Welcome from Chair of AFIR-ERM Section

1. Welcome from Chair of AFIR-ERM Section Opening Session and Ceremony Michael Sherris May 21, 2019

2. About AFIR-ERM Section • AFIR-ERM was founded in 1986. • AFIR stands for Actuarial Approach for Financial Risks and its objective was the promotion of actuarial research in financial risks and problems. • From 2011, the Section formally included Enterprise Risk Management (ERM). Expanding the section to include international discussion and research on ERM topics. • AFIR-ERM has as its primary objective the promotion of actuarial research in enterprise risk management and particularly financial risk fields, to push forward the boundaries of actuarial knowledge and to promote and facilitate an international exchange of views, advice, research and practical information among actuaries and other experts involved in these fields.

3. About AFIR-ERM Section • AFIR-ERM collaborates with FMA’s to organize an Annual Colloquia, the first of which was held in Paris in 1990. • The Colloquia • bring together actuaries of different countries and different disciplines, • provide a valuable forum for academics and practitioners to learn and keep current, • Covers the disciplines of financial economics, financial risk management and enterprise risk management, focusing on applications to insurance and pension funds. • AFIR-ERM colloquia have social benefits as well, taking place in attractive and interesting venues that contribute to a friendly and collaborative atmosphere. • Upcoming Colloquia • Joint - Life, PBSS, IACA, ASTIN and AFIR from 10 to 14 May, 2020 in Paris • Joint AFIR-ERM with ASTIN, Orlando, Florida in USA, Spring 2021, • 2022 in Sydney, Australia with ICA

4. About AFIR-ERM Section • AFIR-ERM also offers financial support to young researchers from actuarially developing countries to attend AFIR-ERM colloquia and the International Congress of Actuaries (held every four years). • AFIR-ERM members receive a subscription to the ASTIN Bulletin — The Journal of the IAA three times per year. • In 2002, AFIR-ERM established The Bob Alting von Geusau Memorial Prize. The prize is awarded annually for the best paper on an AFIR-ERM topic published in the ASTIN Bulletin • 2017 Winner presenting at this Colloquium: Probability of Sufficiency of Solvency II Reserve Risk Margins: Practical Approximations by Eric Dal Moro, YuriyKrvavych (Volume 47, Issue 3)

5. About AFIR-ERM Section • The AFIR-ERM Section provides for its members: • Colloquia/ICA • Research Call for Papers • Research grants • Workshops – at Panama Colloquium, in Bulgaria (April), upcoming in Tokyo (November) and Poland (October) and Florence Colloquium - ErmannoPitacco - ERM and QRM in life insurance: An Actuarial Primer and Andres Villegas Ramirez - Statistical Machine Learning Fundamentals: A Crash Course • Webinars - The Human Side of ERM with Dave Ingram • Monthly Reference List • Regular Newsletter • Virtual Library • How to join – IAA web site – join a section

6. About AFIR-ERM Section • The AFIR-ERM Board consists of up to fourteen members, • Board Members currently serving their terms until the year indicated below: • Michael Sherris—Australia (2019) – Chair (steps down at AGM in Florence) • Fernanda Salas – Mexico (2021) – Vice Chair (Chair from 2019) • Alexander Bohnert (2022) – (Vice – Chair from 2019) • ErmannoPitacco – Italy (2021) – Treasurer • Miwaka Yamashita – Japan (2021) - Secretary • Mark George Hayes – South Africa (2020) • Malcolm Kemp – UK (2021) • Lukasz Delong (2022) • two (2)— Gunn Albertsen and Paul Braithwaite — appointed by the IAA Executive Committee • Four new members join at the General Assembly (Annie Tay (UK/Asia), Jared Forman (USA), Eric Dal Moro (Switzerland), Mark Yu (USA)

7. About AFIR-ERM Section • Enjoy the Colloquium • Join the Section and get involved!