Partners Life has made its first in-house recruitment for Appointed Actuarial services & more…Keep up with what has been happening this week in our latest actuary news round-up…
Partners Life have brought in highly experienced Appointed Actuary (AA) Kate Dron. Appointed Actuaries have a critical legislated role in the insurance industry to measure and report on material risks that can threaten the financial condition and solvency of an insurer, the Reserve Bank said when it conducted a thematic review of the Appointed Actuary role last year.
Legal & General Assurance Society Limited (“Legal & General”) announces that it has agreed a £760 million buy-in with the Sanofi Pension Scheme (“the Scheme”), securing the benefits of c2,900 retirees. The transaction represents the Scheme’s first Pension Risk Transfer (PRT) transaction with Legal & General, after being a long-term asset management client.
Pensions and investments expert Pallavi Aston has joined Barnett Waddingham as a Partner. As one of the firm’s Senior Investment Consultant team, she specialises in providing strategic investment advice. Speaking on the news, Aston noted, “I’m excited to be joining a firm that has a unique clarity of purpose built around clients and to have the opportunity to make a real difference to client outcomes. For me work is an important part of life and it was key to join a firm whose core values of integrity, excellence and diversity were aligned with my personal values.”
Actuarial modelling by the Retirement Matters Committee of the Actuarial Society of South Africa suggests that National Treasury’s “two-bucket” retirement savings proposal is likely to result in significantly higher retirement income for pensioners, by allowing future retirement savings to benefit from the power of compounding.