This English translation of “2019 Annual Report” of the Institute of Actuaries of Japan is
an unofficial translation. Only its original Japanese texts have effect, and the translation is
to be used solely as reference material to aid in the understanding of the original one.
この「2019 年度事業報告」の翻訳は公定訳ではありません。効力を有するのは日本語の資料であり、翻訳はあくまでその理解を助けるための参考資料です。

2019Annual Report
From April 1, 2019 to March 31, 2020

1. Matters concerning Annual General Meeting of Members
The General Meeting of Members was held on June 14, 2019 at the main conference room of the Instituteof Actuaries of Japan, and“Report on a summary of business activities in 2018”
was presented, and the following proposal was put before the meeting and approved as proposed:
Item 1: 2018 Approval of a Balance Sheet and Net Assets Variation Statement as well as
Inventory of Properties
Item 2: Election of the Directors and Auditors

2. Movement of members
Movements of members during the current year were as follows: for corporate members, 1 member was
newly admitted; for individual members, 295 members were newly admitted, and 219 members
withdrew from the IAJ. The number of members as of the end of March 2020 is as shown in the tablebelow.
Fellows
Associates
Students
Semi-total
Corporate members
Total

1,844
1,333
2,069
5,246
110
5,356

persons
persons
persons
persons
corporations
persons/corporations

3. Business report[A. Related to examination](A1) Implementation of qualification examination
A 3-day qualification examination was held from December 9 to 11, 2019 in Tokyo (at TOC
Gotanda) and Osaka (at Temma Training Center) and the successful examinees were announced on
February 14, 2020.
The total number of examination subjects for the primary examination was 3,714 subjects and thetotal number of subjects passed was 858 subjects. There were 109 examinees who passed all basic
subjects.

1

Mathematics

Life Insurance
Mathematics

Non-life
Insurance
Mathematics

PensionMathematics

Accounting,Economics andInvestment
TheoryNumber of examinees

1,136

774

637

442

725

Number of successful examinees

272

248

103

75

160

Passing Rates

23.9％

32.0％

16.2％

17.0％

22.1％

Primary examination（Basic subjects）

The total number of examination subjects for the secondary examination was 1,187 subjects and thetotal number of subjects passed was 181 subjects. There were 90 examinees who passed all thesubjects.
Secondary examination（Advanced subject）

Life Insurance
１

Life Insurance２

Number of examinees

362

353

163

131

82

96

Number of successful
examinees

49

64

20

22

13

13

13.5％

18.1％

12.3％

16.8％

15.9％

13.5％

Passing Rates

Non-life
Insurance１

Non-life
Insurance２

Pension１

Pension２(A2) Implementation of CERA examination
The CERA examination was held on September 25, 2019 in Tokyo (at TKP Tokyo Station
Nihonbashi Conference Center) and the successful examinees were announced on January 20, 2020.
There were 54 examinees and 7 examinees passed the examination (Passing Rates 13.0 %).

[B. Related to education, training, and research presentation](B1) Implementation of actuary courses
The actuary courses were offered for a period from May 17, 2019 to October 8, 2019. Details are
as follows.
Subject
Number of
students
Basic courses
・Probability
・Statistics
・Modeling
150 people（12 Subjects） ・Probability Exercise ・Statistics Exercise
・Life Insurance Mathematics
・Non-life Insurance Mathematics・Pension Mathematics
・Accounting
・Economics
・Investment Theory
・Life table
Intermediate・Risk Selection Theory ・Social Insurance Theory
32 people
courses
・Population Theory（7 Subjects）
・Insurance Supervision Law
・Pension Practice Regulations
・Finance Mathematics
・Risk Management Theory
The additional actuary exercise courses were offered for a period from September 24, 2019 toNovember 29, 2019. Details are as follows.
Subject (Number of students)
Additional actuary

・Life Insurance Mathematics Exercise（30 people）

exercise courses

・Non-life Insurance Mathematics Exercise（30 people）
・Pension Mathematics Exercise（23 people）
・Modeling Exercise（17 people）
2

A new specialized actuary course (ERM) was held and offered for the purpose of learning
specialized knowledge and skills related to ERM, for the period of July 20 to August 29, 2019.
Details are as follows:
ERM course(3 subjects)

