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The Development of Actuarial Profession in Croatia

The Development of Actuarial Profession in Croatia. Tatjana Račić - Žlibar Croatian Actuarial Association (CAA - HAD). Croatia. Insurance Market in Croatia 2003. Croatian Actuarial Association. CAA – HAD = HRVATSKO AKTUARSKO DRUŠTVO. PROFESSIONAL ASSOCIATION FOUNDED 1.4.1996. WITH GOALS:

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The Development of Actuarial Profession in Croatia

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  1. The Development of Actuarial Profession in Croatia Tatjana Račić - Žlibar Croatian Actuarial Association (CAA - HAD)

  2. Croatia 6th Meeting of Actuarial Profession in Central and Eastern Europe

  3. Insurance Market in Croatia 2003 6th Meeting of Actuarial Profession in Central and Eastern Europe

  4. Croatian Actuarial Association CAA – HAD = HRVATSKO AKTUARSKO DRUŠTVO • PROFESSIONAL ASSOCIATION FOUNDED 1.4.1996. WITH GOALS: • promotion, development and marketing of actuarial science • promotion, development and marketing of actuarial profession • promotion of its practical appliance • promotion of professional development and education of actuaries ASSOCIATE MEMBER OF INTERNATIONAL ACTUARIAL ASSOCIATION (6.1998.) OBSERVER MEMBER OF GROUPE CONSULTATIF ACTUARIEL EUROPEEN (10.1999.) www.aktuari.hr 6th Meeting of Actuarial Profession in Central and Eastern Europe

  5. Croatian Actuarial Association STATUTES (1996, AMENDED 2003) CODE OF CONDUCT (2002) DISCIPLINARY SCHEME (2002) • GOOD COOPERATION WITH: • INSURANCE SUPERVISION AUTHORITY AND • AGENCY FOR SUPERVISION OF PENSION FUNDS AND INSURANCE ACTUARIAL MATHEMATICS POSTGRADUATE MASTER DEGREE started January 2003 Department of Mathematics Zagreb University in cooperation with CAA 6th Meeting of Actuarial Profession in Central and Eastern Europe

  6. Croatian Actuarial Association 6th Meeting of Actuarial Profession in Central and Eastern Europe

  7. Croatian Actuarial Association CONDITIONS FOR ORDINARY MEMBERS (STATUTE) Scientific or practical involvement in actuarial work Accept the Statute of the Association and act accordingly University degree math and 3 years on actuarial jobs University degree economy and 5 years on actuarial jobs University degree physics and 5 years on actuarial jobs University degree technical and 5 years on actuarial jobs Special actuarial training and at least 1 year on actuarial jobs Education in line with GC and IAA recognised by CAA University degree Work on actuarial jobs at least 2 years NEW 2003 + + - - - - - + + + OLD + + + or + or + or + or + or - - - 6th Meeting of Actuarial Profession in Central and Eastern Europe

  8. Actuarial Profession in Croatia MEMBERS OF CAA 65 ORDINARY MEMBERS OF CAA 42 CERTIFIED FOR INSURANCE 31 CERTIFIED FOR PENSION INSURANCE 2 PERSONS WORKING ON ACTUARIAL JOBS 6th Meeting of Actuarial Profession in Central and Eastern Europe

  9. Actuarial Profession in Croatia CONDITIONS FOR CERTIFIED ACTUARIES Exam for insurance certified actuary Certified actuary for insurance business Exam for pension certified actuary Education in line with GC and IAA University degree (math, physics, economy, technical) Work on actuarial jobs (3 / 5 years) Ordinary member of actuarial association Croatian citizen Residence in Croatia Not condemned for economy crimes Not under investigation INSURANCE + / - + (instead of exam) + - + + - + + PENSION INSURANCE / + + + + + + + + + + 6th Meeting of Actuarial Profession in Central and Eastern Europe

  10. Actuarial Profession in Croatia • KEY ISSUES • definition of professional examination for becoming fully qualified member • definition of program for Government’s professional examinations for certified actuaries in insurance • co-operation with the Agency for Supervision of Pension Funds and Insurance in organizing actuarial exams for pension certified actuaries • organisation of CPD seminars in the future • proposal of new guidance for calculating insurance reserves 6th Meeting of Actuarial Profession in Central and Eastern Europe

  11. Actuarial Profession in Croatia 6th Meeting of Actuarial Profession in Central and Eastern Europe

  12. THANK YOU FOR YOUR ATTENTION! 6th Meeting of Actuarial Profession in Central and Eastern Europe

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