Life and P&C Actuary Groups May Merge

The SOA is descended from an organization founded in 1889 and now has about 30,000 members. Mike Lombardi is the SOA's president.

The CAS is an Arlington, Virginia-based group for actuaries who serve the property & casualty insurance sector. The CAS was founded in 1914 and now has about 8,000 members.

Brian Brown is the president of the CAS.

Why Merge?

The SOA and CAS boards say a merger could give the combined group more resources to address evolving fields and opportunities, improve the actuarial education system, improve efficiency and diversity of thought, and create a stronger global brand for the actuarial profession.

In a set of answers to frequently asked questions (FAQs) prepared for SOA and CAS members, the boards note that actuaries face growing competitive challenges from professionals in data science and advanced analytics.

Professionals who are in data science and advance analytics, but are not actuaries, may "seek to benefit from the rapidly evolving environment and displace or marginalize our profession," the groups say.

Resources

The SOA and CAS boards are posting information about the proposed combination here.

— Read SOA To Rethink Credentials Changes, on ThinkAdvisor.

— Connect with ThinkAdvisor Life/Health on LinkedIn and Twitter.