Monday 6 May to Wednesday 8 May 2013 Ani Plaza Hotel, Yerevan, Armenia

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1 3 rd CIS Congress of Actuaries Monday 6 May to Wednesday 8 May 2013 Ani Plaza Hotel, Yerevan, Armenia The Third CIS Congress of Actuaries took place from Monday 6 May to Wednesday 8 May 2013 at the Ani Plaza Hotel, Yerevan, Armenia, at the invitation of the Actuarial Society of Armenia (ASA). The previous Congresses for CIS countries took place in Moscow, Russia on November 2008 and in Almaty, Kazakhstan on October The series of CIS Congresses, focussed on the countries which were at one time part of the Soviet Union, builds on the experience of organising IAA Fund meetings from 1994 onwards for Central and Eastern Europe. The Opening on Monday featured remarks from the President of the Actuarial Society of Armenia, Ms Astghik Ananyan, followed by keynote speeches by Mr Vache Gabrielyan, Minister of Finance of the Republic of Armenia, and by Mr Armenak Darbinyan, Member of the Board of the Central Bank of the Republic of Armenia. Also present was Mr Hrant Suvaryan, the Head of the Financial Supervision Department at the Central Bank. There followed a presentation on behalf of the IAA by Chris Daykin, Chief Executive of the IAA Fund, focussing primarily on developments in actuarial education and international actuarial standards of practice. The first three speeches (in Armenian) were covered by three television channels, and highlights were broadcast later in the day. Interpretation was provided between Armenian and English in the opening session. The proceedings of the rest of the Congress were in English, although an interpreter was provided to sit with some Russian-speaking delegates to assist them to understand the English. After the coffee break Tarmo Koll, Chairman of the Advice & Assistance Committee of the IAA, introduced the role of the IAA, particularly with regard to support for the development of the profession in new countries. Country reports were then presented by speakers from Armenia, Belarus, Kazakhstan, Moldova, Ukraine and Uzbekistan. On Tuesday morning there were lectures on health care financing from Ibrahim Muhanna, member of the IAA Fund Sub-committee of the IAA Advice & Assistance Committee of the IAA and Chairman of the Muhanna Foundation. In the afternoon there were lectures on Enterprise Risk Management by David Wilmot, Director of Education for BPP Professional Education. Each lecturer gave about three hours of lectures. On Wednesday Chris Daykin and Tarmo Koll facilitated a one day professionalism course, which met the requirements for the Institute and Faculty of Actuaries for Professional Skills Training. This was attended by 30 members of the Actuarial Society of Armenia, as well as by 10 of the representatives from other CIS countries.

2 Speakers and participants from other CIS countries were accommodated at the Ani Plaza Hotel, Yerevan, Armenia, where the meetings also took place. The costs of the meeting room, lunches and refreshments, were met by the IAA Fund. Financial sponsorship for the meeting was provided by IngoArmenia, Rossgostrakh, SIL Insurance, Armenpress and USAID. This, together with registration fees (of CAD55 per person), covered the other costs of the meeting, such as the gala dinner and interpretation. The IAA Fund gave bursaries to pay some or all of the costs of 6 participants from 6 different CIS countries other than Armenia. The cost of bursaries from the IAA Fund was USD 4,527 for travel expenses and USD 1,940 for accommodation costs. The total cost for the bursaries is expected to be around USD 6,470. The IAA Fund made a contribution of USD 2,720 towards the costs of the meeting to cover the hire of the meeting room itself, coffee/tea break refreshments and lunches for the non-armenian participants staying at the Ani Plaza Hotel, bringing the total cost to the IAA Fund to USD 9,200. In addition the IAA Advice & Assistance Committee incurred costs of USD [8,000] in reimbursing the travel and accommodation expenses for Tarmo Koll, Chris Daykin, Ibrahim Muhanna and David Wilmot. Participation by country at the meeting was as follows: Country No of participants No of bursary recipients Armenia 35 Belarus 2 2 Georgia 2 Kazakhstan 2 1 Moldova 1 1 Russia 1 1 Ukraine 1 Uzbekistan 1 1 TOTAL 45 6 Apart from speakers a total of 45 people attended the 3 rd CIS Congress of Actuaries, 35 of whom were from Armenia. The IAA owes sincere thanks to the Actuarial Society of Armenia for hosting the meeting and for the support provided. Special thanks are also due to the sponsors, IngoArmenia, Rossgostrakh, SIL Insurance, Armenpress and USAID. Chris Daykin Chief Executive, IAA Fund 9 May 2013