Subject・Finance Mathematics
・Risk Management Theory
・ERM

Number of students
54 people

A new specialized actuary course (Data Science) was held and offered for the purpose of acquiring
specialized knowledge and skills related to data science through practical training, for the period ofJanuary 11, 2020 to March 14, 2020. Details are as follows:
Number ofContent
students
47 people<Second part>
Data Science <First part>・Introduction of R and simple ・Basic procedure for Predictive
courseModeling
Regression Model(First/Second
・Exploratory Data Analysis
・Linear Regression Modelparts)(EDA)
・Linear Discriminant Analysis
・Example model for Predictive
・Decision Tree
Modeling
・Generalized Linear Model
・Model selection and Model・Analyzing models by
evaluation method
presenting data・Practice in Regression Model・Practice in Classification
Model
Kansai Committee actuary courses were offered for a period from August to October 2019. 2 people
took the life insurance mathematics course and 1 person took the pension mathematics course.
(B2) Holding of 120th Anniversary Annual Meeting
At the milestone, which marks the 120th anniversary of the IAJ’s foundation in 1899, the annual
meeting, which is held 2 days usually, was expanded to 3 days as the 120th anniversary and heldwith the following dates.
Date: November 22(Fri), 23(Sat), 25(Mon), 2019
Venue: (November 22, 23): Keidanren Kaikan(November 25): JP Tower Hall and Conference
In commemoration of the 120th anniversary, the IAA Council and Committee Meetings were invited
to Tokyo and were held just before the 120th anniversary annual meeting (November 18 toNovember 22). (Reference to International Relations (E2).)
The following special lectures were held in this meeting <DAY 1>.
” Insurance Company Management Based on Philosophy-Beyond Tradition-”* 120th anniversary special lecture
By Mr. Yoshihiro Kawai(Adjunct Professor, Graduate School of Management, Kyoto University,
Former Secretary General of International Association of Insurance Supervisors (IAIS))

3

“Experience of "Different Dimensional Mitigation" and Recent Emergence of Fiscal
Focusing Theory including MMT”
By Mr. Hideo Hayakawa(Executive Fellow, Economic Research Center of the Fujitsu Research Institute,
Former Executive Director of Bank of Japan)“IFRS 17 – Expected roles for actuaries
By Mr. Takatsugu Ouchi (Partner, Deloitte Touche Tohmatsu LLC
Former Executive Director of International Accounting Standards Board (IASB))
On the second day, a session “Special Meeting” was planned and held as an English only program
throughout the day. The meeting was planned as a joint session with IAA meeting participants, and
Mr. Tan Suee Chieh (IFoA President-Elect) and Mr. Andrew Rallis (SOA President) were invited as
speakers for their special lectures. Also, “Parallel Sessions” were held at 3 venues by CGA (CERA
Global Association), IAA sections (ASTIN&CAS) and International relations Committee of the IAJ.
On the third day, 15 papers were presented, 9 presentations and 6 panel discussions were held.
(B3) Holding of IT Annual Meeting
A 2-day IT Annual Meeting was held on January 16 and 17, 2020 at Taiju Life Insurance Co., Ltd.
(Otemachi Nomura Building). The following special lecture was held in this meeting.
” How Information and Communication Technology will Change in Five Years～What information and communication technology will affect the insurance industry
over the next five years?～ “
By Mr. Makoto Shirota (General Manager, Senior Researcher,
Digital Platform Development Department, Nomura Research Institute, Ltd.)A presentation by Latest IT Technology Research & Study Team, “The role of insurance companies
in the changing world of Society 5.0” was made and IT Study Groups (1st to 6th) conducted activity
reports.
(B4) Holding of regular meetings
We held a total of 6 regular meetings in FY2019. Details are as follows.
1st
Digital Insurance: transforming
Ms. Sara Goldberg
Jun.13, 2019
sales & underwriting(Gen Re Life / Health)[Others]
Success examples of Data Science
Mr. Richard Xu
2nd(VP and Actuary, RGA)
Jul.17, 2019
[IT]
Public Pension － Financial
Mr. Koichiro Yamauchi
3rd ※Verification in 2019 －(Director, Pension Bureau,
Sep. 30, 2019
Ministry of Health, Labor and[Pension and Retirement
Welfare)Benefit System]th
Mr. Andreas Armuss
Practical use of AI in the medical
4(Munich Re Singapore Branch)
field － Impact on the life
Oct. 23, 2019
insurance industry[Medicine]※Joint seminar with Professionalism Training
5th(Continuing Professional Development) (Reference to (B10) ①)
Dec. 16, 2019
[Professionalism]

