Die Deutsche Aktuarvereinigung e.V. The German Association of - - PowerPoint PPT Presentation

Die Deutsche Aktuarvereinigung e.V. The German Association of Actuaries

General Overview

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Associations of Actuaries in Germany

• The Deutsche Aktuarvereinigung is the

professional representation of all actuaries in Germany

• Founded in 1994 DAV has today about 5.000

members

• About 1.600 candidates for membership are

actively engaged in education and examination

• The Deutsche Gesellschaft für Versicherungs-

und Finanzmathematik (German Society for Insurance and Financial Mathematics) is the scientific sister organisation of DAV and promotes a close cooperation between universities (research and teaching) and insurance/finance industry (professional practice)

• DGVFM has about 5.100 individual und

70 institutional members

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Associations of Actuaries in Germany

• The Institut der Versicherungs-

mathematischen Sachverständigen für Altersversorgung (Institute of Pension Actuaries) is a branch association of DAV focussing on occupational pensions

• IVS today has 850 members
• The Deutsche Aktuar-Akademie (German

Actuarial Academy) organises education and CPD seminars for DAV, DGVFM und IVS

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The Deutsche Aktuarvereinigung

DAV as professional representation:

• Independent expert knowledge for all mathematical issues

concerning insurance, finance and old-age provision

• Enforcement of a unified profession of actuaries by means of

training and professional ethics

• Professional framework for DAV members supported by

professional standards of practice

• Contact for supervisory authorities, political institutions and the

general public

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The Deutsche Aktuarvereinigung

Recognition of DAV by supervisory authority, political institutions and insurance industry:

• DAV assumes no official role, it is organised in the form of a

registered association.

• The German Insurance Supervisory Act defines the roles of

Verantwortlicher Aktuar / Responsible Actuary (since 1994) Actuarial Function (starting 2016).

• Adoption of these roles requires no membership in the DAV ;

but membership represents a sufficient qualification.

• The DAV guarantees a high level of technical and professional

qualifications of its members .

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Our members, the German actuaries

• The members of the DAV have completed a demanding training

as „Aktuar DAV“ organised by DAV and DAA.

• This education is based on a university degree in mathematics
• r related studies.
• Members have at least three years of relevant professional

experience, before they are admitted in the DAV.

• The DAV actuaries are also required to maintain their expertise

through appropriate CPD training.

• All members of DAV are obliged to comply with the code of

professional conduct and the disciplinary rules.

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Our members, the German actuaries

1000 2000 3000 4000 5000 6000 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

Development of membership numbers

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Our members, the German actuaries

5,75% 10,65% 31,04% 44,23% 24,15%

Age distribution

66-100 J. 56-65 J. 46-55 J. 36-45 J. 21-35 J.

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Our members, the German actuaries

male female

100 200 300 400 500 600 700 21-30 31-35 36-40 41-45 46-50 51-55 56-60 61-65 66-75 76-85 86-100

Gender distribution

männlich weiblich

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Our members, the German actuaries

Insurance companies; 55,7% Consulting companies; 17,7% Reinsurance companies; 12,4% Public insurance; 3,6% Other; 2,9% Insurance institutions; 2,5% Self-employed; 2,1% Associations, Authorities, Ministries; 1,1% Research / Teaching; 1,0% Auditors; 0,6% Banks / Investment companies; 0,2% Building Societies; 0,2%

10,5%

DAV members are working in …

Source: DAV Membership Survey 2014

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Our members, the German actuaries

DAV members are working in …

0% 10% 20% 30% 40% 50% 60%

Life Insurance Pensions Casualty Insurance Risk Management Health Insurance Other Building Societies

Source: DAV Membership Survey 2014

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Organisation of DAV

Executive Board

Professionalism Committee Education & Examination Committee Life Insurance Committee Accounting & Regulation Committee Non-Life-Insurance Committee Occupational Pensions Committee HUK Committee Health Insurance Committee International Committee

DAV Secretariat with 28 employees Seated in Cologne Each Committee decides independently on the establishment of working groups; currently about 60

Investment Committee CPD Committee ERM Committee

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Current topics of DAV

• Impact of a continuing low interest rate environment on the

profession

• Implementation of the new risk-based supervisory regime

Solvency II

• Strengthening the position of actuaries in

 Risk Management (additional credential CERA)  Consumer protection  Digital technologies, big data

• Strategic priorities:

 Review of education system till 2018  Strengthening of internal and external communication activities  Engagement in international cooperation

Contact: Deutsche Aktuarvereinigung e.V. Hohenstaufenring 47-51 50674 Köln Tel.: 0221 / 912554-0 – Fax: 0221 / 912554-44 Email: info@aktuar.de – Website: www.aktuar.de