Latest news with #IFoA
Edinburgh Reporter
14-05-2025
- Business
- Edinburgh Reporter
New Chief Executive named at The Law Society of Scotland
General Counsel, Executive Director and dual-qualified solicitor Ben Kemp has been appointed to become the new Chief Executive Officer of the Law Society of Scotland. Mr Kemp will join the Law Society in August from the professional body which represents and regulates actuaries, the Institute and Faculty of Actuaries (IFoA), where he has worked primarily as General Counsel and Executive Director, with a recent 15-month tenure as interim CEO. A University of Edinburgh LLB graduate, Mr Kemp qualified as a Scottish solicitor in 2001 and has worked in private practice in both Scotland and London, before moving in-house to the IFoA in 2012. Law Society of Scotland President Susan Murray said: 'We are delighted that Ben will be joining the Law Society in the coming months as our new CEO. This follows a comprehensive and exacting recruitment process. 'Ben stood out from a strong field of candidates as the right person to lead and develop the Society, as well as support the wider Scottish solicitor profession and the people it serves. He is joining us at an exciting time as we prepare for generational reforms around regulation and as the legal sector embraces technological and cultural change. 'We were impressed with Ben's wide experience of the legal sector and his approach towards leading a membership organisation, alongside his commitment to working collaboratively with our members, our Society colleagues and our key stakeholders, to navigate challenges, embrace opportunities and represent the profession.' Ben Kemp said: 'I am excited and privileged to be joining the Law Society of Scotland later this year. As a longstanding member, becoming chief executive presents a tremendous opportunity to support and contribute to the Law Society's important work. 'We're at a pivotal moment for Scotland's legal sector and I plan to hit the ground running once in post, with a focus on long awaited reforms to how legal services are regulated and on supporting Law Society members in their work and advocating on the issues that matter to them.' Kevin Lang will continue as Law Society interim CEO in preparation for an ordered transition to Mr Kemp, following the departure of previous Chief Executive Diane McGiffen last month. Like this: Like Related
Zawya
27-03-2025
- Business
- Zawya
IFoA returns to Middle East for conference on 4 and 5 May 2025
The Institute and Faculty of Actuaries (IFoA) is delighted to announce that its Middle East Conference will be taking place on Sunday 4 and Monday 5 May 2025. This event will build on the success of the inaugural 2024 conference. The conference will be held in the King Abdullah Financial District Conference Center, Riyadh. A combination of presentations, panel-led discussions and networking sessions offers delegates the opportunity to discuss recent developments influencing the actuarial profession in the region. The IFoA Middle East Conference is a platform to bring together IFoA members, non-members, industry specialists, and stakeholders from across the Middle East region. Attendees will be able to share and learn from innovative thinking and gain insights into key issues in the region. Sessions at this year's conference include: Empowering tomorrow: The actuarial catalyst for Saudi Arabia's Vision 2030 with Mohamed Seghir, HAYAH Insurance Medical provider banding: An analytical approach towards optimising medical provider networks with Shivash Bhagaloo, Lux Actuaries Saudi Saudi Arabia public health sector transformation with Neha Taneja and Samar Badran, Center for National Health Insurance The role of pension systems in capital market development: Experiences and lessons learned with Sundeep Raichura and Tanmeet Kaur, Zamara MENA Plus expert speakers exploring the latest in AI. Kartina Tahir Thomson, IFoA President said: 'Attendees at this year's conference will hear from expert speakers on topics such as AI, pensions systems, Saudi Arabia's Vision 2030, and public health sector transformations. The conference also offers a unique opportunity to expand your network of senior industry professionals. Further updates will be shared over the coming weeks, as we continue to develop the agenda for this event.' To book your place at the conference, visit IFoA Middle East Conference 2025 Contact Hannah Patmore, Communications Manager, IFoA Email: About the Institute and Faculty of Actuaries The Institute and Faculty of Actuaries (IFoA) is a royal chartered, not-for-profit, professional body. Research undertaken by the IFoA is not commercial. As a learned society, research helps us to fulfil our royal charter requirements to further actuarial science and serve the public interest. Actuaries provide commercial, financial and prudential advice on the management of a business's assets and liabilities, especially where long term management and planning are critical to the success of any business venture. They also advise individuals, and advise on social and public interest issues. Members of the IFoA have a statutory role in the supervision of pension funds and life insurance companies. They also have a statutory role to provide actuarial opinions for managing agents at Lloyd's of London. Members are governed by the Institute and Faculty of Actuaries. A rigorous examination system is supported by a programme of continuing professional development and a professional code of conduct supports high standards reflecting the significant role of actuaries in society. The IFoA is available to provide independent expert comment to the media on a range of actuarial-related issues, including COVID-19 and its long-term consequences, mortality, pensions, life and general insurance, health and care, finance and investment, climate change and sustainability, systems thinking, uncertainty and judgement, and risk management.
Yahoo
14-02-2025
- Business
- Yahoo
Experts warn of catastrophic losses to global GDP in coming years: 'Risks to future human prosperity'
According to a new British study, the economic impact of rising global temperatures may be far worse than previously anticipated. The Institute and Faculty of Actuaries (IFoA) found that, in the worst-case scenario, the global GDP could halve by the end of the 21st century. The report's lead author, Sandy Trust, warned that political leaders are not taking the potential consequences of global warming seriously enough. According to Trust, as relayed by the Guardian, other risk assessments failed to account for potential outcomes such as igniting global conflicts, mass migration, and rising sea levels. In simple terms, the prospect of planetary insolvency caused by unchecked ecological damage is understated. As a result, political leaders are making policy decisions based on an incomplete grasp of the facts. As the report says, according to the Guardian: "They are precisely wrong, rather than being roughly right." A problem cannot be solved unless it is fully understood, and the IFoA report expressly outlines the challenges that lie ahead. The report found that warming above 2 degrees Celsius (3.6 degrees Fahrenheit) will lead to several climate tipping points, including massive loss of life, the destruction of ecosystems, and the breakdown of nation states. Even if the 50% loss of GDP figure isn't realized, a 25% contraction of the world's economic output would still be a catastrophic outcome for global prosperity. Framing the issue in economic terms makes a compelling case for otherwise skeptical political leaders. Moreover, a worldwide issue cannot be solved with parochial thinking. As the report says, overcoming it will require nothing short of a global paradigm shift. It will be difficult, but the problem is not insurmountable. The report offers multiple recommendations for tackling the problem. The most notable is the creation of a Planetary Solvency risk dashboard to provide actionable guidance for political leaders to make sound policy choices. Additionally, the report calls for further international cooperation and oversight to meet the challenge. While the picture painted by the report lays out the risks in stark terms, there is some cause for optimism if their recommendations are taken seriously. If the terms of the Paris Agreement are actually met, the worst of the climate shocks could stabilize later in the century, according to at least one study. Do you think America has a plastic waste problem? Definitely Only in some areas Not really I'm not sure Click your choice to see results and speak your mind. Of course, that's a pretty big "if," and, as Trust explained to the Guardian, the stakes could not be higher: "Nature is our foundation, providing food, water and air, as well as the raw materials and energy that power our economy. Threats to the stability of this foundation are risks to future human prosperity which we must take action to avoid." Join our free newsletter for good news and useful tips, and don't miss this cool list of easy ways to help yourself while helping the planet.