46thFeb. 7, 2020
[Others]

Theory and practice of foreign
bond investment

Dr. Kenta Inoue (Economics)(Senior Bond Strategist/SeniorMarket Economist, Mitsubishi
UFJ Morgan Stanley Securities
Co., Ltd.)rd※The 3 was co-sponsored by the Japanese Society of Certified Pension Actuaries (JSCPA).
※The 7th (Mar.4) and the 8th (Mar.30) were supposed to be held but cancelled considering thesituation on the spread of infectious diseases (COVID-19).
(B5) Holding of Kansai Committee regular meetings
We held a total of 3 Kansai Committee regular meetings in FY2019. Details are as follows.
1st
Sep.13, 2019
[Others]

AI and law

Mr. George Shishido(Professor, The university ofTokyo Graduate Schools for
Law and Politics)
Mr. Kaoru Fueda(Professor, Shiga University
Faculty of Data Science)
Mr. Yoichi Taniuchi(Dai-Ichi Life Insurance)

Introduction to data science for
2nd
actuaries
Dec. 23, 2019
[Others]
The basic of pension tax system for
3rd
actuaries
Jan. 31, 2020
[Pension and Tax System]※The 4th (Mar.13) was supposed to be held but cancelled considering the situation on the spread of
infectious diseases (COVID-19).
(B6) Holding of moonlight seminars
Moonlight seminars under the following 4 themes were held from November 2019 to March 2020.
IFRS 17 - Trends and Issues

Mr. Kazuyuki Doi
Mr. Tomonori Asada(Willis Towers Watson)
Introduction to Data Visualization for Actuaries Mr. Kosuke Iwasaki (Milliman)
Introduction to Generalized Linear Models
Mr. Kazuaki Naito
Practice of Data Science
Examination and Education Planning Committee,- Focusing on machine learning Seminar Division※Other seminars on/after Feb.27 were cancelled considering the situation on the spread of
infectious diseases (COVID-19).
(B7) Holding of Kansai Committee seminars
Kansai Committee seminars were held on February 12, 2020 with following themes.
 A study on CAT Bond premium calculation
 Construction of Smart beta using Portfolio Theory and performance
analysis in Japanese stock market
 Comparison and reproduction of the impact of genetic testing
information on life insurance in Canada and the United States
 Estimating risk factors affecting certification of needs for support,
and long-term care and the impact of risk factors on incidence oflong-term care
 Dynamic macro analysis on the introduction of medical insurance
using the generational duplication model(Master's thesis for graduate school)
5

Graduate School of Science,
Kyoto University,
Insurance Mathematics
Seminar students

(B8) Enhancement of e-learning
E-learning contents under the following were released.

IFRS17 Reinsurance Contracts held
How to clear intellectual property rights that should be noted when writing documents*Video streaming2017 ERM WebinarReport of 2018 Annual Meeting:– Actuaries and their selection of the models on machine learning (Accurate GLM)
– Involvement of pension actuaries on personnel system design
 Report of 2017 Open Discussion Forum Report of 2018 Open Discussion Forum:– Risk Management– Product and Asian Insurance Market– Financial reporting IAA Risk Book
– Chapter 12 - Capital – A Regulatory Management Tool
– Chapter 17 - Risk and Uncertainty(B9) Utilization of “actuview”
The service of "actuview", which is an international platform for online distribution of videos ofinternational conferences related to actuaries, has begun to be used as a new educational tool for IAJ
members.
(B10) Implementation of professionalism training① On December 16, 2019, professionalism training (Continuing Professional Development)
covering the following training was offered.
 Actuaries and their Professionalism Professionalism education in Medical

