Die Deutsche Aktuarvereinigung e.V. The German Association of Actuaries General Overview
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 2
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 3
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 4
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 . 5
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 or 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. 6
Our members, the German actuaries Development of membership numbers 6000 5000 4000 3000 2000 1000 0 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 7
Our members, the German actuaries Age distribution 5,75% 10,65% 24,15% 31,04% 44,23% 66-100 J. 56-65 J. 46-55 J. 36-45 J. 21-35 J. 8
Our members, the German actuaries Gender distribution 700 600 500 400 300 200 100 0 21-30 31-35 36-40 41-45 46-50 51-55 56-60 61-65 66-75 76-85 86-100 männlich weiblich male female 9
Our members, the German actuaries DAV members are working in … Consulting companies; 17,7% Reinsurance companies; 12,4% Other; 2,9% Public insurance; 3,6% Insurance institutions; 2,5% Self-employed; 2,1% 10,5% Associations, Authorities, Ministries; 1,1% Research / Teaching; 1,0% Auditors; 0,6% Insurance companies; 55,7% Banks / Investment companies; 0,2% Building Societies; 0,2% Source: DAV Membership Survey 2014 10
Our members, the German actuaries DAV members are working in … 60% 50% 40% 30% 20% 10% 0% Life Pensions Casualty Risk Health Other Building Insurance Insurance Management Insurance Societies Source: DAV Membership Survey 2014 11
Organisation of DAV Professionalism Committee Each Committee decides independently on the establishment of Education & Examination Committee CPD Committee working groups; currently about 60 Life Insurance Committee Health Insurance Committee Executive Board Non-Life-Insurance Committee HUK Committee Occupational Pensions Committee Accounting & Regulation Committee Investment Committee ERM Committee International Committee Secretariat employees Seated in Cologne with 28 DAV 12
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 13
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
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