As a kid growing up in China, I had always wanted to become a scientist, and if you had told me that I would one day become an actuary, I would have been completely confused.
Climate change: challenges and opportunities for crop insurance in Canada
Reflecting Climate Change in the Canada Pension Plan
As actuaries continue to understand the implications of climate change on their practices, it can be useful to see the work that others have done. Recently, the Office of the Chief Actuary completed an exercise that modelled different climate scenarios within the Canada Pension Plan’s projections. Joining us to discuss this work and other climate-related topics is FCIA Assia Billig, Chief Actuary...
How to Manage Capital Volatility under IFRS 17 and LICAT 2023
By FCIAs Robert Berendsen and Catherine Sun Effective January 1, 2023, insurers that report on an International Financial Reporting Standards (IFRS) basis are required to apply IFRS 17 Insurance Contracts (IFRS 17). In adapting to IFRS 17, the Office of the Superintendent of Financial Institutions (OSFI) has revised the Life Insurance Capital Adequacy Test (LICAT) 2019 guideline and published...
Navigating a Non-Traditional Actuarial Career: From Insurance to Banking
By Sheng Tseng, FCIA My early career path The first phase of my actuarial career should be relatable to most actuaries. I graduated with an actuarial science degree and passed some SOA exams, then joined a large insurance company in their actuarial rotation program. A few years later I moved to an international actuarial consultancy where I was involved with a number of traditional and non...