Mr. Ikuo Katayose (Resona Bank)Mr. Yasushi Miyata (Professor,
Faculty of medicine, Aichi Medical
University)② On February 26, 2020, professionalism training covering the following training was offered.
The completion of this training is required to be approved as a Fellow.
 About Professionalism
 IAA Syllabus and Professionalism
 Actuaries and Code of Conduct Professionalism in Life Insurance Professionalism in Non-life Insurance Professionalism in Pension

Mr. Ikuo Katayose (Resona Bank)Mr. Tomio Murata (Taiju Life Insurance)
Mr. Shinichi Nara (Meiji Yasuda Life
Insurance)
Mr. Hitoshi Watanabe (Nippon Life
Insurance)
Mr. Hiromi Kaneko (Sompo Japan
Nipponkoa Insurance)
Mr.Akihiro Hotta (Tohmatsu LLC)

※Considering the situation on the spread of infectious diseases (COVID-19), the participants
were limited to "associate members who passed all the subjects in the 2018 qualification
examination or 2019 qualification examination" and held on a reduced scale.
③ On February 6, 2020, training for appointed actuaries of small amount & short-term insurance
was offered by FSA and IAJ at the Small Amount & Short-Term Insurance Association ofJapan (SSI). IAJ dispatched Mr. Hiromi Kaneko (Director / Professionalism Education
Division in IAJ) as a lecturer of the training as a part of professionalism education.

6

(B11) Implementation of CERA training
On November 1 and 2, 2019, a 2-day group workshop was held for examinees for CERA
examination. The workshop contained lectures on ERM, such as the specific situation in Japan andthe case studies. The completion of this training is required to be approved as CERA qualificationand 21 participants completed the training.
(B12) Implementation of Research meeting
On October 26, 2019, the 1st research meeting in FY 2019 was held in cooperation with Waseda
University (Graduate School of Accounting / Research Institute of Business Administration) and
JARIP. The purpose of the research meeting was IAJ members, researchers, and graduate students
to discuss and dig deeper into the papers of unpublished research in line with the theme, also as
being a place where all the participants were expected to discover new research themes bydiscussing presenter's advanced research.
※The 2nd meeting (Mar.21) was supposed to be held but cancelled considering the situation on the
spread of infectious diseases (COVID-19).

[C. Related to investigation and research activities](C1) Holding of Standard Mortality Advisory Committee meeting
At the 25th Standard Mortality Advisory Committee meeting held on October 30, 2019, it wasapproved to continue to use in the year 2020 the “Life Insurance Standard Life Table 2018 (fordeath)”, “Third Sector Standard Life Table 2018”and “Life Insurance Standard Life Table 2007 (forannuity)”.
(C2) Improvement of practice standards① With regard to ”Standards for Actuarial Practice Concerning Retirement Benefits Accounting”
and ”Guidance for Actuarial Practice Concerning Retirement Benefits Accounting”, therevisions were made in May 2019 to reflect the IAS19’s revision.
② With regard to “Actuarial Standard of Practice in relation to IAS 19”, the revision was made in
May 2019 to reflect the IAA's revision of ISAP3.
③ With regard to “Guidance for Actuarial Practice Concerning Retirement Benefits Accounting”,
a revised draft was published not to refer to the "Practical Standards for Welfare Pension Funds",
based on the handling of that by the Japanese Society of Certified Pension Actuaries (JSCPA).
(C3) Review of actuarial science for Life Insurance Product
In March, 2020, Life Insurance Product Special Review WG members cooperated with the Financial
Services Agency was supposed to hold an exchange of opinions about actuarial science for life
insurance products, but it was cancelled considering the situation on the spread of infectious diseases(COVID-19).
(C4) Response to international accounting standards and international insurance regulation
The International Accounting Standards Board (IASB) and the International Association of
Insurance Supervisors (IAIS) have been energetically reviewing international accounting standards
and international insurance regulation. The International Actuarial Association (IAA) is carrying out
contracted research and other activities as an actuarial professional group. The IAJ is actively
participating in the activities of IAA committees.
(C5) Dispatch of an observer to “Members of The Study Group on the Economic Value-based Solvency
Framework”
7Upon request of the Financial Services Agency, we dispatched Mr. Jun Miyamoto (Dai-Ichi Life
Insurance) as an observer to the "Members of The Study Group on the Economic Value-based
Solvency Framework". At the meeting, a presentation by the IAJ was given on ensuring thereliability of economic value-based insurance liabilities.
(C6) Work for the revision of IAA educational syllabus
Corresponding to the amendment of IAA educational Syllabus and its application in 2021, IAJ has
been considering the future qualification examination and education systems in Japan by Planning
Committee, Examination and Education Planning Committee and the relative committees,
respectively.
(C7) Research on data science
In September 2019, in order to make data science easier for members to use, the “Data Science
Related Basic Research WG'' was established with the aim of researching the basic data sciencerelated matters and widely disseminating the results to members.
(C8) Review of the way how professionals should respond to the demands of society
In September 2019, with regard to “Code of Conduct” and “Practical Standard” which composes
system of actuarial profession, “Professionalism Research WG” was established to conduct surveys
and studies based on today's perspective, with the aim of reporting the review result and suggestions
for improvement to IAJ Planning Committee.
(C9) Activities of Committees
Each committee, division, study group, working group and project team carried out investigations,research and other activities based on the purpose and mission set at the beginning of the fiscal year.
The status of their activities was posted on IAJ web sites. The activities that were put together into
investigation and research results were published on the IAJ’s member-only web page and/or in
supplementary volumes of bulletins, etc.

