International Actuarial Association
Encyclopedia
The International Actuarial Association (IAA) is a worldwide association of local professional actuarial associations and their 64,000-odd fellows
.
, held in Birmingham
on 7-12 June 1998, the General Assembly of the International Actuarial Association restructured itself.
The restructure created a single unified framework to ensure unity of direction and efficient coordination with respect to issues of a worldwide nature. The major responsibilities of the IAA are now in the hands of the actuarial associations, which bring together the actuaries in their respective countries and is the link between the actuaries and the actuarial associations worldwide. The IAA is the unique international organization
dedicated to the research, education and development of the profession and of actuarial associations.
, IAAHS, PBSS, AWB and LIFE. The ASTIN Section stands for Actuarial Studies In Non-life insurance and was founded in 1957. However, the scope of its investigations has been enlarged recently so as to include health insurance. ASTIN publishes the ASTIN Bulletin, an internationally renowned referenced scientific journal, twice a year and organises annual colloquia. The AFIR Section stands for Actuarial Approach for Financial Risks and was founded in 1988. It has as its objective the promotion of actuarial research in financial risks and problems and its most important function is the organizing of annual colloquia. The IACA Section stands for International Association of Consulting Actuaries and was founded in 1968, independently of the IAA, to facilitate international exchange of views between consulting actuaries. It was admitted as a section of the IAA in 1999. The International Actuarial Association Health Section (IAAHS) was founded in 2003 to provide an international perspective on health actuarial practice, public and private health insurance, and health policy matters. The Pensions, Benefits, Social Security Section (PBSS) was founded in 2003 to serve actuaries around the world who have personal, professional, educational or research
interests in social protection and the commercial, social and public policy issues concerning the provision of pensions and other benefits. The Actuaries Without Borders Section (AWB) was also founded in 2003 to link situations in need of actuarial skills with financial resources and with actuarial volunteers to meet those needs. The LIFE Section has as its objectives to promote and facilitate an international exchange of views, advice, research and practical information among actuaries involved with life insurance issues.
The Officers for the period January 1, 2011 to December 31, 2011 are:
Cecil D. Bykerk, President
Desmond K. Smith, President-Elect
Paul N. Thornton, Immediate Past President
Jean-Louis Massé, Secretary General
The Council elects an Executive Committee to coordinate activities and operations, and propose strategies, budgets, membership fees and Council meeting venues. The President chairs the Executive Committee, which comprises the Officers and the chairpersons of the Committees and Sections.
Currently, the IAA has 63 full member associations, 26 associate member associations, four institutional member organisations and two observer member organisations. All fully qualified actuaries of full member associations are automatically individual members of the IAA by virtue of their membership in their respective associations, each of which is responsible for paying its membership in the IAA. All individual members can elect to join any section of the IAA, which currently are ASTIN, AFIR, IACA, IAAHS, PBSS, AWB and LIFE by paying the required contribution.
Associate members:
Institutional members:
Observer members:
†Chairmen of the International Forum of Actuarial Associations
Actuary
An actuary is a business professional who deals with the financial impact of risk and uncertainty. Actuaries provide expert assessments of financial security systems, with a focus on their complexity, their mathematics, and their mechanisms ....
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History
The IAA is the continuation of the "Comité Permanent des Congrès d’Actuaires", established in 1895, as an association of individuals. It was renamed the IAA in 1968. At the 26th International Congress of ActuariesInternational Congress of Actuaries
The International Congress of Actuaries is a conference held under the auspices of the International Actuarial Association every four years...
, held in Birmingham
Birmingham
Birmingham is a city and metropolitan borough in the West Midlands of England. It is the most populous British city outside the capital London, with a population of 1,036,900 , and lies at the heart of the West Midlands conurbation, the second most populous urban area in the United Kingdom with a...
on 7-12 June 1998, the General Assembly of the International Actuarial Association restructured itself.
The restructure created a single unified framework to ensure unity of direction and efficient coordination with respect to issues of a worldwide nature. The major responsibilities of the IAA are now in the hands of the actuarial associations, which bring together the actuaries in their respective countries and is the link between the actuaries and the actuarial associations worldwide. The IAA is the unique international organization
International organization
An intergovernmental organization, sometimes rendered as an international governmental organization and both abbreviated as IGO, is an organization composed primarily of sovereign states , or of other intergovernmental organizations...
dedicated to the research, education and development of the profession and of actuarial associations.
