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The Weekly Actuary

Keep yourself updated with the latest actuarial related news in the world today

World’s largest non-governmental climate insurance scheme launched

World’s largest non-governmental climate insurance scheme launched

A new climate insurance programme designed to increase access to finance and provide disaster recovery lending to some of the world’s poorest people was launched. The insurance programme, named the African and Asian Resilience in Disaster Insurance Scheme (ARDIS), will provide cover to farmers and small businesses, targeting African and Asian smallholder farmers, alongside VisionFund International, World Vision’s microfinance arm. The scheme covers borrowers in six countries

Global cyber security centre launched

Global cyber security centre launched

The world’s first global platform for collaboration between businesses, governments and law enforcement agencies on cyber security was launched at the World Economic Forum (WEF). The Global Centre for Cybersecurity, based in Geneva, Switzerland will function as an autonomous organisation, allowing for information exchange, and the setting of international standards to counter digital crime. The centre intends to establish an independent library of cyber best practices and wor

Inflation dips to 3% to ease pressure on BoE for rate rise

Inflation dips to 3% to ease pressure on BoE for rate rise

Annual growth in CPI eased in December thanks to lower price rises for airfares, games and toys UK consumer price inflation fell from 3.1% in November back to 3% in December, according to figures released today by the Office for National Statistics (ONS). This was the first decrease recorded for six months, with the fall fuelling hopes that inflation has peaked following a near six-year high. The outcome was in line with expectations, with some economists believing Britain’s

Global elite anticipate year of heightened risk

Global elite anticipate year of heightened risk

Political and economic confrontations between major powers are expected to worsen in 2018, with the global elite preparing for another year of intensifying risks. A survey of nearly 1,000 business leaders, politicians and academics by the World Economic Forum (WEF) also reveals there is increasing concern over the possibility of new wars breaking out this year. Cyberattacks and environmental threats are the top two risks identified in terms of likelihood, while weapons of mas

MiFID II marks ‘watershed moment’ for financial regulation

MiFID II marks ‘watershed moment’ for financial regulation

The EU’s Markets in Financial Instruments Directive II (MiFID II) came into effect today and is expected to be one of the final pieces of regulatory reform following the 2008 banking crisis. Designed to offer greater protection for investors, it is estimated that global banks and asset managers will have spent $2.1bn (£1.5bn) in order to comply with the 1.7 million paragraphs of rules. It is hoped that the regulation will make financial markets more efficient resilient and tr

FTSE 350 pension deficit falls by £8bn

FTSE 350 pension deficit falls by £8bn

The deficit of defined benefit (DB) pension schemes for the UK’s 350 largest listed companies fell from £84bn to £76bn over 2017 – a decrease of more than 9%. According to Mercer’s Pension Risk Survey, while corporate bond yields increased over the month, the benefits were largely offset by a rise in market implied inflation. A rise in corporate bond yields alone in September would have reduced liabilities close to 4.5 per cent, equivalent to around £40bn. Asset values fell b