4-Richard_Purcell Slowing advancesThe slowing pace of mortality improvements observed recently for the UK general population has generated much discussion in the actuarial and political community, and even made the national headlines. It's a trend seen elsewhere in the world too, and so in this issue we put the spotlight on these changes.
  • Polls and predictionsThe statistics of voting are now topical, so the time is ripe to comment on the remarks journalists have been making. Shortly after the UK election exit poll, a former Lib Dem MP, Ming Campbell, commented to this effect: One thing is certain, Theresa May will not get the huge landslide result she sought.
  • Erratic expectationsI was interested to learn from Alex Waite's July article (bit.ly/AnimalSpiritsAW) there is an Economic Modelling Group aiming at improving forecasting of economic outcomes. I wish this the best of luck, but would not be surprised if the results prove inconclusive. Honorary fellows are eminent individuals in business, academia and government.
  • Marjorie Ngwenya Transformation aheadIt is a time of change. This brings about challenges, opportunities and risks, and I am honoured to be taking on the leadership of the IFoA at such a time. I believe that the skills and value actuaries can bring are more relevant and needed than ever before.
  • Derek Cribb Inconsistencies in our constituenciesRecently, and what seems to have been more frequently than in any other decade, we have taken ourselves to the ballot box at a national and local level, exercising our right to make our voices heard. Certainly in the last few years, we have seen the unexpected (or expected in some cases) occur based on the will of the people. In some of the more notable and historically altering elections, the outcome may have been decided by a disillusioned electorate tired of what they are presented with.
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