Sections
The IAA has seven sections, ASTIN, AFIR, IACAInternational Association of Consulting Actuaries
The International Association of Consulting Actuaries first met in 1960, and was formally constituted, separate from the International Actuarial Association, in 1968...
, IAAHS, PBSS, AWB and LIFE. The ASTIN Section stands for Actuarial Studies In Non-life insurance and was founded in 1957. However, the scope of its investigations has been enlarged recently so as to include health insurance. ASTIN publishes the ASTIN Bulletin, an internationally renowned referenced scientific journal, twice a year and organises annual colloquia. The AFIR Section stands for Actuarial Approach for Financial Risks and was founded in 1988. It has as its objective the promotion of actuarial research in financial risks and problems and its most important function is the organizing of annual colloquia. The IACA Section stands for International Association of Consulting Actuaries and was founded in 1968, independently of the IAA, to facilitate international exchange of views between consulting actuaries. It was admitted as a section of the IAA in 1999. The International Actuarial Association Health Section (IAAHS) was founded in 2003 to provide an international perspective on health actuarial practice, public and private health insurance, and health policy matters. The Pensions, Benefits, Social Security Section (PBSS) was founded in 2003 to serve actuaries around the world who have personal, professional, educational or research
Research
Research can be defined as the scientific search for knowledge, or as any systematic investigation, to establish novel facts, solve new or existing problems, prove new ideas, or develop new theories, usually using a scientific method...
interests in social protection and the commercial, social and public policy issues concerning the provision of pensions and other benefits. The Actuaries Without Borders Section (AWB) was also founded in 2003 to link situations in need of actuarial skills with financial resources and with actuarial volunteers to meet those needs. The LIFE Section has as its objectives to promote and facilitate an international exchange of views, advice, research and practical information among actuaries involved with life insurance issues.
Governance
The IAA Council comprises the President whose term of office is one year, the Officers and one delegate per Full Member association and one delegate per Section. The Committees and the Council normally meet twice a year in different countries. The IAA fiscal year is the calendar year, except for the financial year starting on July 1, 1998, which was for an 18-month period.The Officers for the period January 1, 2011 to December 31, 2011 are:
Cecil D. Bykerk, President
Desmond K. Smith, President-Elect
Paul N. Thornton, Immediate Past President
Jean-Louis Massé, Secretary General
The Council elects an Executive Committee to coordinate activities and operations, and propose strategies, budgets, membership fees and Council meeting venues. The President chairs the Executive Committee, which comprises the Officers and the chairpersons of the Committees and Sections.
Currently, the IAA has 63 full member associations, 26 associate member associations, four institutional member organisations and two observer member organisations. All fully qualified actuaries of full member associations are automatically individual members of the IAA by virtue of their membership in their respective associations, each of which is responsible for paying its membership in the IAA. All individual members can elect to join any section of the IAA, which currently are ASTIN, AFIR, IACA, IAAHS, PBSS, AWB and LIFE by paying the required contribution.
Member associations
Full members:- Caribbean Actuarial Association
- Professional Council of Economic Sciences of the City of Buenos Aires (Argentina)
- Institute of Actuaries of AustraliaInstitute of Actuaries of AustraliaThe Institute of Actuaries of Australia , commonly referred to as the Institute, is an organisation representing the actuarial profession in Australia. The Institute has origins which trace back to 1897.- History :...
- Austrian Actuarial SocietyAustrian Actuarial SocietyThe Austrian Actuarial Society is the association of actuaries in Austria. The Society was established in 1971. It is a full member of the International Actuarial Association and the Groupe Consultatif. As of 2008, the Society has about 400 members, 233 of them fully qualified...
- Institute of Actuaries in Belgium
- Brazilian Institute of Actuaries
- Bulgarian Actuarial Society
- Canadian Institute of ActuariesCanadian Institute of ActuariesThe Canadian Institute of Actuaries is the national organization of the actuarial profession in Canada. It was incorporated on March 18, 1965. The FCIA designation stands for Fellow of the Canadian Institute of Actuaries...