THE 3 RD CIS CONGRESS OF ACTUARIES Monday May 6: 9:30-10:10 Registration 10:10 Opening ceremony 10:10-10:20 Welcoming speech Astghik Ananyan - President of Actuarial Society of Armenia 10:20 10:30

standards of practice and an update on developments in actuarial education Chris Daykin Chairman of IAA Fund (keynote speaker) 11:00-11:30 Coffee break 11:30 11:50 The IAA and its Advice & Assistance

3 THE 3 RD CIS CONGRESS OF ACTUARIES Monday May 6: 9:30-10:10 Registration 10:10 Opening ceremony 10:10-10:20 Welcoming speech Astghik Ananyan - President of Actuarial Society of Armenia 10:20 10:30 Opening speech Vache Gabrielyan - Minister of Finance (keynote speaker) 10:30 10:35 Opening speech Armenak Darbinyan Member of the Board of the Central Bank 10:35 11:00 The development of actuarial standards of practice and an update on developments in actuarial education Chris Daykin Chairman of IAA Fund (keynote speaker) 11:00-11:30 Coffee break 11:30 11:50 The IAA and its Advice & Assistance Committee Tarmo Koll Chairman of the IAA Advice and Assistance Committee 11:50 13:00 Presentations Actuaries from CIS countries (each presentation 7 minutes) 13:00-14:00 Lunch 14:00-18:00 Sightseeing - Mashtots Institute of Ancient Manuscripts (Matenadaran) and Cafesjian Museum of Modern Sculpture 18:00-20:00 Free time 20:00 Gala dinner in Elen restaurant (departure from Ani at 19.40)

4 Tuesday May 7: 8:45 9:15 Registration 9:15-9:30 Introduction of the programme of the day 9:30-11:00 Part 1: Public health insurance and its financing Speaker - Ibrahim Muhanna 11:00-11:20 Coffee break 11:20-13:00 Part 2: Public health insurance and its financing Speaker - Ibrahim Muhanna 13:00-14:00 Lunch 14 :00 15:30 Part 1: Risk management in companies Speaker - David Wilmot 15:30-15:50 Coffee break 15:50-17:30 Part 2: Risk management in companies Speaker - David Wilmot Wednesday May 8: 8:30 9:00 Registration and refreshments 9:00 9:15 Introduction of the programme of the day 9:15 10:10 Introduction to Professionalism 10:10 10:20 The IAA Code of Conduct and comparison with The Actuaries Code 10:20 11:45 Generic Case Studies (including refreshments) 11:45 13:00 Actuary in the Dock (video) and discussion 13:00 14:00 Lunch 14:00 14:30 Specialism Presentation combined life and general insurance 14:30 16:00 Specialism Case Studies (including refreshments) 16:00 17:00 Closing ceremony, handing out of certificates, reception This Professional Skills Course (PSC) is facilitated by Chris Daykin (Institute & Faculty of Actuaries) and is designed to meet the professionalism training requirements of the UK profession for newly qualified Fellows and for students required to attend a PSC when they have been a member of the profession for four to six years. It will also provide up to 6½ hours professionalism CPD for other qualified actuaries and students. Total potential CPD for the three day meeting is 14 hours

5 Speakers David Wilmot Actuarial tutor worked for ActEd (UK) for the last 10 years Director of Education for BPP Professional Education (USA) Member of UK Profession s Education Committee: Member of IAA Actuarial Educators Subcommittee: Ibrahim Muhanna Vice President of the Technical Commission for Statistical, Actuarial and Financial Studies of the International Social Security Association (ISSA) President of the Lebanese Association of Actuaries Chairman of the Muhanna Foundation Actuarial consultant in health care financing issues in the Middle East and further afield Tarmo Koll Chairman, Advice and Assistance Committee of the International Actuarial Association Actuary for Ergo in Estonia Past President of Estonian Actuarial Association Christopher Daykin Chief Executive, IAA Fund Fellow of the Institute of Actuaries Government Actuary of the United Kingdom from 1989 to 2007 President of the Institute of Actuaries between 1994 and 1996 Chairman of the Groupe Consultatif Convenor of the Standards Project Team of the Groupe Consultatif Chairman of the Pensions, Benefits and Social Security Section of the IAA,

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