Institute-Faculty Merger Fails

The results of yesterdays vote for the proposed merger of Institute and Faculty of Actuaries have been announced.

Surprisingly, the proposed merger failed to get enough votes in favour from the Institute members but interestingly it did receive sufficient support from the Faculty members, although the general feeling had been that were it to fail, it would have been because of Scottish opposition to the merger. The Institute and Faculty will therefore retain their separate identities and for the purposes of international actuarial decisions, Great Britain retains two votes instead of one on all appropriate committees.

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