This English translation of “2021 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「2021 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。

2021Annual Report
From April 1, 2021 to March 31, 2022

1. Matters concerning Annual General Meeting of Members
The General Meeting of Members was held on June 15, 2021 at the main conference room of the Instituteof Actuaries of Japan, and“Report on a summary of business activities in 2020”
was presented, and the following two proposals were put before the meeting and approved as
proposed:
Item 1: 2020 Approval of a Balance Sheet and Net Assets Variation Statement as well as
Inventory of Properties
Item 2: Election of the Directors and Auditors<Actions for preventing COVID-19>
From the perspective of curbing the spread of COVID-19, members were restrained from visiting
the general meeting venue, while the Bill was posted on the members-only page of our website andproxy voting by means of an electromagnetic method was recommended. By encouraging the use of
proxy voting, we have implemented operations that allow members to exercise their voting rights evenin the situation of COVID-19 pandemic. (The number of voting rights exercisers was 3,764, of which
3,466 were by means of an electromagnetic method.)

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, 302 members were newly admitted, and 177 members
withdrew from the IAJ. The number of members as of the end of March 2022 is as shown in the tablebelow.
Fellows
Associates
Students
Semi-total
Corporate members
Total

2,000
1,405
2,092
5,497
108
5,605

3. Business report[A. Related to examination]1

persons
persons
persons
persons
corporations
persons/corporations

(A1) Implementation of qualification examination
A 3-day qualification examination was held from December 13 to 15, 2021 in Tokyo (at TOC
Gotanda) and Osaka (at Temma Training Center) and the successful examinees were announced on
February 15, 2022.
The total number of examination subjects for the primary examination was 3,365 subjects and thetotal number of subjects passed was 873 subjects. There were 206 examinees who passed all basic
subjects.
Mathematics

Life Insurance
Mathematics

Non-life
Insurance
Mathematics

PensionMathematics

Accounting,Economics andInvestment
TheoryNumber of examinees

928

568

658

577

634

Number of successful examinees

115

162

209

275

112

Passing Rates

12.4％

28.5％

31.8％

47.7％

17.7％

Primary examination（Basic subjects）

The total number of examination subjects for the secondary examination was 1,009 subjects and thetotal number of subjects passed was 174 subjects. There were 83 examinees who passed all thesubjects.
Secondary examination（Advanced subject）

Life Insurance
１

Life Insurance２

Number of examinees

335

303

134

107

60

70

Number of successful
examinees

59

47

22

26

6

14

17.6％

15.5％

16.4％

24.3％

10.0％

20.0％

Passing Rates

Non-life
Insurance１

Non-life
Insurance２

Pension１

Pension２<Actions for preventing COVID-19>
From the perspective of curbing the spread of COVID-19, we implemented temperature
measurement of examinees at the examination venue, disinfection of desks and chairs, andsecuring of seat spacing in the examination rooms, and also requested examinees to takepreventative measures.
In addition, from FY2022 the qualification examination method is going to shift from the paper
testing method to CBT (Computer Based Testing), and the operation outline (planned) wasannounced on the IAJ public website.
(A2) Implementation of CERA examination
The CERA examination in Japan is based on the SP9 (Enterprise Risk Management, Specialist
Principles) of Institute and Faculty of Actuaries (IFoA). The IAJ implemented CERA examination
on September 28, 2021, utilizing IFoA online platform in line with the IFoA online examination of
SP9 in September 2021. The successful examinees were announced on January 17, 2022. There
were 58 examinees, and 14 examinees passed the examination (Passing Rates 24.1 %). The numberof CERA-qualified members at the end of March 2022 was 105.

[B. Related to education, training, and research presentation](B1) Implementation of actuary courses
The actuary courses were offered for a period from May 18, 2021 to November 1, 2021. Details are
as follows.

2

Subject
Basic courses（6 Groups）

・Probability, Statistics, Probability Exercise, Statistics
Exercise (43 people)
・Modeling (47 people)
・Life Insurance Mathematics, Life table (76 people)
・Non-life Insurance Mathematics (93 people)
・Pension Mathematics (94 people)
・Accounting, Economics, Investment Theory (65 people)
・Risk Selection Theory
Intermediate・Social Insurance Theory
courses
・Population Theory
・Insurance Supervision Law（7 Subjects） ・Pension Practice Regulations
・Risk Management Theory
・Finance Mathematics* From FY2021, it is possible to take basic courses by subject group.

