IFoA Middle East Conference 2024: Head of actuarial (HAF) panel

Moderator: Samih Geha, Chief Actuary, Nitaq 

Nasser Aljudayi, Director of Actuarial and Analytics, Bupa Arabia 

Tarek Alameh, Senior Executive Director – Actuarial, Tawuniya 

Khurram Amin - VP Actuarial, Al Rajhi 

Mahmoud M Almalki, Actuarial Studies General Manager, GOSI 

Dana Barhoumeh, Chief Actuary, Saudi Re

IFoA Middle East Conference 2024: Pricing: beyond GLM, leveraging machine learning

Accurate technical pricing is of critical importance commercially and, in many instances, the regulatory responsibility of actuaries. There are significant opportunities to enhance technical approaches we use for pricing. This interactive workshop introduces common machine learning techniques increasingly used in developed markets to supplement GLM. It presents analysis and results based on (anonymised) market data to ensure this is relevant and recognises the realities of the local market.

Hasham Esmail Piperdy, BADRI

IFoA Middle East Conference 2024: Professionalism

Speaker: Imran Haider

IFoA Middle East Conference 2024: Saudi Arabia’s new risk-based capital requirements 

This session provides a comprehensive benchmarking analysis. It compares the key principles, methodologies, and quantitative requirements of Saudi Arabia’s risk-based capital regime with the Solvency II directive. 

It also explores the potential challenges and pitfalls to anticipate during the transition. This part of the discussion draws from the collective experience of insurers that have undergone similar transformations under Solvency II or other risk-based capital regimes. 

Raghav Ohri, Lux Actuaries and Consultants

Speaker: Imran Haider

There is a lack of knowledge which many financial institutions have about infrastructure investment. This working party will undertake research to uncover information about the risks and rewards which investing institutions are likely to experience 

Many financial institutions still believe that they do not know enough about infrastructure investment. The working party undertakes research to uncover information about the risks and rewards that investors are likely to experience. 

The working party since its inception has collaborated with the policy team on its policy work on Infrastructure. 

Chair: Chris Lewin 

Members: 12 

Established: 2014

Published Content:

• PPPs – opportunities for investment
  
• Telecom Infrastructure Primer
  
• Risks and returns infrastructure investment paper
  
• Resilience study scoping consultation - IFoA response to National Infrastructure Commission
  
• Infrastructure Finance Review, IFoA response to HM Treasury
  
• National Infrastructure - Assessment consultation
  
• Risk and Investment Conference
  
• Momentum Conference: Infrastructure – a sensible investment?
  
• Infrastructure investment - an introductory guide
  
• Infrastructure Risks - presentation for KSS event
  
• Resilience Assessment Methodology for National Infrastructure Commission
  
• Infrastructure Finance Policy Briefing
  
• Private Finance for Public Infrastructure
  
• Public private partnerships - why the time is ripe for a new generation of smarter PPPs to flourish
• Managing infrastructure resilience and adaptation
• Blog post: Is it time for a new generation of public-private partnerships? November 2024
  
• An introduction to some key issues for long term institutional investors investing in infrastructure
  

PPPs

public-private partnerships 

This panel discussion will explore key issues and challenges in AI risk management from an actuarial perspective based on discussions and outcomes from a transregional industry focus group. The session will define the gaps and challenges faced when it comes to implementing and using modern modelling techniques from a risk-perspective, in the context of regulation. They will also discuss best practice guidelines and how to take a practical approach to AI risk management. Practical outcomes include: an overview of key issues related to data science and AI regulation and risk management from an actuarial perspective; industry examples of the key modelling issues in practice in traditional and non-traditional actuarial work; best practice guidelines for data science and AI risk management; practical tips for data science and AI risk management; This discussion is aimed at participants who are looking to implement AI or data science within their functions or looking to improve their risk management in these domains. No prior technical knowledge on the topic is required. Research findings from the working group is available on request at info@actuartech.com. Comments on the panel discussion are invited either before or during the session.

Speakers: Valerie duPreez, Dupro Advisory Actuartech, Richard Galbraith, Canada Life, Charles Cowling, Mercer, Perry Thomas, Chair of the AI Ethics Working Party, Kalpana Shah, IFoA President-elect

Speakers Alan Marshall, IFoA

Collective Defined Contribution (CDC) schemes are a new kind of pension scheme for the UK, featuring fixed contributions, investing collectively and paying variable income for life. CDC schemes bring advantages for workers and employers over other pension designs and also bring new challenges for pension design and management. Actuaries have a large part to play in this work. CDC schemes were first enabled in the UK by the Pension Schemes Act 2021, with further variations due to be enabled in future. The UK’s first CDC scheme was approved by the Regulator in 2023. The IFoA aims to aid the development of UK CDC pensions in the public interest. 

The party works to support this aim - including by: 

Chair: Simon Eagle 

Established: 2018

Published Content:

• CDC the route to effective scheme design
  
• Delivering Collective Defined Contribution Pension Schemes IFoA response to the Department for Work and Pensions
  
• Pensions Conference 2019: Collective Defined Contribution (CDC) pensions - Bringing CDC to the UK
  
• IFoA Autumn Pensions Seminar: Collective Defined Contribution (CDC) pensions - Bringing CDC to the UK
  
• CDC schemes must be financially robust and focus on protecting members