Management Solutions participated as a speaker at the 50th anniversary of the Institute of Spanish Actuaries (IAE) presenting, before 290 actuaries, a first version of the Actuaries Climate Index, with the aim of helping not only the insurance sector but also other industries to anticipate and project risks caused by extreme weather events
The event was aimed at providing insurance industry professionals, and in particular actuaries, with information on the impacts of climate risk and extreme events on different businesses, both in the life and non-life lines. The Actuaries Climate Index comprises six variables including temperature changes, rainfall, drought, wind and sea level rise; the behavior of these variables is compared with the historical average to identify extreme events.
Management Solutions' presentation by Marcos Fernández, partner at Management Solutions, analyzed the methodological process and final outcome of these indicators, examining each of them and their impact by climate region, season and province. Subsequently, Efren Hernandez, Director at Management Solutions, explained how these indicators will make it possible to measure climate impacts on assets and liabilities more accurately, highlighting the capabilities of the predictive tool used by the Firm.