Actuaries Institute paper says financial institutions should measure their social condition

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Highlights The Hayne Royal Commission showed institutions have failed to understand and manage relationships with society and their associated social risks. This has resulted in great reputational damage and loss of social capital for those institutions. ‘Social condition’ is as important as ‘financial condition’ to the success and sustainability of an institution. The authors propose […]

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Australian Actuaries Climate Index shows frequency of extreme hot days rising

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The Australian Actuaries Climate Index, updated for the first time since its launch in late 2018, shows the number of extreme hot days was above historical levels in both Winter and Spring 2018, and portions of Australia remained extraordinarily dry showing distinct signs of drought. The Index provides an objective measure of extreme weather conditions […]

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Actuaries welcome super changes that should lead to improved living standards for retirees

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The Actuaries Institute has welcomed the federal Government’s changes to Australia’s post-retirement superannuation system that it hopes will lead to improved living standards for retirees. The legislation passed through Parliament on February 14. The raft of measures deal with the risks for retirees that they outlive their savings; it will give older Australians more financial […]

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Actuaries Institute welcomes final Royal Commission report

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The Actuaries Institute welcomes the final report from the Royal Commission into Australia’s banking, superannuation and financial services sectors. The Royal Commission, which received more than 10,000 submissions, has revealed significant problems that must be addressed across banking, insurance and superannuation. “The Institute fully supports the cultural change that has been advocated by the Royal […]

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Adaptive enterprises manage risk best

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Organisations that fail to adapt to rapidly changing community expectations, or that focus on one stakeholder such as shareholders over all others, can’t effectively manage their risk, according to a research paper* prepared for the Actuaries Institute. Andrew Brown, specialist consulting actuary, warns that the cultural failings identified in the Royal Commission into Australia’s finance […]

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Actuaries Institute launches climate index

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The Actuaries Institute has launched a climate index, an objective measure of extreme weather conditions and changes to sea levels, to help policymakers and Australia’s businesses assess how the frequency of weather extremes is changing over time. The Australian Actuaries Climate Index, which includes a number of sub-indices, tracks changes in the frequency of extreme […]

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Small changes can deliver big budget savings and better outcomes for those on social security

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Moderate changes to Australia’s social support programs could deliver better outcomes for those receiving assistance and result in billions of dollars in budget savings, according to a paper published by actuary Hugh Miller. For each vulnerable individual, social service spending across welfare, housing, health care, justice and child protection can easily amount to $500,000 to […]

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Actuaries Institute announces new leadership team

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New president Daniel Smith outlines key priorities for 2014 The Actuaries Institute (the Institute) today formally announced the appointment of Daniel Smith as 2014 Institute President. He will be joined by former Actuary of the Year Estelle Pearson as Senior Vice President, and Lindsay Smartt as Vice President. Mr Smith, Ms Pearson and Mr Smartt […]

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Social and economic balancing act a major challenge for the future of injury schemes, says Actuaries

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The delicate balancing act between delivering the specific health outcomes and sustainable funding of personal injury schemes is at a tipping point according to research from the Actuaries Institute, who surveyed delegates of its annual Injury Schemes Seminar held last month. Building on 25 years of thought-leadership within the insurance and broader financial services industry, […]

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David Bell appointed as Actuaries Institute CEO

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The Actuaries Institute yesterday announced the appointment of David Bell as its new CEO.  Mr Bell will join the Actuaries Institute in January 2014, replacing former CEO Melinda Howes who left earlier this month after four years in the role. Mr Bell brings to the position more than 20 years’ experience in management and public […]

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