International Actuarial Association

From Actuarial Outpost Wiki

1 About
2 History
3 Sections
4 Governance
5 Membership
6 Past Presidents
7 Medallists of the IAA
8 External links

About

The International Actuarial Association (IAA) is a worldwide association of local professional actuarial associations and their individual actuaries.

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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 Actuaries, held in Birmingham from June 7-12, 1998, the General Assembly of the International Actuarial Association (IAA) restructured itself.

The restructure created a single unified framework to ensure unity of direction and efficient coordination with respect to issues of a world-wide 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.

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Sections

The IAA has seven sections, ASTIN, AFIR, IACA, IAAHS, PBSS, AWF 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 Frontiers Section (AWF) 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.

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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, 2007 to December 31, 2007 are:

Hillevi Mannonen, President
David G. Hartman, President-Elect
Jean-Louis Massé, Immediate Past President
Yves Guérard, 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 57 Full Member associations, 25 Associate Member associations and 3 Institutional Member organizations. 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, AWF and LIFE by paying the required contribution.

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