What are some of the current issues facing this business area?
The Financial Services Authority’s (FSA) regulatory powers are changing the way in which insurers manage their risk. The impact of events such as 9/11, the fall in global equity markets and the 2005 hurricane season have all reduced the capital available to insurers. Efficient management of capital is therefore a key objective for such organisations. Actuaries have a significant role to play in helping companies manage risk and capital. The Morris Review has challenged the way the profession regulates itself and could present significant challenges over the next few years. Actuarial work is likely to become an even more interesting and dynamic career choice.
