Die Interessensvertretung der österreichischen Aktuare, Versicherungsmathematiker und versicherungsmathematischen Sachverständigen

How to Set Up an Effective ORSA Process? - A Case Study for a Company Using the Standard Formula

  • 22/23 May 2013 | Frankfurt/Main / Germany
  • Capital and Risk management has always been a key activity for both Life/Health and Property & Casualty (i.e. non-life) Insurance companies and Groups. The new risk based regulations under Solvency II lead to new and more formal challenges in this area: This includes a much more formal risk management approach and the need for conducting an "Own Risk & Solvency Assessment". This seminar is an advanced seminar and is set up as a case study for companies who plan to fulfil the Solvency II Pillar 2 requirements with a standard formula. A good understanding of the standard formula approach and the basics of ORSA are required (e.g. achieved via participating on the EAA basic seminar on "Own Risk and Solvency Assessment" or participating in ORSA projects).
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Actuarial Enterprise Risk Management (Part 1)

  • 28-30 May 2013 | Budapest / Hungary
  • In order to become a fully qualified member of your actuarial association, it is required to complete a course of study in line with the association's syllabus and also to meet other conditions (e.g. work experience) required by the association. European actuarial associations which are a member of the Groupe Consultatif Actuariel Européen (GC) have to meet the requirements as laid down in GC Core Syllabus.
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Solvency II for Starters

  • 6/7 June 2013 | Prague / Czech Republic
  • Solvency II is set to become the new capital adequacy regime for the European insurance industry. This will establish a revised set of EU-wide capital requirements and risk management standards that will replace the current solvency requirements for all 27 member states. The Solvency II requirements are set out in three pillars covering capital requirements (Pillar 1), governance and risk management requirements (Pillar 2), and reporting and disclosure requirements (Pillar 3). This seminar will provide an in-depth overview of all three pillars leaving participants with a good understanding of the structure, requirements and calculations under the forthcoming regime.
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Stochastic Modeling - Theory and Reality from an Actuarial Perspective

  • 18-20 June 2013 | Zagreb/Croatia
  • As recently as the mid-1990s, most models used in financial analysis of insurance were deterministic. Based on sets of static parameters and assumptions, these models largely ignored random fluctuations that were likely to occur. Sensitivity analyses were performed but were generally limited to a fixed number of defined scenarios. This deterministic approach is rapidly being replaced by stochastic modeling that can better inform insurers on pricing, financial planning, and capital assessment strategies. Huge advancements in computing power have made it possible for actuaries and financial planners to better understand the increasingly complex risk profiles of insurers' evolving product design.
    This seminar is based on the book "Stochastic Modeling – Theory and Reality from an Actuarial Perspective" (copyright © 2010 International Actuarial Association) which intends to provide actuaries with a comprehensive resource that details current stochastic methods, provides background on the stochastic technique as well as their advantages and disadvantages.
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Longevity: An Impossible Task?

  • 20/21 June 2012 | Vienna / Austria
  • Longevity: an impossible task? For the last centuries people tend to get older and older which has a substantial impact on national economies and modern societies. Dealing with aging populations and longevity risk becomes increasingly important for politics, social security systems, pension schemes and life insurance companies.

    The seminar covers the current status on longevity risk: how is longevity risk perceived, evaluated and managed by the life insurance industry and the pension schemes in Europe? It gives an introduction to pricing methodologies for longevity risk, presents modern actuarial techniques and focusses on the most important pricing parameters. In particular solutions for covering the asset risk in the context with longevity liabilities will be covered and innovative longevity products will be introduced.
  • Information and Registration:
  • The early-bird registration fee is 870.00 € plus 20 % VAT until 10 May 2013. After this date, the fee will be 970.00 € plus 20 % VAT.

Risk Management in Life insurance and Variable Annuities

  • 27/28 June 2013 | Munich / Germany
  • Compared with 20 years ago, the current economic environment is characterised by much higher risks and also by a rapid change in the product portfolios of many insurance companies. Whereas interest rates were considerably higher in the 1980's and 1990's, equity markets had very good returns. This is not now the case and in consequence some insurance companies face adversities in terms of ALM and product design.
    At the same time products with embedded options, both implicitly given to policyholders (such as in a with-profits fund) and also those which are explicitly sold to the policyholder in the context of variable annuities, have become more and more popular.
    Both these trends necessitate a strengthening of risk management in the insurance industry and a better understanding of the underlying concepts. This seminar aims to cover these topics in some greater detail.
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Actuarial Enterprise Risk Management (Part 1)

  • 3-5 September | Budapest / Hungary
  • In order to become a fully qualified member of your actuarial association, it is required to complete a course of study in line with the association's syllabus and also to meet other conditions (e.g. work experience) required by the association. European actuarial associations which are a member of the Groupe Consultatif Actuariel Européen (GC) have to meet the requirements as laid down in GC Core Syllabus.
  • Information and Registration:

Für weitere Informationen:
http://www.actuarial-academy.com

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