Most financial services companies these days have a risk management framework with three lines of defence. The diagram below shows the three lines of defence, as illustrated by a bank. So where does the Appointed Actuary fit into this picture? The original Appointed Actuary in the UK was effectively solelyContinue Reading
Regulatory change is a constant in most financial services areas these days. Insurance in Australia is no different. APRA is in the middle of a major upgrade to the regulatory capital regime for life and general insurers, which is due to start from 1 January 2013. So far, most ofContinue Reading
This article, from the US smart money magazine, is a fascinating look at the latest thinking on how long we are likely to live. You really should read it in full. It looks at the latest thinking on longevity, and what that means for retirement planning. Some US life insurersContinue Reading
I’m just back from a week’s holiday up in far north Queensland, so I’ve got a few books to review. First cab off the rank is HIH: the Inside Story of Australia’s Biggest Corporate Collapse. by Mark Westfield, who is the journalist who kept the pressure on HIH for mostContinue Reading
This week’s book review is The Great Influenza: The story of the deadliest pandemic in historyby John M Barry. The book is the story of the “Spanish Flu” – in 1918 and 1919 (depending on where you were in the world) a deadly influenza swept the world, killing between 50Continue Reading
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