Number of
students
As shown
on the left

35 people

The additional actuary exercise courses were offered for a period from September 22, 2021 toNovember 26, 2021. Details are as follows.
Subject (Number of students)
Additional actuary

・Life Insurance Mathematics Exercise（30 people）

exercise courses

・Non-life Insurance Mathematics Exercise（46 people）(4 Subjects)

・Pension Mathematics Exercise（45 people）
・Modeling Exercise（17 people）

A 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 19, 2021 to September 13, 2021. Details
are as follows:
ERM course(3 Subjects)

Subject・Finance Mathematics （*）
・Risk Management Theory （*）
・ERM(*) Subjects common to Intermediate courses

Number of students
27 people

A 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 ofDecember 18, 2021 to March 19, 2022. On-demand lecture, in which trainees can view the videos
during the period (from February 7, 2022 to April 30, 2022), was newly provided. Details are as
follows:
Number ofContent
students
Data Science <First part><Second part>22 people
course・Introduction of R and simple ・Basic procedure for Predictive
Regression Model
Modeling(First/Second
・Linear Regression Model
・Exploratory Data Analysis
parts)
・Linear Discriminant Analysis(EDA)
・Decision Tree
・Example model for Predictive
・Generalized Linear Model 1
Modeling
・Generalized Linear Model 2 ・Model selection and Modelevaluation method
・Practice in Regression Model(GW)
3

・Practice in Classification
Model (GW)
On-demand
lecture・ Basics of survival analysis
・ Principal component analysis
・ Factor analysis<Actions for preventing COVID-19>
From the perspective of curbing the spread of COVID-19, all courses were implemented online.
From this year, recorded videos of lectures were distributed for about a week after the lectures.
(B2) Holding of Annual Meeting
From the perspective of curbing the spread of COVID-19, the annual meeting, which was held faceto-face for two days every year, was consolidated into one day (Friday, November 5, 2021) and held
online mainly on live distribution following last year.
<AM> ・Common session (Address from the president, Congratulatory addresses, Common
presentations (Toward ICA2026 Tokyo - Andrew Boal (Chair of the ICA2023 Organizing
Committee))・Presentation of papers / Presentation / Panel discussion / Open Discussion Forum<PM> ・Special Lecture - Corporate Value Transformation Kunio Ito (Director, CFO Research Institutes & Centers, Hitotsubashi University)
・Presentation of papers / Presentation / Panel discussion / Open Discussion Forum
15 papers were presented, 7 presentations and 6 panel discussions were held. The streamed videos
were posted on the e-learning system after the annual meeting and can be viewed again on- demand.
(B3) Holding of IT Annual Meeting
From the perspective of curbing the spread of COVID-19, the 61st IT Annual Meeting was held
online on February 18, 2022, by posting the documents (latest IT technology research, introductionof new technologies by the technology group) on the dedicated website for IT Annual Meeting anddistributing videos (activity reports by the IT research groups (1st to 5th groups)). The videos wereavailable for a certain period on e-learning and YouTube (limited distribution).
(B4) Holding of regular meetings
We held the following regular meetings in FY2021. Details are as follows.
1st(Part 1) Medical knowledge and future Tsukasa Nagaoka MD, Ph.DMay 26, 2021
trend for overcoming COVID-19(Chief Medical Officer, RGA[Others]
Japan)(Part 2) The Impact of COVID19 on
Daniel Lyons(Vice President, Business
Global Life Insurance Products- What changes will take hold in theInitiatives Leader, RGA
post-Corona era?
International Corporation)
Video rebroadcast: Jun. 9
2nd
Recent developments in the European
Christine Dahlke
Jun. 18, 2021
private pension market and practices in (Senior Actuary, Life
[Life Insurance]
analyzing mortality data related to
Department 6, Hannover Rück
longevity risk
SE)
Dr.Torsten Franz

4

(Assistant Actuary, Life &Health Data Analytics,
Hannover Rück SE)
Takuro Sorihashi(Senior Manager, Hannover RE)
3
Aug.5, 2021
[Others]rd4
Sep. 7, 2021
[Others]th

5th
Oct. 1, 2021
[Others]
6th
Oct. 28, 2021
[Life Insurance]

7th

Nov. 11, 2021
[Life Insurance]

8th
Nov. 25, 2021
[Pension, Retirement
Benefit]9th※
Dec. 7, 2021
[Professionalism]
10th

