New Chairperson Named for Actuarial Standards Board

OTTAWA, Dec. 23 /CNW Telbec/ - John Solursh, Chairperson of the Actuarial Standards Oversight Council (ASOC), is pleased to announce the appointment of A. David Pelletier, FCIA, FSA, to the Actuarial Standards Board (ASB) effective January 1, 2010, in advance of taking over the position of Chairperson from Charles McLeod, FCIA, FSA on July 1, 2010.

According to Mr. Solursh, "The mission of the Actuarial Standards Board is to develop, establish and maintain Standards of Practice, which govern actuarial practice in Canada. The ASB has made tremendous progress since its inception in 2007, and Mr. Pelletier's background and leadership experience are such that the ASOC is confident that he is highly qualified to pilot the ASB in its efforts for the next two years."

Mr. Pelletier qualified as Fellow of the Canadian Institute of Actuaries in 1977. He spent a good part of his career working for the consulting firm of Towers Perrin, with assignments in Canada, Brazil and Italy. In 1995, he joined RGA Life Reinsurance Company of Canada, becoming its President and CEO in July 2003. In 2006, Mr. Pelletier became Executive Vice President of RGA Reinsurance Company of Chesterfield, Missouri.

He was President of the Canadian Institute of Actuaries in 2002-2003, which was the culmination of many years of volunteer activity with the Institute.

Created in June 2006, the ASB was very capably led by its first Chairperson, Geoffrey I. Guy, BSc, FCIA, FSA, MAAA, and currently by Charles McLeod, FCIA, FSA. According to Mr. Solursh, "The profession and the public have been very fortunate to have had such formidable individuals lead the work of the ASB. The progress made in the last four years has been truly remarkable.

Developing Standards of Practice is a critical task for the profession and the public. They are complex, not easy to generate, and they need to be thoughtfully and carefully established. In my view, David Pelletier is the right person for the work ahead and I have every confidence that he will hit the ground running on July 1st, when he takes over as Chairperson," said Mr. Solursh.

The Actuarial Standards Oversight Council supervises the actuarial standard-setting processes of the Actuarial Standards Board to ensure that they are appropriate and responsive to the public interest.