Observations From Down Under

by David G. Hartman

In August I had the privilege of representing the Casualty Actuarial Society at the International Forum of Actuarial Associations (IFAA) Committee meeting in Australia. Prior to the IFAA meeting, I was able to attend the ASTIN and AFIR meetings, also in Australia, and afterwards a portion of the Institute of Actuaries of Australia Centenary meeting. Listed below is a collection of observations made during the ten days.

Collegiality-Actuaries from 32 countries attended either the ASTIN or the AFIR or both meetings. Leaders of actuarial associations from 22 nations participated in the international dinner hosted by the Institute of Actuaries in Australia. Even though we came from all corners of the globe and represented all sorts of practice areas, the various actuaries were collegial in their dealings with one another with a free exchange of ideas.Colloquia-This was the first time ever that ASTIN and AFIR held their Colloquia back-to-back. These two sections of the International Actuarial Association also plan to meet back-to-back in August 1999 in Japan. Jim Stanard, FCAS, retired as the chairperson of ASTIN and was replaced by Edward Levay of Israel. Jim Tilley, FSA of the U.S., is the new chairperson of AFIR.

Convergence-This was the first time a joint day meeting of ASTIN and AFIR was ever held. However, due to the convergence of many of the concepts in general insurance and in finance, it was a natural development. For example, one of the major topics of the joint day was the securitization of catastrophe risks.

Commendation-More than ten years ago the Institute of Actuaries of Australia (IAA) initiated a recognition program for outstanding work done by one or more of its members. They awarded two silver medals in 1988, and none before or since, until this August. Gregory C. Taylor, recipient of the CAS Hachemeister Prize one year ago, was awarded a gold medal by the IAA "in recognition of his outstanding contributions, nationally and internationally, to the theory and practice of actuarial science, and for his unsurpassed dedication to his chosen profession."

Centenary-This meeting marked the 100th anniversary of the founding of the IAA. It was commemorated with much celebration and the presentation of gifts to the IAA from more than twenty actuarial associations from around the world. Robert A. Anker presented the gift from the CAS and Allan M. Kaufman presented the gift from the Academy.

Change-At the IFAA Committee meeting there was a major change discussed regarding the structure of the International Actuarial Association, which is considering adopting the structure of the IFAA by shifting from an organization of individual actuaries to an association of associations. The theme of the IAA meeting was "Shaping the Next Century" and the meeting certainly highlighted change. The Australians have taken a lead role in revising their educational system by introducing what they call the "actuarial control cycle." It has been the basis of their educational process for the last couple of years and has worked quite well so far. Change is a common theme throughout the worldwide actuarial profession.

Continuum-At the IFAA, Chris Daykin of the UK passed the gavel as chairperson to Walt Rugland of the U.S. Jean Berthon of France is the new vice chairperson.

Missing from the list above is conflict. Internationally speaking, our profession is working together quite well.

Thanks for the opportunity for me to mingle with the leaders of our profession worldwide down under as a representative of the CAS. G'day mate!