The supreme body of the pension fund (board of trustees) is responsible for the overall management of the pension fund. The non-transferable and inalienable duties of the supreme body include the following tasks among others: the setting of the financing system and comprehensibly designing, monitoring, and controlling the asset management to improve the returns and […]
The aging population presents serious challenges for traditional pay-as-you-go pension systems. Longer life expectancies increase pension expenses while low birth rates weaken the future contribution base. A buffer fund can help alleviate these problems. However, this raises questions about how much insured should contribute and how big the fund should be. Ideally, the contribution […]
The economic model of insurance is based on mutualization. Roughly speaking, this consists in considering that the good results of the majority of the insureds compensate for the losses linked to the claims of a minority. Mathematically, it is based on the law of large numbers and the central limit theorem. But new risks, on […]
The economic model of insurance is based on mutualization. Roughly speaking, this consists in considering that the good results of the majority of the insureds compensate for the losses linked to the claims of a minority. Mathematically, it is based on the law of large numbers and the central limit theorem. But new risks, on […]
The Communication for Actuaries course is tailor-made for actuaries and the situations that you encounter. It is an interactive training course that ensures that the theory is immediately applied through various exercises (e.g. exchanges in small groups, role-plays, discussions) that relate to terms or situations of your day-to-day work. The course is designed to […]
This session aims at describing the similarities and differences between the financial and prudential frameworks applicable to insurers. After a general overview, we will focus on discount rates and risk margin/risk adjustment including the expected changes from the review of Solvency II. A case study will then illustrate the application of those concepts to an […]
Natural Catastrophe Models are a key ingredient for the assessment of Nat Cat risk. Questions like “What losses do we expect from catastrophic events on average?” and “What losses do we need to expect in the worst case?” are becoming more and more relevant, in particular considering climate change. Natural Catastrophe Models try to answer […]
This session aims at giving an overview of the initiatives taken by EIOPA on Sustainability. We will then focus on ORSA explaining best practices on materiality assessment and scenarios. A summary of existing stress tests will be presented. We end up with a survey on climate ORSA. Anmeldeschluss: 2023-11-08
Recent developments and events have put some Emerging Risks in the spotlight, such as geopolitical risk, artificial intelligence, and climate change. However, there is a large number of further topics in the Emerging Risks universe that might warrant equal attention. Their assessment will always have to be specific to the individual company and its activities […]
Various practical techniques and insights used in institutional asset management are less known to actuarially trained persons. As is often the case with practical applications, when you have seen an example, you appreciate a method. The course is divided into two-morning sessions from 9:00 to 12:30 with a half-hour break. The course has two aims. […]
Actuaries are very experienced in modelling financial risks either stemming from population dynamics or from random events. Probability theory and statistics is their daily bread. But there are many other phenomena out in the world without having a direct financial impact but should be understood by actuaries as well. This web session is about models […]
The web session "A Refresher Course in Financial Mathematics" gives an introduction to modern financial mathematics and derivative pricing. It is designed to prepare actuaries without adequate training in these fields for the quantitative parts of the CERA education. The web session is moreover an ideal learning opportunity for actuaries who want to become acquainted […]
