Actuarial profession in Russia

1
Actuarial profession in Russia Status and
progress

• Vladimir Novikov
• Chairman of the Russian Guild of actuaries
• 1 November 2007

2
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

3
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 (IAAC, 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

4
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)

5
Last events

• Application for full membership in IAA of 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

6
Status

• gt130 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

7
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

8
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

9

• Thank you
• www.guildofactuaries.ru
• Reminder! Next exam will be on Sunday, November
  11, 2007