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The Actuary The magazine of the Institute & Faculty of Actuaries
Tuesday 23 April 2019


  • Marjorie Ngwenya Marjorie Ngwenya on a year of progressThroughout my year as president, I have focused my energy around three goals for the profession: proactively seeking to be future fit, creating suitable professionals, and finding ways to serve our diverse membership.
  • Time to tackle an age-old issueIn the April issue, the president draws attention to the many implications for individuals in the ways in which we conduct our lives... of living beyond the age of 100... as actuaries we are well placed to deal with the many permutations that are implied.
  • Real-world riskIn the April issue, the IFoA Risk Margin working party responded to my letter of December 2017. In that letter, I had pointed out that, in my opinion, the risk discount approach of Hans Waszink was more appropriate than the EIOPA risk-free approach for calculating the cost of capital.
  • Looking forward to a global futureThe actuarial profession is one with multiple angles; it leverages a powerful quantitative skillset and techniques that apply to a variety of problems involving risk situations. Then it aims to make sense of those problems, interpreting the results of the analysis and facilitating informed decision-making.
  • IFoA response to student editorWe always like to hear from our learners, and I am sure your readers enjoyed your editorial in the last issue of The Actuary. I'd like to use these letter pages to respond directly to some of the issues you raised and to show how the IFoA is already 'on track' with some of these.
  • Letter in response to the Risk Margin Working PartyIn the April 2018 edition of The Actuary, the Risk Margin Working Party (WP) of the Institute and Faculty of Actuaries commented on the Risk Margin under Solvency II (bit.ly/2l7uAst).
  • Derek Cribb Giving good councilThe IFoA's annual general meeting, to be held at Staple Inn on 28 June, will not only see the inauguration of Jules Constantinou as our new president but also the IFoA Council election results.
  • Marjorie Ngwenya Striving for sustainabilityPreviously, I have written about the importance of the sustainable development goals (SDGs) and the ways in which our profession engages with the aims of the SDGs.
  • Francesco Sebastian Lessons definedProfessor Stephen Hawking, one of the greatest thinkers of our time, sadly passed away in March. His research on gravitational singularity changed the orbit of theoretical physics and cosmology. And his non-conformist personality earned him a place in our hearts.
  • Francesco Sebastian Green issuesEvery year, the spring season has two conflicting effects on me. The longer and brighter days raise my spirits and encourage me to bolster my vitamin D levels, by enjoying the outdoors
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