• The Society
• Rules
• History
• Activities
• Code of Conduct
• Publications
• The Foundation for
  Promotion of the
  Actuarial Profession

Annual Report 1998

The Society held nine meetings in 1998 with the following presentations:

23 February

Luis Alvarez: On real valued options.

24 March

Jaakko Tuomikoski, Markku Paakkanen, Markku Vesterinen and Hannu Parviainen told about their activities in the IAA and the Groupe Consultatif.

27 April

Jukka Kurki: On the prudency of valuing annuities in individual pension policies.

10 May

Dmitrii Silvestrov: Mathematics for Insurance and Finance; practice, mathematical modelling and education.

27 May

Christina Lindell: On the changes in Swedish pension insurance.

24 August

Tarmo Pukkila: On the year 2000 problems in insurance companies.

28 September

Eero Pätäri: Portfolio performance measurement.

2 November

Mikko Karpoja: Pension insurance morbidity model.

8 December

Luis Alvarez: From Local Theory of Risk Aversion to an Intertemporal Theory of Risks under Discrete Choices.

Further to the above mentioned meetings the Foundation for the Promotion of the Actuarial Profession arranged a seminar on life insurance profitability. The seminar provided a forum for discussion for more than 160 participants. The opening speakers were:

• Ron Akhurst: From profit analysis to appraisal value.
• Peter Clark: The UK bonus practice in with-profit policies.
• Bob Yates: European life market &endash; dreams and realities.

The board of the foundation granted the following awards during the year under review:

• Antti Korhonen: For developing a model for strategic financial management in a multi-company financial conglomerate.
• University of Tampere: For an international conference on statistics.

There were 92 full members and 184 ordinary members at the end of the year. The Society had five honorary members at the end of the year 1998.

The board of the Society had ten meetings and consisted of the following members (end of mandate in brackets)

• Jaakko Tuomikoski, President (2000)
• Jorma Leinonen, Vice-President (2000)
• Hannu Parviainen, Secretary (2001)
• Hillevi Mannonen (1999)
• Martti Pesonen (1999)
• Jukka Rantala (2001)

Auditors were Pertti Pulkkinen and Ari Ikonen.

The discipline process required by the IAA was added to the rules of the Society during the year under review.

The annual meeting of the Society on 15 February elected Ms Hely Salomaa as a new member of the board. Ms Mannonen retired from the board.

The Actuarial Society of Finland can be reached via its secretary:

E-mail hannu.parviainen@tapiola.fi