Mar.23, 2022
[Non-life Insurance]

Video rebroadcast: Jul.2
Theory and Practice of Fixed Income
Investing for the Post-Corona

Video rebroadcast: Sep. 2
The Science of Behavior:
The Moment when the Data is
Generated

Video rebroadcast: Sep. 21
How to write papers in English
Video rebroadcast: Oct. 15
Advances in cancer diagnosis andtreatment: What does it all mean for
Underwriting and Claims?
Video rebroadcast: None
(Part 1)
Climate change and life insurance(Part 2)
Assessing impact of Physical Climate
Change risk on your reinsurance
purchase
Video rebroadcast: Nov.24
EBPM (Evidence Based Policy
Making) and Real-Life Policy Making(Co-organized with the JSCPA)

Kenta Inoue(Senior Bond Strategist/SeniorMarket Economist, Mitsubishi
UFJ Morgan Stanley Securities
Co., Ltd.)Dr. Satomi Sato
(Junior associate professor,
Graduate School of Public
Health, St.Luke’s International
University)
Tomomi Takeshima(Milliman)
Dr. Andreas Armuss(Chief Medical Officer Asia
Pacific, Middle East and Africa(Life and Health), Munich RE)(Part 1) Dr. Irene Merk
(Emerging Risks Ambassador,
SCOR SE)(Part 2) Junaid Seria(Head of Analytics &Governance, SCOR SE)

Norimasa Muto
Co-Development Executive
Officer, Health Insurance
Claims Review &Reimbursement services
Video rebroadcast (On-demand): Dec. 9 - 22
※Joint seminar with Professionalism Training(Continuing Professional Development) (Reference to (B9) ①)
Video rebroadcast: Dec.21
An Actuarial Perspective on Global
Developments in Insurtech
Video rebroadcast: Apr.6, 2022

5

Edward Plowman(Group Chief Actuary, SOMPO
Holdings)

<Actions for preventing COVID-19>
From the perspective of curbing the spread of COVID-19, all regular meetings were held online. In
addition, we rebroadcasted the recorded contents for members who had difficulty participating on
the day.
(B5) Holding of Kansai Committee regular meetings
From the perspective of curbing the spread of COVID-19, Kansai Committee regular meetings
were held online, and the contents were released on Mar.18 and Mar.25, 2022.
(Mar.18, 25, 2022)[Life Insurance, Pension,
Risk Management]

2021 Report on Activities of KansaiCommittee’s Sub-committees

Each sub-committee(B6) Holding of moonlight seminars
From the perspective of curbing the spread of COVID-19, Moonlight seminars were held online
under the following 4 themes from November 2021 to February 2022.
Let’s think ahead about IFRS 17 Financial
Kazuyuki Doi, Tomonori Asada, Masaoki Takeda
Statements.
(Willis Towers Watson)
Let’s do “Analysis of economic value-based
Atsushi Okawa
solvency ratio (ESR)”(Milliman)
Secret machine learning
Ryo Miyazaki(Tohmatsu LLC)
Thinking about the practical issues of non-life
Seminar Division, Examination and Education
insurance actuaries
Planning Committee(B7) Holding of Kansai Committee seminars
From the perspective of curbing the spread of COVID-19, Kansai Committee seminars were held
online on February 16, 2022, with the following themes.
 Considerations on the Vaccination policy on COVID-19 infection
Graduate School of Science, Future prediction of mortality rate using neural network
Kyoto University,
 Impact of Corona Crisis on Life Insurance CompaniesInsurance Mathematics
Considerations on Mortality Fluctuations and Balance
Seminar students
 Considerations of Usefulness on Multideath Fair Tontine Annuity
as a preparation for longevity risk
 A Study of Factors Affecting Demand for Automobile Insurance inJapan A Study on ESG Stock Investment - Environmental Factors as NonFinancial Information and Their Impact on Stock Prices(B8) Enhancement of e-learning
E-learning contents under the following were released.
2020 Regular Meeting:– IFRS17 Update adopted by the IASB in June 2020 (2nd) * Video distribution
Proposed Amendments to the Actuarial Code of Conduct and Establishment of the Actuarial
Standards of Conduct
2019 Regular Meeting:– Digital Insurance: transforming sales & underwriting (1st)– Success examples of Data Science (2nd)6– Public Pension － Financial Verification in 2019 － (3rd)– Practical use of AI in the medical field － Impact on the life insurance industry (4th)– Theory and practice of foreign bond investment (6th)2020 Regular Meeting:– Study on Error Evaluation in Predictive Modeling (4th) * Video distribution– Past achievements and future directions in considerations on reform at Planning
Meeting on a Social Security System Oriented to All Generations (5th) * Video
distribution(B9) Implementation of professionalism training① On December 7, 2021, professionalism training (Continuing Professional Development)
covering the following training was offered.
(Video rebroadcast: Dec.21, 2021)
 Organizational Bias and Choice of
Actions

