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Every year SCOR rewards the best academic projects in the field of actuarial science, nominated under the auspices of its Actuarial Awards or “Prix de l’Actuariat”. These actuarial prizes, designed to enhance the actuarial intellectual capital of the future, promote and encourage research in actuarial science and risk management. This year a total of around €25,000 was awarded in Europe. The Actuarial Awards usually take place in France, the United Kingdom, Italy and Germany. An additional awards ceremony is scheduled to take place in Switzerland as of next year.
André Lévy-Lang, Associate Emeritus Professor at l’Université Paris-Dauphine and President of the Jury, along with Denis Kessler, Chairman and CEO of SCOR SE, awarded the 2007 France prizes on 3 December 2007 in Paris. Two prizes were awarded, to Pierre Thérond of the Institut de Science Financière et d’Assurances (ISFA) for his thesis on “Measuring and managing insurance risks: a critical analysis of future standards” (“Mesure et gestion des risques d’assurance : analyse critique des futurs référentiels”) and to Géraldine Krauth of the Conservatoire National des Arts et Métiers (CNAM) for her dissertation on “Reserving and correlations between branches” (“Provisionnement et corrélation entre branches”).
Professor Riccardo Ottavani (Università La Sapienza, Rome) awarded the 2007 Italy prizes on 22 November 2007 in Milan, in the presence of Umberto Gavazzi, Europe, Middle East and Africa Director of SCOR Global P&C. Two prizes were awarded, to Brunella Lando (Università del Sannio, Benvenuto), for her study entitled “A stochastic model for the valuation of loss reserves in the Solvency II framework: The Mack model” (“Un modello stocastico per il calcolo della riserva sinistri nell’ottica Solvency II: Il modello di Mack”) and to Isabella Silvestri (Università Cattolica del Sacro Cuore, Milan) for her work on “The valuation of loss reserves in property and casualty insurance: deterministic and stochastic actuarial models” (“La valutazione della riserva sinistri nelle assicurazioni danni : metodi attuariali deterministici e stocastici”).
Chris Daykin, Head of the British Government Actuary’s Department, awarded the 2007 UK prizes in London on 21 November 2007 in the presence of Denis Kessler. Two prizes were awarded, to Jonathan Richardson of Cass Business School, City University London, for his work entitled “The shape of things to come: the effect of obesity on mortality rates in the UK” and to George Aristides of the same business school for his study entitled “Modelling utility under uncertainty: further along the alternative path”.
Every year the juries, composed of university teachers and insurance, reinsurance and finance professionals, reward works demonstrating an excellent command of actuarial concepts and quantitive analysis instruments, dealing with subjects that could have a practical application in the world of risk management.
These awards confirm the importance that SCOR has been placing on the development of actuarial science in Europe for the past 16 years. With this unique pan-European approach to furthering actuarial expertise, SCOR plays an important role in the development of vital young talent for the benefit of the insurance and reinsurance industries.
