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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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Actuarial profession in russia status and progress l.jpg

Actuarial profession in Russia – Status and progress

Vladimir Novikov

Chairman of the Russian Guild of actuaries

1 November 2007


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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


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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 (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


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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)


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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


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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


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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


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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


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Thank you

www.guildofactuaries.ru

Reminder! Next exam will be on Sunday, November 11, 2007


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