Norihiro Mizumura(Professor, Saitama University Graduate
School of Humanity and Social Sciences)② On February 24, 2022, professionalism training covering the following training was offered.
The completion of this training is required to be approved as a Fellow.
 Actuaries and Professionalism
 Code of Professional Conduct of theInstitute of Actuaries of Japan
 Professionalism in Life Insurance Professionalism in Non-life Insurance Professionalism in Pension
 Case studies

Ikuo Katayose (Resona Bank)
Jun Miyamoto (The Dai-ichi Frontier Life
Insurance)
Hitoshi Watanabe (Nippon Life Insurance)
Hiromi Kaneko (Sompo Japan Insurance)
Akihiro Hotta (Tohmatsu LLC)
Akihito Sakakibara (Resona Bank)<Actions for preventing COVID-19>
From the perspective of curbing the spread of COVID-19, all trainings were held online.
(B10) Implementation of CERA training
On January 29, 2022, a group workshop was held for successful examinees for CERA examination.
The workshop contained lectures on ERM, such as the specific situation in Japan and the casestudies. The completion of this training is required to be approved as CERA qualification and 9
participants completed the training.
(B11) Implementation of Research meeting
The 2021 Research Meeting was held on December 4, 2021, under the auspices of the IAJ (cohosted with JARIP), with the aim of deepening discussions among members, researchers, graduate
students, and others on advanced research topics in line with the themes. The program wasdesigned to encourage members interested in presenting or writing papers for the upcoming ICA
2023 and 2026 to discover new research topics. The meeting was held online with the perspectiveof curbing the spread of COVID-19.
[C. Related to investigation and research activities](C1) Holding of Standard Mortality Advisory Committee meeting
At the 27th Standard Mortality Advisory Committee meeting held on Thursday, November 8, 2021,
it was approved to continue to use in the year 2022 the “Life Insurance Standard Life Table 20187

(for death)”, “Third Sector Standard Life Table 2018”and “Life Insurance Standard Life Table 2007
(for annuity)”.
(C2) Revision of the Code of Professional Conduct and establishment of the Standards of Professional
Conduct
In order to respond to the increasing complexity and diversity of the duties and roles of actuaries,
and to meet society's mandate as professions, the Code of Professional Conduct was reviewed froma contemporary perspective and revised on September 14, 2021. As part of the review, the Standardof Professional Conduct was also established on the same day as an aid to members in interpreting
the Code of Professional Conduct and as a general standard for performing various tasks and wasposted on the IAJ public website on September 15, 2021. Each will take effect on April 1, 2022.
(C3) Development of Standards of Practice① In light of the situation where rules for enacting new standards of practice or revising somestandards of practice have not been sufficiently developed, the "Rules on Procedures for
Enactment and Revision of Standards of Practice" were enacted on May 12, 2021, as
comprehensive rules for enactment and revision procedures covering all new and existing
standards of practice.
② With respect to 2.10.6.e and 3.2.2.j of ISAP1, the IAJ held an e-mail dialogue with the Actuarial
Standards Committee (ASC) of the IAA to clarify the interpretation of the relevant parts in theactuarial professions, which led to a better understanding, and a revised draft of the "Actuarial
Standards of Practice for IAS" was published in November 2021 and a request for comments
was issued. Since no comments were submitted, the draft was finalized and revised to reflect
these contents in December 2021.
(C4) Response to economic value-based solvency regulations and accounting standards, etc.
① In relation to the requirement to submit an insurance liability verification report in the FSA
Field Test Specifications from FY 2019, in order to examine the validity verification of
insurance liabilities, based on the awareness of various issues in ensuring the validity of thevaluation of the insurance liabilities provided by the FSA, the IAJ considered the "technicalstudy on calculation methodologies and models of insurance liability " and "sharing examplesof validation reports," and published the results of the study on the public website in June 2021.
② In March 2022, the IAJ published the "Guideline for the Verification Report of Insurance
Liabilities", and the "Background of the Guideline" which was the summary of the concepts in
preparing the Guideline on the public website. This was in response to the "Progress of Studies
on Economic Value-Based Solvency Regulations" released by the FSA in June 2021, which
presented the "Guideline and Templates for a Verification Report" as an example of what the
FSA and the IAJ, etc. were expected to work together to study.
(C5) Review of actuarial science for Life Insurance Product
In February and March 2022, Life Insurance Product Special Review WG members held a roundtable discussion in online format on the theme of "Sustainable Business Models (post-corona,changing customer attitudes to medical care and prevention)".
(C6) Response to international accounting standards and international insurance regulation
With respect to international accounting standards and international standards for insurance
supervision, the IAJ responded through active participation in the committee activities of theInternational Actuarial Association (IAA). The IAA, as an international actuarial professional
association, has partnership agreements with the IASB and the International Association of

