Keep up with what’s been happening this week in our latest actuary news round-up…

LCP responds to climate related risks government guidance

The Pension Climate Risk Industry Group (PCRIG) has published new guidance to help trustees manage and report climate-related risks in line with the Government’s Green Finance Strategy. LCP responded by saying that trustees need to take the guidelines seriously to manage climate related risks.

Proposed IFRS 17 delayed

Earlier this week, the International Accounting Standards Board (IASB) has proposed to further delay the effective date of IFRS 17 Insurance Contracts by 1 year from the initial date to 1 January 2023.

UK interest rates have gone down to the lowest ever level

Interest rates have been cut down to the lowest ever in the Bank of England’s 325-year history. Rates have been cut again from 0.25% to 0.1 in an attempt to support the UK economy during the coronavirus pandemic.

Trading floor in the New York Stock Exchange (NYSE) closes

After some staff have tested positive for COVID-19 in the NYSE the trading floor has been closed with The Intercontinental Exchange saying that buying and selling of shares will happen electronically from 23rd March.

Chancellor promises £330bn loans to businesses affected by pandemic

 The chancellor, Rishi Sunak, has announced that the government will provide state-backed loans of £330bn to support businesses and people affected by the coronavirus pandemic to help keep the economy stable.

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