[D. Expression of Opinions](D1) Voting at IAA Council (including electronic voting)① In April 2019, voted for the approval of revision of Strategic Objectives/ changes of the Termsof Reference (TOR) of the Membership Committee.
② In May 2019, voted for the approval of all the topics at the IAA council meeting in Washington.
③ In August 2019, voted for the approval of new IAA Associate membership application(Actuarial Association of Mozambique / Association Tunisienne des Actuaires).
④ In November 2019, voted for the approval of all the topics at the IAA council meeting in Tokyo.
⑤ In March 2020, voted for the approval of all the topics, those were the revision of the rules(rules, internal rules, and Nominating Committee’s protocol), the venue of 2Q2021 IAA
Meeting, and rules for holding the 32nd ICA2022.
(D2) In April 2019, the IAJ submitted its opinions to IAA on the exposure draft of IAA/IAN100 afterstudies by the relative committees.
(D3) In December 2019, the IAJ submitted its opinions in favor of IAA Climate Risk Task ForceStatement of Intent (SOI) after studies by Insurance Regulation Division and the relative
committees.

8

(D4) In December 2019, the IAJ submitted its opinions in favor of the internal rule revision about the
selection of Chairman of Nominating Committee (NC).

[E. Related to International Activities](E1) IAA activities
The IAJ send committee members to IAA and actively participates in the activities of IAA
committees. Especially, Mr. Tomio Murata is in Executive Committee, Mr. Toshihiro Kawano isin Actuarial Standards Committee, Mr.Yoshio Nakamura is in Insurance Accounting TF as a Vicechair and Mr. Ryutaro Yamada is in General Insurance Committee as a Vice-chair.
Also, Mr. Masaaki Yoshimura was IAA Immediate-past President in 2019.
(E2) IAA Council and Committee Meetings in Tokyo
IAA Council and Committee Meetings in Tokyo, which was invited to commemorate our 120th
anniversary, was held from November 18 to 22, 2019. The following related events were plannedand held along with the plenary session.
① On November 17, a joint seminar, "Longevity Inside and Outside Japan”, whose theme is aJapan unique case of longevity, was co-hosted by the IAA's Population Issues Working Group(PIWG), Mortality Working Group (MWG) and IAJ. 3 presentations were planned and heldby the following speakers, and this seminar gathered 97 participants including foreign actuaries
who participated in IAA Meetings.
・Social Security in Japan- Current Status and Issues from a Holistic Perspective
Mr. Kazuhito Ihara (Director-General for Policy Planning and Coordination,
Ministry of Health, Labour and Welfare)・Efforts to Maintain the Sustainability and Adequacy of Social Security Pensions
Mr. Junichi Sakamoto (Representative of JS Actuary)・Insurance Industry Efforts on Longevity Issues – Arrival of 100-year lifespanMr. Taisuke Nishimura (Dai-Ichi Life Holdings)
Mr. Takashi Yamaura (Sompo Japan Nipponkoa Insurance Inc.)② On November 21, 2019, the presentations were planned and held at “Member Forum” by thefollowing speakers:
・Japanese Longevity from Population Projection Perspective: Background, Prospects andImpacts
Mr.Futoshi Ishii (Professor, Keio University)
・What A 100-year Life Means for Japan’s youth
Mr.Nobusuke Tamaki (Professor, Junior College Division, Otsuma Women’s University)③