8

Insurance Supervisors (IAIS) to provide advice on actuarial matters in connection with theirdeliberations.
(C7) Work for the revision of IAA educational syllabus
Taking into consideration that the revised IAA educational syllabus will take effect in 2021, theExamination and Education Planning Committee and its PTs are discussing how to deal with the
future examination and education system of the IAJ. In addition, the second trial training following
FY2020 was held and finalized on the assumption that a two-day training course in the three areasof "financial systems," "data and systems," and "actuarial risk management" will be offered as aqualification requirement for Fellow members starting in FY2022.
(C8) Efforts to exercise the functions of the Appointed Actuaries of the Small amount and Short-term
Insurance Companies① In June 2021, the "Appointed Actuaries of Small amount and Short-term Insurance Related
research PT" was established for the purpose of studying professional, technical, and practicalmatters and sharing the results of such studies so that the IAJ members can fully exercise theirfunctions in their activities as appointed actuaries for small amount and short-term insurancecompanies.
② In March 2022, a meeting was held by the IAJ for the exchange of opinions among theappointed actuaries of small amount and short-term insurance companies as a forum for aninterim report on the progress of studies conducted by the " Appointed Actuaries of Small
amount and Short-term Insurance Related research PT".
(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 the 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/orin supplementary volumes of bulletins, etc.

[D. Expression of Opinions](D1) Voting at IAA Council (including electronic voting)① In April 2021, voted for the approval of all the topics at the IAA virtual council meeting.
② In June 2021, voted for the approval of change in investment policy.
③ In September 2021, voted for the approval of new IAA Full membership application(Ecuadorian Actuarial Association), and the revised section rules.
④ In December 2021, voted for the approval of all the topics at the IAA virtual council meeting(Hybrid meeting of online and in-person in Amsterdam, Netherlands)⑤ In March 2022, voted for the approval of IAA electronic voting (Pandemic SOI, Future Actuary
SOI, appointment of committee chairpersons (Education Committee and Resource andEnvironment Virtual Forum) etc.).

[E. Related to International Activities](E1) IAA activities① The IAJ send committee members to IAA and actively participates in the activities of IAA
committees. Especially, Masaaki Yoshimura is in Strategic Planning Committee, Toshihiro
9Kawano is in Actuarial Standards Committee, Yosuke Fujisawa is in Enterprise and Financial
Risk Forum as a Vice-chair, and Ryutaro Yamada is in General Insurance Forum as a Vicechair.
② In anticipation of ICA2026, with the aim of increasing opportunities for fellow members toparticipate in the activities of IAA, observers were appointed to the IAA Forum* for a term
ending in FY2021.
（*Enterprise and Financial Risk, General Insurance, Pensions, Benefits and Social Security,
Social Security Subgroup (SSSG), Data Analytics, and Mortality)(E2) Cancellation of Actuarial Seminar of East Asia (ASEA) in 2021
From the perspective of curbing the spread of COVID-19, Actuarial Seminar of East Asia (ASEA)
in 2021 was cancelled.
(E3) Dispatch of members to international conferences, etc.
Due to the spread of COVID-19, the conferences in person have been canceled and were held
online as follows.
①

May 13, 2021
IAA Virtual Conference
Tomio Murata, Masaaki Yoshimura, Toshihiro Kawano, Masaaki Shigehara, Yoshio Nakamura,
Ryutaro Yamada, Yosuke Fujisawa, Minoru Ouchi②

From December 3 to 5, 2021③

Pilot Hybrid Council and Committee Meetings（Amsterdam, Netherlands）
Tomio Murata, Masaaki Yoshimura, Toshihiro Kawano, Masaaki Shigehara, Yoshio Nakamura,
Ryutaro Yamada, Yosuke Fujisawa, Minoru Ouchi(Participated on-line)
Asia-Pacific Ethics and Professionalism Seminar
March 1, 2022
(Organized by Actuaries Institute (Australia))
Minoru Ouchi[F. Advisory Committee](F1) The 33rd Advisory Committee meeting was held online on February 25, 2022 , where summary ofbusiness activities in 2021 and business plan in 2022 (draft) were discussed.

