US/UK Experience

1. US/UK Experience Armoghan Mohammed, PwC Patrick Gallagher, PwC Friday 21 May 2004 Staple Inn Hall

2. Introduction - CV Armoghan Mohammed, is a director in our PwC’s AIMS practice in London. He is a Fellow of the Institute of Actuaries and completed his MBA form the London Business School and Kellogg Graduate School, Chicago. His previous roles include underwriter, and reserving and pricing actuary, having worked for both UK and US insurance companies over the past 12 years. Patrick Gallagher, is a principal consultant in our PwC’s AIMS practice in London. He is a Fellow of the Casualty Actuarial Society and Member of the American Academy of Actuaries Patrick has 7 years property-casualty consulting experience in NYC and joined PwC in 2003.

3. UK US Diversified P/C Focus • Syllabus 6 8 • Qualification Time 90,000 • Population per GI Actuary 70,000 1.75 to 6.50 125 - 300 300 - 400 2.00 to 4.00 • Exam Length • Study Time per Exam Exam System

4. Mutual Recognition in the U.S.

5. Mutual Recognition in the UK

6. Workplace • Debate on the merits of each • Acceptance of Actuaries • Range of work • Remuneration/Security • Working environment • Statutory Role

7. Rules of the Debate • One minute per team per topic • Armoghan Mohammed – US • Patrick Gallagher – UK • 3 out of 5 is champion Fred Duncan – Master of Ceremonies

8. Acceptance of Actuaries

9. Range of Work

10. Remuneration /Security

11. Working environment

12. Statutory Role