On November 20, 2019, the IAJ hosted (co-sponsored by JSCPA) an official dinner at
Meijikinenkan and about 300 IAA Meetings participants and the related people joined thedinner.

9

(E3) Implementation of 47th Actuarial Seminar of East Asia (ASEA)
From September 10 to 13, 2019, the IAJ held a 4-day seminar on the status of Japan’s various
systems to which actuaries are related, with 32 participants from 10 different areas mainly in East
Asia.
(E4) Dispatch of members to international conferences, etc.
The IAJ sent its members to the following international conferences, etc.
①

From April 2 to 5, 2019
Mr. Nobuhiro Shimizu

PBSS Colloquium (In Cape Town, South Africa)②

From May 14 to 19, 2019
IAA Meetings(In Washington, USA)Mr. Hiroshi Shoji, Mr. Tomio Murata, Mr. Mitsunori Ide, Mr. Masaaki Yoshimura,
Mr. Nobuhiro Shimizu, Mr. Masaaki Shigehara, Mr. Yoshio Nakamura, Mr. Takashi Yamamoto,
Mr. Hiroshi Yamazaki, Mr. Ryutaro Yamada, Mr. Yosuke Fujisawa, Mr. Kenji Sekine,
Mr. Minoru Ouchi③

From May 21 to 24, 2019
AFIR/ERM Colloquium
Mr. Miwaka Yamashita, Mr. Taiga Yokoyama④

From July 28 to 31, 2019
Mr. Yosuke Fujisawa, Mr. Kirihito Yajima

APRIA

⑤

From October 21 to 24, 2019
Mr. Minoru Ouchi

AAC⑥

From February 24 to 25, 2020
IAA Strategic Planning Committee (In Frankfurt, Germany)
Mr. Masaaki Yoshimura *as an observer(In Firenze, Italy)(In Korea)(In Singapore)(E5) Implementation of training (lecture) to Financial Regulatory Authority of Myanmar
On December 9, 2019, upon request of JICA to give lectures to Financial Regulatory Authorityof Myanmar as part of the training program about Japanese insurance, the IAJ gave them lectureson the organizational structure and activities of the IAJ.
[F. Advisory Committee](F1) The 31st Advisory Committee meeting in paper * was held on February 27, 2020, where summaryof business activities in 2019 and business plan in 2020 (draft) were discussed.
※Originally the meeting in person was supposed to be held but changed to in paper considering
the situation on the spread of infectious diseases (COVID-19).

[G. Academic Activities](G1) Upon request of Kyoto University to send lecturers for insurance mathematics and pension
mathematics lectures, Mr. Jun Asano (Sumitomo Life Insurance), Mr. Hiroyuki Saito (Sumitomo
Life Insurance), Mr. Tsuyoshi Suzuki (Sumitomo Life Insurance), Mr. Ikuo Katayose (Resona
Bank), Mr. Yuya Tokuda (Daido Life Insurance), Mr. Takeshi Toyodome (Nippon Life Insurance),
Mr. Hiroyuki Tsunekawa (Nippon Life Insurance) and Mr. Yoshihiro Minami (Nippon Life
Insurance) were sent to the University.