[G. Academic Activities](G1) Upon request of Kyoto University to send lecturers for insurance mathematics and pension
mathematics lectures, Jun Asano (Sumitomo Life Insurance), Hiroyuki Saito (Sumitomo Life
Insurance), Yoshio Nakamura (Sumitomo Life Insurance), Ikuo Katayose (Resona Bank), Yuya
Tokuda (Daido Life Insurance), Takeshi Toyodome (Nippon Life Insurance), Hiroyuki Tsunekawa(Nippon Life Insurance) and Yoshihiro Minami (Nippon Life Insurance) were sent to the
University.
(G2) Upon request of Osaka University to send lecturers for insurance mathematics lectures,
Akihiko Sasada (Sumitomo Life Insurance), Masaki Takemura (Daido Life Insurance) and Yuji
Yanagido (Nippon Life Insurance) were sent to the University.
(G3) Upon request of Kobe University to send lecturers for insurance mathematics lectures, Koji
Matsumoto (Sumitomo Life Insurance) was sent to the University.
10(G4) Upon request of Waseda University to send lecturers for the theory and practice of insurance
mathematics, pension mathematics, and general insurance, Yoshiki Adachi (Meiji Yasuda Life
Insurance), Kouichi Tanaka (Meiji Yasuda Life Insurance), Junichi Hamada (Meiji Yasuda Life
Insurance), Akira Arai (Meiji Yasuda Life Insurance) , Kentaro Sekiguchi (Aon Group Japan) andYosuke Fujisawa (Sumitomo Life Insurance), Kaoru Shiojima (Aioi Nissay Dowa Insurance), Akio
Hoshino (Nisshin Fire & Marine Insurance), Takuro Aoki (Sompo Japan Insurance), Shuhei Hotta(Mitsui Sumitomo Insurance) were sent to the University.
(G5) On May 15, 2021, a career support seminar was held at Waseda University Graduate School of
Accountancy for undergraduate and graduate students who are interested in actuaries, and Minoru
Ouchi (general secretary) was dispatched as a lecturer as part of academic activities.
(G6) On June 10, 2021, a career guidance was held online at Kansai University Faculty of Engineering
Science, Department of Mathematics to introduce actuaries to third-year undergraduate students,
and Akihiko Sasada (Kansai Committee) was dispatched as a lecturer as part of academic activities.

[H. Related to Presentation of Awards](H1) Awards presented to a person with outstanding results in the 2020 qualification examination① Presentation of President Award
The IAJ presented the President Award to Tomoki Horita (Prudential Life Insurance).
② Presentation of award for outstanding results for each subject
The IAJ presented an award to 1 person for Mathematics, 4 persons for Life insurance
mathematics, 1 person for Non- life insurance mathematics, 1 person for Pension mathematics,
2 persons for Accounting, economics, and investment theory, 1 person for Life insurance 1,
1 person for Life insurance 2, 1 person for Non-life Insurance 2 .
(H2) Presentation of awards for outstanding research paper① On November 5, 2021, an award was presented for the following paper at the Annual
Meeting:“The Policy for Policyholders' Dividend of Life Insurance Company based on the CramérLundberg Model with Incorporating the Perspective of Fairness”
Noriyuki Shimoyama (Fukoku Mutual Life Insurance)② On February 18, 2022, awards were presented for the following outstanding IT-related papers
at the IT Annual Meeting:“Use of data in insurance companies in light of the latest developments, such as theestablishment of information banks”(IT Study Group IV)“DX promotion in the insurance industry based on sustainability”(IT Study Group Ⅲ)[I. PR and Publication Activities](I1) PR activities① The IAJ's member website was renewed and transited to "Smart Core" (cloud-based packaged
system) in 2021.

