Flawed hiring process for actuarial consultants uncovered…Keep up to date with the latest actuarial news in our weekly round-up…

RBS chief’s £350k a year pension faces shareholder rebellion

Shareholders are preparing to rebel against pay policies at the Royal Bank of Scotland ahead of its annual general meeting; while chief executive Ross McEwan is set to pocket £350,000 in pension contributions.

‘Fundamentally flawed’ hiring process for actuarial consultants uncovered

Life insurers are failing to find value for money in actuarial consultants due to “intrinsic” weaknesses in the hiring process, a survey by Barnett Waddingham has uncovered. Out of 45 UK insurers surveyed, they have found that most companies assess the value of actuarial consultants based on their “return of investment” and “cost & governance savings”.

UK firms expect to give 2.5% basic pay rise this year

British private sector employers expect to give workers a 2.5% basic pay rise this year. Although Xpert HR has found that some are waiting until Brexit plans are clearer.

Solvency II regulations hindering sustainable investments, ABI warns

The Association of British Insurers has declared that billions of pounds could be unlocked for sustainable investments in Europe if Solvency II regulation is changed.

The Bank of England to set new rules on Climate Change risk – Carney 

The Bank of England will soon spell out how it wants banks, insurers and investment companies to manage the financial risks from climate change, Governor Mark Carney said on Thursday.

TUC passes motion to tackle gender pension gap

The Women’s Trades Union Congress (TUC) has passed a Prospect motion calling for greater action to tackle the gender pension gap as it “deplores” the lack of progress being made.

Insurance sector making steady gender diversity improvements

Gender diversity has improved at nearly all levels of the UK’s insurance industry, new research has found; although the number of women in senior roles remains low.

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