86 Abstracts and Reviews

our society has been created which comprises, besides

the traditional mathematically oriented subjects,

insurance economics, insurance law, work experience

and an oral presentation.

Keywords: Education, Research and Development,Control.

073100 (E61)Nationaler Bericht - Schweiz. Zusammenspiel vonVersicheru ngsgesellscha ften, Un lv ersitaten,Schweizerischer Vereinigung der Versicherungs­mathematiker (SVVM) und Aufsichtsbehdrden.Embrechts P., Gerber H.U., Gisler A., Kohler M.-T.,Liithy H., Streit P., Tobler H., Transactions ICABrussels. National Reports, 1995, pp. 165-180.

Swiss insurance regulators have never attempted to

dictate educational guidelines for actuaries . Yet in the

area of employee benefit pro grammer, the law stipulates

that certain control functions must be delegated to

legall y recognized pension fund experts. The Swiss

Association of Actuaries (SAA), a private institution, is

the organization that undertakes the requisite high-level

certification of such experts.Among other things, the Association provides an

interface between the theoretical training at Swiss

academic institutions and the practical demands of the

workplace . Representatives from insurance companies

and academic institutions thus traditionally make up the

majority of the SAA's committee. The report includesan outline of the educational offerings in actuarialscience at Swiss universities and colleges. ' It alsodescribes the training and ongoing education courses aswell as the actuarial seminars organized by the SAA.

New challenges such as stochastic interest rate models,derivative products, catastrophe modell ing, robust

credibility, and the Euro-actuary call for reexamination

of our research and training programs for actuaries. The

convergence of actuarial science and financ ial theory

will mark the future profile of the actuary. The SAA's

role is currently under review. In future , the Association

may quite possibly take on additional duties in

connection with the certification of actuaries, thus

providing stronger leadership.For private insurance institutions, whether active in the

life or non-life sector, there are no explicit legal regula­tions that define in which cases an actuary must assume

responsibility for actuarial matters. In view of anautonomous implementation of part of the EU 's thirdinsurance dire ctive, whose main focus is the elimination

of any form of preliminary rate approval and systematic

rate control by regulators, conditions in Switzerland

should move closer to those in Anglo-Saxon countries.

Namely, actuaries who work in insurance institutions

will be integrated into the control concept of the

supervisory authorities. Key qualification criteria are

also discussed in the report. Specifically, an actuary's

nationality should not playa role ; decisive is that non­

Swiss candidates fulfil the same requirements regarding

character, specialized knowledge and professionalexperience as their Swiss colleagues.

Keywords: Education, Research and Development,Control.

073101 (E61)National Report United Kingdom. RecentDevelopments in United Kingdom.Garden R., Bateman T., Transactions lCA Brussels.National Reports, 1995, pp. 191-2/2.The aim of the Report is to set out the more significant

areas of change and growth in the UK Actuarial

Profession in the last few years.

The Report begins by considering the developments in

the area of Education for Actuaries both during trainingand post-qualification. It then continues with sections

considering each of the following areas of professional

activity in the UK :

Continuing Professional Development

Professional Affairs

Life AssurancePensionsGeneral Insurance

Wider FieldsInternational AffairsMortality and Sickness Statistics

Keywords: Education, Research and Development.Control.