- China Association of Actuaries
- Croatian Actuarial AssociationCroatian Actuarial AssociationThe Croatian Actuarial Association is the association of actuaries in Croatia. The Association was established in 1996. It is a full member of the International Actuarial Association and an observer member of the Groupe Consultatif. As of 2007, the Association has about 70 members, 51 of them...
- Cyprus Association of ActuariesCyprus Association of ActuariesThe Cyprus Association of Actuaries is the association of actuaries in Cyprus. The Association was founded in 1991 and formally established in 1993. It is a full member of the International Actuarial Association and the Groupe Consultatif. As of 2009, the Association has 48 Fellows....
- Czech Society of ActuariesCzech Society of ActuariesThe Czech Society of Actuaries is the association of actuaries in Czechia. It aims to promote the education and research in actuarial science and to mediate social and professional contacts among actuaries....
- Danish Society of ActuariesDanish Society of ActuariesThe Danish Society of Actuaries , or the Danske Aktuarforening, is the association for actuaries in Denmark. The Society held its first constituents meeting on 23 April 1901 and the first meeting of members on 31 May 1901.-Objectives:...
- Egyptian Society of Actuaries
- Estonian Actuarial SocietyEstonian Actuarial SocietyThe Estonian Actuarial Society is the association of actuaries in Estonia. The Society was established on 5 January 1999. It is a full member of the International Actuarial Association and the Groupe Consultatif. As of 2004, the Society has 23 members, 7 of them fully qualified....
- Actuarial Society of FinlandActuarial Society of FinlandThe Actuarial Society of Finland is the association of actuaries in Finland. The Society was founded on 21 April 1922. It is a full member of the International Actuarial Association and the Groupe Consultatif. The Society has about 300 members....
- Institute of Actuaries of FranceInstitute of Actuaries of FranceThe Institute of Actuaries is the association of actuaries in France. The Institute was created in 2001 by a merger of the Institute of Actuaries of France and the French Federation of Actuaries. The Institute is a full member of the International Actuarial Association and the Groupe Consultatif....
- German Actuarial Society
- Hellenic Actuarial SocietyHellenic Actuarial SocietyThe Hellenic Actuarial Society is the association of actuaries in Greece. The Society was established in 1979. It is a full member of the International Actuarial Association and the Groupe Consultatif. As of 2007, the Society has about 100 full members...
(Greece) - Actuarial Society of Hong Kong
- Hungarian Actuarial SocietyHungarian Actuarial SocietyThe Hungarian Actuarial Society was founded in 1991 to represent actuaries in Hungary. , it has about 140 members, 80 of which are qualified members. It is a full member of the International Actuarial Association and the Groupe Consultatif....
- Society of Icelandic Actuaries
- Institute of Actuaries of India
- Society of Actuaries of Indonesia
- Society of Actuaries in IrelandSociety of Actuaries in IrelandThe Society of Actuaries in Ireland is the professional body of Irish actuaries. The Society was founded on 3 May 1972 by seventeen members of the Institute and the Faculty of Actuaries residing in Ireland. Since then, the membership has grown to more than 1 000...
- Israel Association of ActuariesIsrael Association of ActuariesThe Israel Association of Actuaries is the association for actuaries in Israel....
- Italian Institute of Actuaries
- Institute of Actuaries of Ivory Coast
- Institute of Actuaries of Japan
- Japanese Society of Certified Pension Actuaries
- Actuarial Society of Kenya
- Latvian Actuarial AssociationLatvian Actuarial AssociationThe Latvian Actuarial Association is the association of actuaries in Latvia. The Association was established in 1997. It is a full member of the International Actuarial Association and the Groupe Consultatif. As of 2008, the Association has about 40 members, 19 of them fully qualified...
- Lebanese Association of Actuaries
- Lithuanian Actuarial SocietyLithuanian Actuarial SocietyThe Lithuanian Actuarial Society is the association of actuaries in Lithuania. The Society was founded in 1996. In 2005, it became a full member of the Groupe Consultatif. As of 2006, the Society has 28 members. Current chairman of the Society is Ričardas Kudžma....
- Actuarial Society of MalaysiaActuarial Society of MalaysiaActuarial Society of Malaysia , also known as ASM was founded on 5 October 1978. ASM is the only representative body for the actuarial profession in Malaysia...
