The new president of the InstituteofActuariesofAustralia, Fred Rowley, has called for the actuarial profession to become globally unified.

During his presidential address to institute members this week, Rowley encouraged rapid globalisation of actuarial techniques, standards and qualifications.

“The actuarial profession is globally quite small compared to accounting – there are about 40,000 actuaries in the whole world,” he said.

“We could gain a lot if we used common standards and improved communication.”

Rowley went on to highlight the scope for actuaries to contribute to the management of climate change from an economic perspective.

“One or two actuaries have been sporadically involved in climate change over the years, but in recent times the argument about climate change has shifted from science to economics, so that makes it a central issue for actuaries,” he explained.

“We need to assess where actuaries can help.”