New Chairperson Named for Actuarial Standards Board

    OTTAWA, Jan. 30 /CNW Telbec/ - John Solursh, Chairperson of the Actuarial
Standards Oversight Council (ASOC), is pleased to announce the appointment of
Charles McLeod, FCIA, FSA, to the position of Chairperson of the Actuarial
Standards Board (ASB), effective July 1, 2008.
    Says 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 is now a year and a half old and has a number of
important initiatives underway. Mr. McLeod's background and experience make
him the perfect choice to take on the role of Chairperson and to lead the ASB
through its heavy agenda for the next two years."
    Mr. McLeod qualified as an actuary in 1969. He spent most of his career
working for, or consulting to life insurance and reinsurance companies. Since
qualifying as an actuary, he has worked mainly in Canada, but he has also
lived and worked in South Africa, Australia, and the United Kingdom.
    He was President of the Canadian Institute of Actuaries in 2005-2006, and
among his many accomplishments that year, he laid the groundwork for the
creation of an independent standard-setting process for the Canadian actuarial
profession, in the public interest. In response to increased expectations for
accountability and transparency in the new business environment, the resulting
bodies, the ASB and the ASOC, were established by the Institute as independent
organizations empowered with mandates for developing actuarial Standards of
Practice and overseeing the standard-setting process.
    Created in June 2006, the ASB was capably led by Geoffrey I. Guy, BSc,
FCIA, FSA, MAAA. According to Mr. Solursh, "I believe both the profession and
the public owe a deep debt of gratitude to Mr. Guy for the ASB's remarkable
accomplishments in the past two years. These include crafting a new due
process for the adoption of Standards of Practice."
    "Standards of Practice are tremendously important to the profession and
to the public. They take time, thought and great care to get them just right.
I know that Mr. McLeod is looking forward to receiving the baton on July 1,
and moving actuarial Standards of Practice forward in the public interest,"
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.

For further information:

For further information: Nancy Jenkinson, ASOC Support Staff, (613)
236-8196, ext. 113,; Josée Racette, Communications
Assistant, (613) 236-8196 ext. 107

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Canadian Institute of Actuaries

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