- National Association of Actuaries (Mexico)
- Moroccan Association of Actuaries
- Actuarial Society of the Netherlands
- New Zealand Society of ActuariesNew Zealand Society of ActuariesThe New Zealand Society of Actuaries is the professional body to which actuaries practicing in New Zealand normally belong. The society was founded in 1957 and incorporated in 1976....
- Norwegian Society of ActuariesNorwegian Society of ActuariesThe Norwegian Society of Actuaries is the association of actuaries in Norway. The Society was founded on 11 July 1904. It is a full member of the International Actuarial Association and the Groupe Consultatif. As of 2010, the society has about 284 full members. The current chairman of the society...
- Pakistan Society of Actuaries
- Actuarial Society of the Philippines
- Polish Society of ActuariesPolish Society of ActuariesThe Polish Society of Actuaries is the association of actuaries in Poland. The Society was established in 1991 to resume activities of the Polish Institute of Actuaries originally founded in 1920...
- Portuguese Institute of Actuaries
- Academy of Actuaries of Puerto Rico
- Russian Guild of Actuaries
- Serbian Association of Actuaries
- Singapore Actuarial Society
- Slovak Society of ActuariesSlovak Society of ActuariesThe Slovak Society of Actuaries is the association of actuaries in Slovakia. The Society was established in 1996. It is a full member of the International Actuarial Association and the Groupe Consultatif. As of 2011, the Society has about 150 members, 25 of them fully qualified...
- Slovenian Association of ActuariesSlovenian Association of ActuariesThe Slovenian Association of Actuaries is the association of actuaries in Slovenia. The Association was founded on 30 January 1997. It is a full member of the International Actuarial Association and the Groupe Consultatif. As of 2007, the Association has about 60 members, 37 of them fully...
- Actuarial Society of South AfricaActuarial Society Of South AfricaThe Actuarial Society of South Africa, is the governing body for the actuarial profession in South Africa.Fellowship to the Society is now gained by passing the prescribed examinations of the Actuarial Society. This is a new development with the South African qualification in place from 2010...
- Spanish Institute of Actuaries
- Catalan Actuarial Association (Spain)
- Swedish Society of ActuariesSwedish Society of ActuariesThe Swedish Society of Actuaries is the association of actuaries in Sweden. The Society was founded on 3 March 1904. It is a full member of the International Actuarial Association and the Groupe Consultatif. As of 2004, the Society has about 290 members....
- Swiss Association of ActuariesSwiss Association of ActuariesThe Swiss Association of Actuaries is the association of actuaries in Switzerland. The Association was established in 1905. It is a full member of the International Actuarial Association and the Groupe Consultatif. As of 2011, the Association has 1 160 members, 603 of them fully qualified. Current...
- Actuarial Institute of Chinese Taipei (Taiwan)
- Society of Actuaries of Thailand
- Institute and Faculty of ActuariesInstitute and Faculty of ActuariesThe Institute and Faculty of Actuaries is the professional body which represents the actuaries in the United Kingdom. It operates publicly under the name Actuarial Profession.-History:...
(United Kingdom) - American Academy of ActuariesAmerican Academy of ActuariesThe American Academy of Actuaries, also known as the “Academy” or the AAA, is the body that represents and unites United States actuaries in all practice areas...
- American Society of Pension Professionals and ActuariesAmerican Society of Pension Professionals and ActuariesThe American Society of Pension Professionals & Actuaries or ASPPA is a national organization for career retirement plan professionals. The membership consists of the many disciplines supporting retirement income management and benefits policy. Its members are part of the diversified, technical,...
- Casualty Actuarial SocietyCasualty Actuarial SocietyThe Casualty Actuarial Society is a professional society of actuaries whose goal is "the advancement of the body of knowledge of actuarial science applied to property, casualty, and similar risk exposures." Its members are mainly involved in the property and casualty areas of the actuarial...
(United States) - Conference of Consulting ActuariesConference of Consulting ActuariesThe Conference of Consulting Actuaries, also known as the Conference or the CCA, is a professional society of actuaries engaged in consulting in the United States and Canada, as opposed to those employed by insurance companies...
(United States) - Society of ActuariesSociety of ActuariesThe Society of Actuaries is a professional organization for actuaries based in North America. It was founded in 1949 as the merger of two major actuarial organizations in the United States: the Actuarial Society of America and the American Institute of Actuaries...
