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CAE Spring 2010 Meeting Minutes and Presentations

06/28/2010 —

Spring 2010 CAE Meeting

The Casualty Actuaries of Europe held our Spring meeting on 22 June 2010 at the offices of Deloitte in London.

In attendance were over 50 persons, including 17 CAS members and 7 candidates. Other attendees included members and students of the UK Institute & Faculty of Actuaries, Swiss Actuarial Association, German DAV and Institute of Actuaries of Australia.

CAE President Jonathan Bilbul opened the meeting with a brief introduction, followed by four sessions in the morning:

• Current CAS Issues and Directions - Roger Hayne, FCAS, MAAA, PhD, CAS President
• Economic Shocks: How to Model a Crash - Mark Sinclair-McGarvie, EMB
• The Limits to Growth: Climate Change and Other Sustainability Issues - Oliver Bettis, FIA, FCII, Great Lakes
• The Securitisation Market and the current Financial Crisis - Philippe Jodin, FCAS, Alegra Capital

After lunch we had a Regulatory Round Table, featuring individual presentations by 4 regulators on:

-Principles vs Rules-Based solvency regulation
-International coordination between regulators
-Current issues in each jurisdiction

Download Presentation 1
Download Presentation 2
Download Presentation 3
Download Presentation 4

• Germany: Christopher Lotz, PhD, BaFin
• Switzerland: Roger Meli, FINMA
• UK: Ian Marshall, FIA, FSA
• USA: Kris DeFrain, FCAS, MAAA, CPCU, NAIC

This was followed by an open panel for questions, moderated by Kendra Felisky, FCAS, MAAA, Deloitte.

AOB

Jonathan Bilbul relayed a message from Bob Craver, the CAS Exam Center Coordinator, saying that they regularly struggle to get exam centers in London. It is getting to the point that we may not be able to have London as an exam center option, which would be detrimental to CAS candidates in the UK. So if you are able to either provide a room or be a proctor, please contact Bob at bcraver@casact.org

There is a joint Ratemaking Survey Working Party with the CAS, Institute & Faculty of Actuaries, and the Institute of Actuaries of Australia to produce a global ratemaking survey, which is a follow-up to the UK GRIP paper. This survey is now available online, and we'd ask you to please take a moment to fill it out. While we are keenly interested in responses from actuaries with experience in P&C ratemaking (pricing), we encourage you to share the attached survey with your non-actuarial colleagues involved in the pricing decision-making at your firm.

Take the Ratemaking Survey

The Fall 2010 Meeting will likely be held in October/November in Zurich or Munich. If anyone is interested in hosting the event or doing a presentation, please let the CAE committee know.

Elections will be held at the Fall meeting, so if you are interested in volunteering for the CAE, please let one of us know.

Consensus from attendees was that all presentations were extremely informative and the hosting was fantastic. A huge thank you to Deloitte for hosting in such a great location and with excellent food and facilities.

Laura Stevens,
Secretary