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Requirements & benefits of membership

Framework for professional standards

EURACS’ Constitution sets out two important criteria required of members, namely that any such firms:

  • “Must be owned by its principals or controlled by its management”; and
  • “Must not be tied to any financial institution and must receive a significant proportion of its income from consulting fees.”

In addition, our members should:

  • not be affiliated to any other similar actuarial network;
  • make every effort to attend bi-annual members’ meetings.

EURACS does not seek to impose a uniform set of professional standards that must apply to all members.  We recognise that standards vary in different countries but members are expected to comply with the following general rules for quality standards:

  1. Training
  2. Delivery
  3. Completion
  4. Audit

Benefits of membership

  • Being part of Europe’s oldest and largest network of major, independent actuarial consulting firms gives members a competitive edge.  The network offers services to clients through more than 1,000 qualified actuaries, consultants and other business professionals.  Members are confident of the quality of services provided by our international partners.
  • An important advantage of membership is the opportunity to exchange knowledge and expertise with our fellow members and discuss the challenges of the actuarial market in different countries.
  • Members are entitled to attend bi-annual meetings where we discuss technical subjects of mutual interest.  These topics may be pension or insurance orientated, or relate to cross-border pensions, international accounting standards, Solvency II and other EU directives, actuarial professional standards, etc.  Our meetings also include updates on the actuarial market in members’ home countries, and discussion of business development and opportunities for members to work together.  The meetings are hosted over a two-day period in members’ cities across Europe or in South Africa and include a full social programme.

How to become a member

  • Interested firms should contact EURACS Secretary General to express their interest, by emailing Catherine Wilding: euracs@btinternet.com
  • Suitable firms are then invited to attend a members‘ meeting to introduce themselves and find out more about the EURACS network and our existing members.  Guest firms are asked to arrange their own travel but there are no fees for attending this initial meeting.
  • To help firms decide if they wish to commit for the long-term, we offer 18 months free membership, which enables them to attend up to three meetings before paying any subscription (see below).
  • Firms wishing to apply for full membership should express that intention in an email from an authorised signatory, addressed to the Secretary General.
  • Existing EURACS members will vote on the application and respond within four weeks.  In accordance with the EURACS Constitution, a minimum of 80% agreement is required to ratify a new member.

Membership costs

All EURACS members pay a modest annual subscription, based on the total number of relevant principals and employees in the firm, to cover the costs of bi-annual meetings and running the network (subscription details available from the Secretary General, upon request).

In addition, members pay for their own travel and accommodation in relation to the network’s bi-annual meetings.