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Application closing date: 20 July

The IFoA is seeking to appoint new members to the Solvency UK Working Party.

Background

Solvency II was implemented at the start of 2016 following 15 years of thorough consultation. However, practical issues with its application came to light. In addition to this, the Treasury Select Committee carried out an inquiry on the possible modifications to Solvency II post Brexit. The working party’s initial scope focused on carrying out a practical review of the Solvency II regime to help guide these modifications.

In November 2022, the government announced its final proposals and the reformed Solvency II regime will be known as ‘Solvency UK’.

The renewed working party scope is to gain a clarity on the changes and possible market impact of moving from Solvency II to ‘Solvency UK’, on the non-life sector.

Roles are suitable for IFoA members who:

• work in general insurance with Solvency II experience
• feel they have the ability to lead and direct members to ensure the working party delivers its objectives, as the candidate will be given the opportunity to lead work streams
• have a strong interest in helping to shape and develop the future of the general insurance community
• have the vision to further develop the working party’s objectives
• bring a willingness to seek feedback/input from colleagues and peers
• ideally have a Solvency UK background, but this is not essential

Time commitment

Members of this working party are asked to devote 2 to 4 hours per month to further its research. This includes participation at 5 working party meetings through the year (1 to 1.5 hours each).

Meetings will be held via conference call to allow us to widen this opportunity to all members. Location is not a barrier. Calls will be arranged at a mutually convenient time for all involved.  

Ideally we would like members to be available to present the findings at GIRO 2025. 

Next steps

If you are interested in this role and would like an informal conversation before applying, please email us at engagement.team@actuaries.org.uk.

If you have read all the above and would like to apply, please send us:

• brief details of your relevant experience
• your reasons for wishing to get involved
• your ARN (if you are a member)
• confirmation that you have read, understood, and agree to the information and requirements laid out in our volunteer information pack (please be aware that until we have received this confirmation, we will not be able to appoint you as a volunteer)

Please email all the above to engagement.team@actuaries.org.uk. Please note, we are unable to accept late applications.

We are committed to promoting diversity, equality of opportunity, and inclusion, within all our vacancies and we actively encourage applications from a diverse range of potential candidates. Recognising and embracing the unique and diverse talents of our volunteers is fundamental to the success of our organisation.

What you need to know

Volunteering provides you with a wide range of opportunities. With all rights and opportunities come responsibilities and we ask all our volunteers to comply with the terms of the IFoA’s governance manual and volunteer information pack. Before offering to provide support, please read through: what you need to know.