Thursday, 3 December 2009

Faisal Baluch wins prestigious actuarial prize

Wednesday, 2 December, 2009

Cass MSc Insurance and Risk Management student Faisal Baluch has been awarded a prestigious prize for his research by the major global reinsurer SCOR UK. Each year SCOR rewards the best academic papers in the field of actuarial science and risk through its Actuarial Awards.

Faisal received the prize for his MSc dissertation, which analysed and compared systemic risk in the banking and insurance sectors.

The SCOR awards aim to promote actuarial science, to develop and encourage research in this field and to contribute to the improvement of risk knowledge and management. Faisal received his award from Chris Daykin, former Government Actuary and Chairman of the prize committee, at a recent ceremony which coincided with the opening of SCOR’s new London office.

Professor Chris Parsons, who is Director of the MSc Insurance and Risk Management programme at Cass, and who supervised Faisal’s dissertation, said: “This is a wonderful achievement which honours Cass and reflects well on the quality of our programmes. Faisal’s award was richly deserved – his dissertation was skillfully researched and is highly relevant in the light of the current financial crisis.”

Speaking about the SCOR prize, Faisal said: “Receiving this award is truly an honour and a special moment for me. The recognition and management of systemic risk is a fundamental aspect for both the insurance and banking sector and I hope to continue to explore this area further. I would also like to thank Cass for providing me with an inspiring environment to carry out my research and I will always fondly remember my time at Cass.”

Dr Ben Rickayzen, Head of the Faculty of Actuarial Science and Insurance at Cass, said: “My congratulations go to Faisal for winning the SCOR award. To receive this prestigious prize is recognition of Faisal’s research skills and his expertise in such a critical sector.”

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