11

② In August 2021, the "Voices of Successful Examinees" section of the IAJ's website wasrenewed (replacing the introductory members) for the 2021 edition.
③ “Actuary Seminar” primarily for students was held on January 22, 2022 in Tokyo and Osaka.
From the perspective of curbing the spread of COVID-19, the seminar was held online andthere were 59 participants.
④ The IAJ public website was renewed on March 25, 2022.
(I2) Cooperative activities of related associations / institutes① The IAJ sponsored the public interest purpose project such as "IMO2023 Japan Games"
organized by the Mathematics Olympic Foundation of Japan (JMO).
② The IAJ was supposed to sponsor the finals of “Suugaku Koshien 2021 (The National MathChampionship)”, a public interest purpose project organized by the mathematics
Certification Institute of Japan (SUKEN), but it was cancelled due to COVID-19.
(I3) Publication of bulletins, etc.
The following bulletins and other publications were published.
① Bulletin
No.74
 A study on profitability verification of life insurance products withexpected lapse rates
 An extension of the mortality models using state-space model A New Method for Modeling the Variability of Yield Curve under
the Real-World Measure based on Nelson-Siegel Model Setting of Relativities in a Tariff Considering Credibility of
Empirical Data
② Supplementary volumes of bulletin
No.289< IFRS 17 Insurance Contracts and Reinsurance > Part 1：Reinsurance Contracts in scope of IFRS17
 Part 2: IFRS 17 and Reinsurance Appendix - Calculation Sheet for Example 12C (Initial andSubsequent Measurement of Reinsurance Contracts) of the June
2020 Final Standard
No.290
Importance of Climate-Related Risk for Actuaries <September 2020>(Foreign Literature Study Group)
1 Introduction
2 Climate-Related Risks
3 Actuarial Modelling
4 Product Management
5 Risk and Capital Management
6 Investment Management
7 Disclosure
8 Implications for Actuaries
9 Next Steps
Appendix: Global Capital Market Initiatives Linked to Climate
Related Risks

12

No.291③ Actuary Journal
No.115

No.116

No.117

No.118Special Edition<Risks andInsurance
No.18><The 61st IT Annual Meeting Report> (IT Committee)
 Cyber Security Measures Based on "Zero Trust How to draw a distinction between IT department and User
Department, and the IT Human Resources Needed in the Future Standardized API infrastructure for insurance companies
 Provision of "new value and services" by financial and insurancecompanies utilizing new development methods and technologies
 IT Strategy for Insurance Companies in the New Normal

 ASTIN Bulletin Abstracts (Translated by ASTIN related Study
Group)
 2020 Report on Activities of AFIR related study group 2020 Report on Activities of Kansai Committee’s Sub-committees
 2020 Report on Moonlight Seminar Report on Mathematical Olympiad
 Book Review - Introduction to Medical Data Analysis with Python-Pandas + Pseudo-Receipt Edition- (Data Science Related Basic
Research WG)
 2020 CERA qualified person(s) 2020 accomplished members for CPD objectives
 Actuaries’ relay talks (Series Part.16)
 The 8th regular meeting report in 2020
<Paper> Rethinking the Petersburg Paradox -Problems with its
Mathematical Model 2020 Continuing Professional Development / CPD units
achievement report 2021 Name lists of committees, study groups, working groups,
project teams
 2020 applicants who passed the qualified examination
 Actuaries’ relay talks (Series Part.17)<Contribution> The Bulletin of the Institute of Actuaries of Japan :A Walk ThroughHistory<Research Paper> Reinsurance Lecture: The Essence of Reinsurance Pricing
Unraveled through Dialogue
 Actuaries’ relay talks (Series Part.18)
 Report Results of Questionnaire Survey for the IAJ Members:
support for writing papers initiatives
 2020 Actuary Seminar report (PR Committee Actuary seminar Subcommittee, Kansai Committee)
 Actuaries’ relay talks (Series Part.19)<Lecture> Follow-up on the status of consideration of economic value-based
solvency regulations<Paper> Predictive Modeling of Diabetes Severity Based on Health
Insurance Data - Toward a new set of underwriting rules④ 2021 Qualification Examination Question Collection⑤ 2020 Annual Meeting Report Collection (Held On-line)
2021 Annual Meeting Report Collection (Held On-line)

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(I4) Revision of PR brochure
In June 2021, the IAJ PR brochure was renewed including a breakdown of the number ofindividual members by business type and annual changes, and an updated list of corporate
members.

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