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IA|BE meets with NBB

IA|BE meets with NBB

ByIA|BE Dated1 February 2020

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WG Actuarial Function presents output to NBB

 

  • On Friday 24 January, an IABE delegation headed by our chairman Erik Van Camp visited NBB to present the functioning and output of the Working Group Actuarial Function SII to the NBB Prudential Policy Team for Insurance.
  • So far, the WG Actuarial Function finalized 4 Guidance documents on (i) Profit Sharing, (ii) the Annual Activity Report Actuarial Function, (iii) Underwriting and (iv) Organisation of the Actuarial Function. These guidance documents are the result of regular in-depth discussions between experts on the Actuarial Function with different backgrounds and capture a neutral view on the subjects covered.
  • Currently, the WG works on similar guidance documents for Reinsurance and Data Quality and reflects upon the Actuarial Function Duties under BEGAAP and the Role and tasks of the Actuarial Function for the ORSA.
  • Laurence Cornaert, who chairs the WG Actuarial function, highlighted in the conversation the pragmatic approach of this Working Group where experts on the Actuarial function with different backgrounds can freely discuss and exchange information, for the benefit of all parties involved in the actuarial function at Belgian insurance companies.