2025
Greetings from the new President
Hitoshi WatanabePresident
The Institute of Actuaries of Japan
My name is Hitoshi Watanabe, and I am honored to have been appointed as the President of the Institute of Actuaries of Japan (IAJ) as of April 1, 2025. It is a pleasure to share my thoughts with you on the occasion of this appointment.
In recent years, Japan's economy and society have been experiencing profound transformations, shaped by environmental factors such as a declining birthrate, an aging population, the urgent need for sustainable development, and advancements in digital transformation. Against this dynamic backdrop, the role of actuaries has become increasingly significant. It is essential that we apply our specialized knowledge and uphold our steadfast ethical standards to make meaningful contributions to society through the meticulous fulfillment of our professional duties.
On behalf of the IAJ, I would like to express our heartfelt gratitude to former President Ueda for his outstanding contributions to the development of the association and its members. His remarkable initiatives include the creation of the "Framework for the Qualification of Validation Actuaries for Insurance Liabilities" (the "Framework Proposal") to ensure alignment with international regulatory standards, as well as the establishment of the "Educational Syllabus" to address the growing complexity and sophistication required of actuarial professionals.
The fiscal year 2025 will bring the implementation of economic value-based solvency regulations. We are committed to finalizing the Framework Proposal and associated documents in preparation for the expected enactment of relevant legislation and regulations this summer. Moreover, as the host nation for the International Congress of Actuaries (ICA) in 2026, we will continue advancing the planning and execution of this significant event.
In addition, as a progressive organization, we remain steadfast in our pursuit of innovation through the exploration of data science technologies, research into climate-related risks, sustainability initiatives, and advancements in artificial intelligence.
As emphasized previously, the current environment necessitates that each actuary continuously strive to enhance their individual knowledge and professional capabilities, thereby strengthening their professional standing. To support actuaries in meeting these demands and fulfilling their societal responsibilities, we will focus on refining our educational framework and providing opportunities for members to engage in collaborative learning and mutual improvement, fostering the vitality of our association as a whole.
The activities of our association are driven by the dedicated and voluntary efforts of our committees and subcommittees. With the collective understanding and cooperation of our members, we remain committed to achieving excellence in actuarial science and further elevating the reputation of the actuarial profession.