10(G2) Upon request of Osaka University to send lecturers for insurance mathematics lectures,
Mr. Akihiko Sasada (Sumitomo Life Insurance), Mr. Masaki Takemura (Daido Life Insurance) andMr. Hiroyuki Tsunekawa (Nippon Life Insurance) were sent to the University.
(G3) Upon request of Kobe University to send lecturers for insurance mathematics lectures, Mr. Koji
Matsumoto (Sumitomo Life Insurance) was sent to the University.
(G4) Upon request of Waseda University to send lecturers for insurance mathematics and pension
mathematics lectures, Mr. Yoshiki Adachi (Meiji Yasuda Life Insurance), Mr. Kouichi Tanaka(Meiji Yasuda Life Insurance), Mr. Junichi Hamada (Meiji Yasuda Life Insurance) , Mr. Akira Arai
(Meiji Yasuda Life Insurance) , Mr. Kentaro Sekiguchi (Aon PLC) and Mr. Yosuke Fujisawa (Swiss
Re) were sent to the University.
(G5) In December 2019, at the financial symposium organized by Risk Analysis Research Center of
the Institute of Statistical Mathematics, three members from IAJ presented papers at the sessionof “Actuarial modeling in the super aging society”.
(G6) In November 2019, at the department of mathematics of Kyoto University, consecutive lectures
were held and the IAJ held them in common by dispatching lecturers.

[H. Related to Presentation of Awards](H1) Awards presented to a person with outstanding results in the 2018 qualification examination① Presentation of President Award
The IAJ presented the President Award to Mr. Kazunori Odani (Nippon Life Insurance), Mr.
Masashi Tomita (Meiji Yasuda Life Insurance), Mr. Yusuke Nakahira (Nippon Life Insurance).
② Presentation of award for outstanding results for each subject
The IAJ presented an award to 1 person for Mathematics, 1 person for Life insurance
mathematics, 1 person for Non- life insurance mathematics, 1 person for Pension mathematics,
1 person for Accounting, economics, and investment theory, 1 person for Life insurance 2.
(H2) Presentation of awards for outstanding research paper① On November 22, 2019, an award was presented for the following paper at the Annual
Meeting:“Reserve Valuation for the Guaranteed Minimum Benefit in Variable Annuities under theAssumption for the Lapse Intensity to be a Step Function of the Account Value “
Mr. Masaya Tsukamoto (The Dai-Ichi Life Insurance)② On January 16, 2020, awards were presented for the following outstanding IT-related papers
at the IT Annual Meeting:“Consideration for utilizing Big Data in insurance industry”(IT Study Group Ⅲ)“Applicability of block chain technology to insurance business and insurance products”(IT Study Group Ⅵ)[I. PR and Publication Activities](I1) PR activities

11

① “Actuary Seminar” primarily for students was held on January 25, 2020 in Tokyo and in Osaka.
There were 48 participated in Tokyo and 24 participated in Osaka.
② On July 2, 2019, upon request of board of education in Haebaru, Okinawa, the IAJ gave alecture on introduction of actuaries’ profession to about 40 2nd grade students of Nansei juniorhigh school in the city at their career learning class.
③ The IAJ cooperated with shooting a short video which introduces actuaries’ profession on thejob information web site (Occupational Information Network (O-NET)) opened by the
Ministry of Health, Labor and Welfare on March 19, 2020.
(I2) Enhancement of information provision function
The following revisions were made in our HP:① ” Round-table discussion by actuaries” was held and posted on the website. The page wasrenewed from the ex “Round-table discussion by qualified actuaries” by extending theparticipants range from qualified actuaries to examinee.
② The 120th anniversary Annual Meeting exclusive page was built and posted, earlier than theusual schedule.
③ The “Voice of successful applicants” page was renewed by replacing the members introduced.
(I3) Cooperative activities of related associations / institutes① The IAJ sponsored the public interest purpose project; “Suugaku Koshien 2019 (The 12th
National Math Championship)” organized by the mathematics Certification Institute of Japan(SUKEN).
② The IAJ has started to sponsor the public interest purpose project such as "64th IMO2023
Japan Games" organized by the Mathematics Olympic Foundation of Japan (JMO).
(I4) Publication of bulletins, etc.
The following bulletins and other publications were published.
① Bulletin
No.72
 On the history of classical actuarial mathematics (2) Improving Defined Contribution Pension Plans in Japan A Study on Optional Properties of Defined Benefit Pension
 A study on investment component in IFRS 17 insurance contracts- Numerical example in general model and impact on the practical Product & Price Strategy of life insurance company using “Random
Utility Theory”
 A study on the mortality model using stochastic differential equation
 Mortality models at older ages and their comparison and evaluation
 An estimation of the value of options and guarantees on insurance
liability
 On a estimating method of the loss ratio variance Reserve Valuation for the Guaranteed Minimum Benefit in Variable
Annuities under the Assumption for the Lapse Intensity to be a Step
Function of the Account Value Markov chain models of bonus-malus systems: stationary
distributions and rates of convergence② Supplementary volumes of bulletin
No.285<The 8th Actuary Overseas Training> Life insurance & pension groups report General insurance group report
 SOA presentation documents
 Pension group presentation documents
12No.286

