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Actuarial profession in Russia – Status and progress

Actuarial profession in Russia – Status and progress. Vladimir Novikov Chairman of the Russian Guild of actuaries 1 November 2007. History. 1994 – 2001 - Society of actuaries of Russia 2002 – Guild of actuaries was found Actuarial profession promotion

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Actuarial profession in Russia – Status and progress

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  1. Actuarial profession in Russia – Status and progress Vladimir Novikov Chairman of the Russian Guild of actuaries 1 November 2007

  2. History • 1994 – 2001 - Society of actuaries of Russia • 2002 – Guild of actuaries was found • Actuarial profession promotion • Participation in international events, distributing international experience on local level • Actuarial conference – 2003, supported by TACIS • European Actuarial Academy seminar “Key actuarial techniques” – 2006 – supported by FAIS • Participation in market development (draft rules for life insurance reserving, rules for actuarial certification and reporting, investigation of clams experience of MTPL for RUMI, etc) • Educational system developing – textbook translation, syllabus preparation, 3 waives of voluntary exams on Actuarial mathematics -1 • 2006 – around 40 members, Associate member of International Actuarial association

  3. History – 2007 February - General meeting • Prospective plan was adopted • New board election • Igor Kotlobovski (Moscow state university) • Alexander Lelchuck (Consulting) • Sergei Zavriev (ING) • Andrei Kudriavtsev (SPb University) • Nikolai Gorbachev (Ingosstrakh) • Valery Baskakov (IAAC, Consulting) • Dmitri Denisov (Moscow state university) • Lmitri Malyh (Czech Insurance company) • Konstantin Kozlov (Cardif) • Andrei Safonov (Renessans insurance) • Vladimir Novikov (AIG Life) • Preparation to full membership in IAA was started • There were established 4 Committees • Life insurance • Pension • Non –life insurance • Education

  4. Last events • General meeting (26 June 2007) made decision to apply for full membership of the Guild of actuaries in IAA • Education program was adopted • Code of conduct was adopted • Disciplinary commission was formed (Igor Kotlobovski is a Chairman)

  5. Last events • Application for full membership in IAAof the Guild of actuaries was sent on 6th of October • It was preliminary considered on IAA Meeting last week • Next IAA meeting in June 2008 will make an official decision

  6. Status • >130 members • Insurance industry – 71% • Consulting – 8% • Universities – 11% • State and Non-state pensions – 7% • Other – 3% From the 15th of October 2007 new candidates should go through professional exams

  7. Future progress • Transfer education program into set of exams • Textbooks translation, editing and printing • Start examination procedure for new members • Start regular CPD (Continuing professional development) activity • Developing standard of actuarial practice (life, general, pensions) • Regular information providing to supervision authority and other bodies, taking part in actuarial reporting implementation

  8. Future progress • International events 2008 • EAA Seminar • IAA Fund Meeting of leaders of actuarial profession of CIS countries • Developing relations with Russian association of professional accountant and auditors, other domestic and international bodies

  9. Thank you www.guildofactuaries.ru Reminder! Next exam will be on Sunday, November 11, 2007

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