SOA International Experience Study (IES)Bogota, ColombiaNovember 23, 2011

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Columbia Actuaries MeetingSOA IES Overview

“ Beware Greeks Bearing Gifts ”

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IES HISTORY2002 “Brainstorming”

2003-4 International Surveys

2005 + Country Initiative and IES “Tool Kit”

2008 + IAA MWG Endorsed & Adopted IES

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IES Organization

IES

SOA

IAA MWG

Corporate Contributors

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IES Outreach Effort No Cost to participating companies

SOA confidentially compiles data

Local actuaries supervision

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Finances

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Corporate Sponsors AXA ING MetLife New York Life Prudential Financial (US) Zurich

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Finances

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Finances MOST IMPORTANT

• Volunteer Time!• Over 50 companies have participated• Over 1,000 hours invested

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Local Country Initiative Local Industry Meetings

• Rio de Janiero – September 2004• Warsaw – October 2004• Guatemala City – August 2005• Taipei / Seoul / Bangkok – August 2007• Hanoi – July 2008• Tallinn – May 2009• Zagreb – September/October 2011

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Local Country Initiative Local Actuarial Association Sponsors

• Vietnam Chief Actuaries (2006)• Actuarial Society of Philippines (2008)• Estonia Actuarial Society (2009)• Hong Kong Actuarial Society (2010)• Caribbean Actuarial Association (2010)

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Country Experience Risk exposure is country specific Examples• Argentina• Caribbean• Estonia• Philippines• Poland• Vietnam

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Experience Caution

• Early studies• “Data cleaning” is prospective (future)• Credibility (small samples)

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Contacts

Bill Horbatt: horbatt@actmasol.com

Ronora Stryker: rstryker@soa.org