No.287③ Actuary Journal
No.107

No.108

No.109

 CAS presentation documents
 Questionnaire after training<The 59th IT Annual Meeting Report> (IT Committee)
 Special lecture ” How Information and Communication
Technology will Change in Five Years～What information andcommunication technology will affect the insurance industry overthe next five years?～ “(By Mr. Makoto Shirota, General Manager, Senior Researcher,
Digital Platform Development Department, Nomura ResearchInstitute, Ltd.) Research on financial and insurance services utilizing smart devices
and IoT devices
 Applying Agile Development in Insurance Industry
 Research on optimal UI/UX in the systems in insurance companies
 How SoE & SoR should function in the insurance industry
 Measures and the challenges to cybersecurity in the supply chain of
insurance industry
 Utilization of new payment method in insurance industry< A PUBLIC POLICY PRACTICE NOTE – Model Risk
Management>
Developed by the Model Risk Management Work Group of the
ERM/ORSA Committee of the American Academy of Actuaries(Translated by International Relations Committee)

 The 8th regular meeting report in 2018
 The 10th regular meeting report in 2018
 ASTIN Bulletin Abstracts (Translated by ASTIN related Study
Group)
 Report of paper research activities (AFIR related study group) 2018 Report on Activities of Kansai Committee’s Sub-committees
 2018 Report on Moonlight Seminar Initiatives on data science (Preliminary Report)
 2018 CERA qualified person(s) 2018 accomplished members for CPD objectives
 2018 applicants who passed the qualified examination
 Actuaries’ relay talks (Series Part.8)
 <Notice of the 120th Anniversary Annual Meeting > (120th
Anniversary Project Special Committee/ Annual Meeting
Committee /International Relations Committee / IAJ secretariat)
 Notice from the secretariat- “actuview”
 The 11th regular meeting report in 2018
 The 1st regular meeting report in 2019 Introduction of actuaries’ profession (PR Committee)
 2018 Continuing Professional Development / CPD units
achievement report Introduction of committees’ activities (PR Committee)
 Book review – Leases For Lives (by David R.Bellhouse) (Mr.
Koichi Tanaka / Meiji Yasuda Life Insurance)
 Actuaries’ relay talks (Series Part.9)
 The 2nd regular meeting report in 2019 The 3rd regular meeting report in 2019 The 47th ASEA Seminar report (ASEA Division, IAJ Secretariat)
 Report of “Suugaku Koshien 2019(The National MathChampionship)” (PR Committee)

13No.110Special Edition<Risks andInsurance
No.16 >④

 Introduction of committees’ activities (International Relations
Committee/ Investment Theory Committee)
 Actuaries’ relay talks (Series Part.10)
 <The 120th Anniversary Annual Meeting Implementation Report>(120th Anniversary Project Special Committee/ Annual Meeting
Committee /International Relations Committee / IAJ secretariat)
 Data Science Basic Survey WG – newly established- Aiming to spread data science technology for actuaries  Research report on Error Evaluation in Predictive Modeling(Data Science Basic Survey WG)
 The 4th regular meeting report in 2019
 CERA training lecture report 2019 Actuary Seminar report Actuaries’ relay talks (Series Part.11)<Lectures > Issues related to the introduction of economic value-based capital
regulation –exchange opinions among industry-governmentacademia<Paper> Joint estimation of cause-specific future mortality using tensor
analysis

2019 Qualification Examination Question Collection(I5) Revision of PR brochure
IAJ PR brochure was renewed with new illustration by incorporated the latest information such as
on data science, the decision to hold ICA2026 by IAJ.

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