A Worldwide Network of Actuaries Provides an International Perspective
Actuaries have long been highly valued as specialists in the insurance and pension fields, particularly in Europe and the United Kingdom, which have sophisticated insurance and pension systems, and in the United States, which has the world’s biggest insurance and pension markets. Insurance system and pension systems vary by country, but the fundamental role of a professional actuary is the same everywhere and communication across borders is extremely beneficial. The IAJ highly values its worldwide network of actuary professionals.
International Actuarial Association
The International Actuary Association (IAA) is a non-profit, non-political private organization composed of professional actuary associations from around the world with the objectives to develop the actuary profession and advance the professionalism of actuaries. The IAA provides forums for actuary associations of each country to engage in discussions and also acts as a representative of actuary organizations in gatherings and discussions with international organizations.
IAJ is a Full Member of the IAA and actively sends representatives to participate in IAA committees. Several IAJ members have served as the president of the IAA.
Special Interest Sections
The IAA has several special interest sections where vigorous academic research is carried out in various fields.
AFIR-ERM:Actuarial Approach for Financial Risks
AFIR researches investment risks in the financial field. AFIR holds an annual international conference attended by fund managers, scholars, and actuaries who exchange information and present research papers of a high academic standard.
ASTIN:Actuarial Studies in Non-Life Insurance
ASTIN researches non-life insurance areas and publishes research papers in the ASTIN Bulletin. ASTIN hosts an annual international convention for the presentation of research papers and information exchange.
IAAHS:IAA Health Section
IAAHS provides practical information and facilitates communication among actuaries around the world engaged in the medical and health insurance fields.
IAALS:IAA Life Section
IAALS promotes actuarial research and the exchange of knowledge in the field of life insurance around the world.
IACA: International Association of Consulting Actuaries
IACA promotes the exchange of views and information among consulting actuaries based on international standards on topics related to the professional responsibility of actuaries.
PBSS:Pensions, Benefits, Social Security Section
PBSS conducts research and provides a platform for discussion on matters concerning social security and pension systems
ICA: International Congress of Actuaries
The International Congress of Actuaries (ICA), presented by the IAA every four years, is a forum for actuaries from around the world to present research papers and engage in lively discussion on interesting topics following a theme for each event.
The 20th ICA held in Tokyo in 1976 attracted some 2,200 participants from 44 countries, and the opening ceremony was attended by Japan’s Crown Prince and Princess. Tokyo will host the 33rd ICA in 2026.
IAA Council: Council and Committee Meetings
The IAA Council and Committee Meetings are attended by the IAA Executive Committee and members of each council and special interest section.
Unlike the IAJ Annual Convention and the ICA where the focus is on research, the IAA Council and Committee Meetings are held to make organizational decisions and approve materials for publication. IAA Council and Committee Meetings are held in cities around the world, and convened in Tokyo in August 1999 and November 2019.
AAC: Asian Actuarial Conference
The AAC has been held in various cities since 1981 to bring together members of actuary associations from across Asia. Tokyo was the host city for the 8th conference in 1995 and the 14th conference in 2007. The theme of the 14th conference was “Actuaries in Asia; Pioneering a New Era,” and brought together over 600 participants from some 20 countries who submitted 52 research papers.
ASEA: Actuarial Seminar of East Asia
ASEA is an annual seminar in Tokyo hosted by the IAJ for young actuaries from across East Asia. Participants attend lectures on topics ranging from Japanese insurance products to the insurance market and insurance accounting, and exchange views on actuary practices. The seminars promotes interaction among actuaries in nearby countries and supports the actuary training and studies.
International Accounting Standards and the International Standards of Insurance Supervision
The International Accounting Standards Board (IASB) and International Association of Insurance Supervisors (IAIS) each discuss international standards for accounting and international insurance regulations. As a Full Member of both organizations, the IAA mainly contributes by providing technical support in quantification of insurance liability.
In addition, as a full member of the IAA, the IAJ maintains subcommittees of the International Standards Committees and actively participates and contributes opinions to the committee activities of the IAA.
Actuary Training Overseas
The IAJ regularly sponsors travel for members to participate in training sessions and annual conferences with the objectives of providing opportunities for training and education and to submit research papers and conduct presentations in English.