For immediate release - Actuaries Climate Indexa immediate release ... education, the SOA’s mission is to advance actuarial knowledge and to enhance the ability of ... Microsoft Word - Spring 2017 Press Release ENG.docx

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  • Forimmediaterelease

    ActuariesClimateIndexSpring2017DataReleased

    SeaLevelsinAtlantic,GulfCoastRegionsKeepFiveYearMovingAverageatCurrentHighWashington,D.C.,Arlington,VA,Schaumburg,IL,andOttawa,ON(January17,2018)

    OrganizationsrepresentingtheactuarialprofessioninCanadaandtheUnitedStatestoday

    reportednewActuariesClimateIndexdatathatrevealsthefiveyearmovingaverageof

    climateextremesacrossthetwocountriesremainsatthehighrecordedinwinter20162017,

    drivenbysealevelchangesintheAtlanticandGulfCoastregions.

    Sealevelshaveovertakenhightemperaturesasthebiggestsinglefactorbehindthe

    recordaveragesinclimateextremesmeasuredbytheActuariesClimateIndex,notedactuary

    KevinRyan,MAAA,FCAS.SealevelmeasurementsintheAtlanticcoastandGulfCoastregions

    wereparticularlyimportantinkeepingthemovingindexvalueatitscurrenthighlevel.

    ThefiveyearmovingaverageoftheActuariesClimateIndexforspring2017was1.14,

    thesamevalueasreportedinthepreviousquarter,whichwasarecord.Sealevel,oneofthesix

    componentsoftheindex,hasbeenhighestinrecentyearsintheSoutheastAtlanticregion

    (fromVirginiatoLouisiana)andintheSouthernPlainscoastalregion(Texas).Sealevelsinthe

    CentralEastAtlantic(fromMarylandtoMaine)andNortheastAtlantic(Canadianmaritime)

    regionsalsocontributedtotheincreasedsignificanceofthecomponent.

    Inaddition,theseasonalActuariesClimateIndexvalueinspring2017was1.66,

    comparedto1.94inwinter20162017,makingthespringtheseventhconsecutiveseasonwith

    anelevatedvalueofabove1.5.Thesustainedelevatedindexvaluereflectscontinueddeviation

    ofclimateextremesfromhistoricallyexpectedpatternsforthetwocountries.

  • TheActuariesClimateIndexisbasedonanalysisofseasonaldatafromneutral,scientific

    sourcesforthesixdifferentindexcomponentscollectedsince1961.Theindexmeasures

    changesinextremesofhighandlowtemperatures,highwinds,heavyprecipitation,and

    drought,aswellaschangesinsealevel,expressedinunitsofstandarddeviationsfromthe

    meanforthe30yearreferenceperiodof1961to1990fortheUnitedStatesandCanada

    combined.

    Theindex,sponsoredbytheAmericanAcademyofActuaries,theCanadianInstituteof

    Actuaries,theCasualtyActuarialSociety,andtheSocietyofActuaries,isdesignedtoprovide

    actuaries,publicpolicymakers,andthegeneralpublicwithobjectivedataaboutchangesinthe

    frequencyofextremeclimateeventsoverrecentdecades.

    UpdatedvaluesarepostedquarterlyonActuariesClimateIndex.orgasdataforeach

    meteorologicalseasonbecomesavailable.Theorganizationsarealsodevelopingasecond

    index,theActuariesClimateRiskIndex,tomeasurecorrelationsbetweenchangesinthe

    frequencyofextremeeventsasmeasuredbytheindexandeconomiclosses,mortality,and

    injuries.

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    CanadianInstituteofActuariescontactinformationFormoreinformationortosetupaninterviewwithanactuary,pleasecontact:JoseGonthierManager,Communicationsjosee.gonthier@ciaica.ca6132368196,poste106

    AbouttheSponsoringOrganizationsTheAmericanAcademyofActuariesisa19,000memberprofessionalassociationwhosemissionistoservethepublicandtheU.S.actuarialprofession.Formorethan50years,theAcademyhasassistedpublicpolicymakersonalllevelsbyprovidingleadership,objectiveexpertise,andactuarialadviceonriskandfinancialsecurityissues.TheAcademyalsosetsqualification,practice,andprofessionalismstandardsforactuariesintheUnitedStates.

    TheCanadianInstituteofActuaries(CIA)isthenational,bilingualorganizationandvoiceoftheactuarialprofessioninCanada.Itsmembersarededicatedtoprovidingactuarialservicesandadviceofthehighestquality.TheInstituteholdsthedutyoftheprofessiontothepublicabovetheneedsoftheprofessionanditsmembers.

    TheCasualtyActuarialSociety(CAS)isaleadinginternationalorganizationforcredentialingandprofessionaleducation.Foundedin1914,theCASistheworldsonlyactuarialorganizationfocusedexclusivelyonpropertyandcasualtyrisksandservesover7,000membersworldwide.ProfessionalseducatedbytheCASempowerbusinessandgovernmenttomakewellinformedstrategic,financialandoperationaldecisions.

    Withrootsdatingbackto1889,theSocietyofActuaries(SOA)istheworldslargestactuarialprofessionalorganizationwithmorethan28,000actuariesasmembers.Throughresearchandeducation,theSOAsmissionistoadvanceactuarialknowledgeandtoenhancetheabilityofactuariestoprovideexpertadviceandrelevantsolutionsforfinancial,businessandsocietalchallenges.TheSOAsvisionisforactuariestobetheleadingprofessionalsinthemeasurementandmanagementofrisk.

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