(United States)
Associate members:
- Institute of Actuaries of Argentina
- Actuarial Association of Azerbaijan
- Actuarial Society of Bangladesh
- Association of Actuaries of Benin
- Actuarial Association of Bosnia and Herzegovina
- Institute of Actuaries of Cameroon
- Institute of Actuaries of Chile
- Colombian Association of ActuariesColombian Association of ActuariesThe Colombian Association of Actuaries is the professional association of actuaries in Colombia. The Association was formed on 17 June 1970. It is an associate member of the International Actuarial Association. Current president of the Association is Luis Fernando Cortázar.-External links:*...
- Association of Actuaries and Financial Analysts (Georgia)
- Actuarial Society of Ghana
- Actuarial Society of Kazakhstan
- Luxembourg Actuarial Association
- Macedonian Actuarial Association
- Mexican Association of Actuaries
- Moldovan Actuarial Association
- Society of Actuaries of Mongolia
- Nigerian Actuarial Society
- Association of Actuaries of Panama
- Romanian Actuarial Association
- Institute of Actuaries of Korea (South Korea)
- Actuarial Association of Sri Lanka
- Actuarial Society of Tanzania
- Actuarial Society of TurkeyActuarial Society of TurkeyThe Actuarial Society of Turkey is the association of actuaries in Turkey. It is a professional organisation whose purpose is the advancement of actuarial science applied to property, casualty, and similar risk exposures....
- Society of Actuaries of Ukraine
- Channel Islands Actuarial Society
- Actuarial Society of Zimbabwe
Institutional members:
- International Accounting Standards BoardInternational Accounting Standards BoardThe International Accounting Standards Board is an independent, privately funded accounting standard-setter based in London, England.The IASB was founded on April 1, 2001 as the successor to the International Accounting Standards Committee...
- International Association of Insurance SupervisorsInternational Association of Insurance SupervisorsThe International Association of Insurance Supervisors is an international organisation that brings together the world's insurance supervisors and regulators.-History:The IAIS was created in 1994...
- International Organisation of Pension Supervisors
- International Social Security AssociationInternational Social Security AssociationThe International Social Security Association is an international organization bringing together national social security administrations and agencies. Founded in 1927, the ISSA has around 340 member organizations in 150 countries. It has its headquarters in Geneva, Switzerland, in the...
Observer members:
- Organisation for Economic Co-operation and DevelopmentOrganisation for Economic Co-operation and DevelopmentThe Organisation for Economic Co-operation and Development is an international economic organisation of 34 countries founded in 1961 to stimulate economic progress and world trade...
- Asian Development BankAsian Development BankThe Asian Development Bank is a regional development bank established on 22 August 1966 to facilitate economic development of countries in Asia...
Past presidents
- 1895-1896 Léon Mahillon
- 1896-1909 Omer Lepreux
- 1909-1946 Amédée Bégault
- 1946-1950 Léon François
- 1950-1964 Albert Théate
- 1964-1984 Edouard Franckx
- 1987-1988 Henri Rijkers
- 1988-1998 André Lamens
- 1995-1996 Paul McCrossanPaul McCrossanWilliam Paul Joseph McCrossan is an actuary and former Canadian Member of Parliament.-Background:McCrossan was born in Toronto. An actuary by profession, McCrossan has served as president of the Canadian Institute of Actuaries...
† - 1996-1997 Christopher D. Daykin†
- 1997-1998 Walter S. Rugland†
- 1998-1999 Jean Berthon
- 2000 Catherine M. Prime
- 2001 Morris W. Chambers
- 2002 Edward J. Levay
- 2003 W. James MacGinnitie
- 2004 Luis Huerta
- 2005 Alf Guldberg
- 2006 Jean-Louis Massé
- 2007 Hillevi Mannonen
- 2008 David G. Hartman
- 2009 Katsumi Hikasa
- 2010 Paul N. Thornton
†Chairmen of the International Forum of Actuarial Associations
Medallists of the IAA
- 2001 Hans Bühlmann
- 2001 Max Lacroix
- 2008 Paul McCrossanPaul McCrossanWilliam Paul Joseph McCrossan is an actuary and former Canadian Member of Parliament.-Background:McCrossan was born in Toronto. An actuary by profession, McCrossan has served as president of the Canadian Institute of Actuaries...
- 2010 Yves Guérard