The 11^th edition of the School started on 26 June, and lasted until 28 July 2000. The programme has been generally similar to that of previous editions. Main differences have been - on the one hand - the lack of lectures on Non-life Reinsurance (this subject has been lectured in 1999 and is intended to be lectured in 2001, in both cases for joint levels II and III). On the other hand, special emphasis has been laid on longevity risk (which seems important for all countries switching to market solutions in the area of pensions). Also more emphasis has been laid on practice of investment. Bonus-Malus systems has been treated in more details, than it is usual in the framework of general course on ratemaking. Also (after a few years brake) there has been offered a special lecture on monetary policy and its impact on financial markets.

Foreign participants have come from Bulgaria, Croatia, Latvia, Romania and Ukraine. The International Actuarial Assotiation has granted scholarships to two of them. Foreign lecturers have come from Belgium, Germany, Switzerland, USA and UK.

The success of the Actuarial Summer School is due to its students, lecturers and - last but not least - to the friendly support of insurers and other firms and institutions:

12^th edition took place in the period 2 July - 3 August 2001. New subjects in the programme were: Multivariate Statistical Analysis with Applications in Insurance, and Dependent Risks in Insurance and Finance.

As every year, seven Evening Seminars were given by the lecturers.

Some candidates were admitted straight to the second level (each year it happens so that few persons with a certain level of actuarial education and/or experience are accepted for the second level). Candidates for the first level were expected to be familiar with probability calculus and statistics. Graduates in mathematics, physics, technical sciences or econometrics were those who could take real advantage of participation. They had to speak English, too.

In the 12^th edition of the School, the total number of participants was 50, including 13 persons from abroad.

The success of the Actuarial Summer School is due to its students, lecturers and - last but not least - to the friendly support of insurers and other firms and institutions:

The 13^th edition of the School was organized between the 1^st of July and the 2^nd of August, 2002 Starting entirely with foreign lecturers in 1990, over the years the School has established a faculty of Polish lecturers who are in many cases former graduates of WASS. Nevertheless, so as to keep the international nature of the Summer School, the programme still contained a variety of courses presented by invited lecturers from the West.

In most cases the current year programme was as in past years, but sometimes lecturers were different. As compared to past years programme there were some differences:

• Howard Bolnick (Honorary Fellow of the (American) Society of Actuaries) presented a course "Health Insurance
• Michel Denuit (Universite Catholique de Louvain, Belgium) presented a course"General Linear Models and General Additive Models in non-life reserving and ratemaking
• Jan Dhaene (Catholic University of Leuven, Belgium) presented a course Risk Measures and Ordering of Risks
• Jean-Francois Walhin (Secura-Re, Belgium) presented a course on Reinsurance

As in the previous years, most of foreign participants were sponsored by the International Actuarial Association.

The School itself has benefited also from several domestic and international sponsors, to whom we are very grateful for their support:

The 14^th edition of the Warsaw Actuarial Summer School was organised on 7/18 July 2003. The Program, different from that of the past editions, was dedicated to actuaries and those who participated in the previous editions of WASS. The program included four two/three-day lectures:

• Asset Liability Management, Lesław Gajek, Wolfgang Hoffmann, Aleksander Rejman
• Embedded Value and Profit Testing, Wolfgang Hoffmann, Aleksander Rejman
• Accounting and Reporting, Dominik Januszewski, Jakub Wysoczański, Marcin Dymek, Jarosław Kulesza
• Statistical Methods in Ratemaking and Reserving, Richard Verrall

Two evening seminars were held as well:

• Asset Liability Models, Adam Tyrer
• Pricing Forward-Start Options in the HJM Framework, Piotr Sztuba

A group of 39 persons participated in all lectures; moreover 84 persons joined separate classes. In the group, there were eight foreign participants, i.e. from Albania, Bosnia, Hungary, Ukraine and Russia. Similarly to previous years, foreign participants were supported the International Promotion and Education Fund of International Actuarial Association. WASS organisers would like to thank IAA and also sponsoring companies for their support.

The 15^th edition of the Warsaw Actuarial Summer School was organised on 19/23 July 2004. The Program, similar to that of the 14^th edition, was dedicated to actuaries and those who participated in the previous editions of WASS. The program included two selected lectures:

• Stochastic Modelling, dr Russell Gerrard, Cass Business School, City University, London, UK
• Market Consistent Embedded Value, Wolfgang Hoffmann, Aleksander Rejman, Towers Perrin - Tillinghast, Germany

The total number of poarticipants amounted to 64, 32 of whom participated in all lectures; moreover 31 persons joined separate classes. In the group, there were nine foreign participants, i.e. from Albania, Hungary, Ukraine, Lithuania and Russia. Similarly to previous years, foreign participants were supported the International Promotion and Education Fund of International Actuarial Association. WASS organisers would like to thank IAA.

The 16^th Warsaw Actuarial Summer School was organised between 18 and 22 of July 2005. Similarly to the previous two editions it was dedicated to one advanced group, i.e. actuaries and also those who participated in WASS before.

The programme included two lectures:

• Statistical Methods of Data Mining (14 hours), Jan Mielniczuk, IPIPAN, Poland
• Hedging of Life Insurance and Pension Guarantees (10 hours), Ed Morgan, Milliman, United Kingdom, and Tamara Burden, Milliman, USA (sponsored by Milliman)

The total number of participants reached 57, including 7 persons from abroad (Serbia, Ukraine, Montenegro, Latvia, Albania and Russia). 20 persons participated in the whole programme, and 37 chose selected lectures. Some foreign participants were supported by the Partners for Financial Stability Program USAID and East-West Management Institute.

The WASS organisers would like to thank sponsoring organisations for their support.

The 17th Warsaw Actuarial Summer School was organised between 11 and 20 of September 2006. As it has been since 2003, it was dedicated to one advanced group, i.e. actuaries and also those who participated in WASS before.

The programme included three lectures:

• Projecting Life Tables & Longevity (10 hours on 11 and 12 September), Michel Denuit, Institut des Sciences Actuarielles, Universite Louvain la Neuve, Belgium
• Risk-Based Capital (15 hours on 13, 14, and 15 September), Allan Brender, the Canadian Institute of Actuaries, Canada
• Modelling Dependent Risks (15 hours on 18,19, and 20 September), Arthur Charpentier, Ecole Nationale de la Statistique et de l’Administration Economique

The total number of participants reached 92 including one person from Russia.
13 persons participated in the whole programme, and 79 chose selected lectures. The foreign participant was supported by the International Promotion and Education Fund Actions of the International Actuarial Association.

The WASS organisers would like to thank sponsoring organisation for support.

The 18th Warsaw Actuarial Summer School was organised between 12 and 21 of September 2007. As it has been since 2003, it was dedicated to one advanced group - practicing actuaries and other persons who have passed at least basic actuarial education at WASS or elsewhere.

The programme included three lectures that, as a rule, will not be repeated next year:

• Embedded Derivatives in Insurance Contracts (15 hrs.), drs. Paul de Beus, Partner at Ernst & Young, Central Europe Actuarial Services, Switzerland
• Market Consistent Embedded Value: Latest Developments (10 hrs.), dr Wolfgang Hoffmann and dr Aleksander Rejman, Tillinghast Towers Perrin, Niemcy
• Credibility and its Applications (15 hrs.), prof.dr Alois Gisler, AXA Winterthur Insurance Co. & ETH, Szwajcaria

The total number of participants reached 120. Five persons took part in the whole programme, and 115 chose selected lectures. The majority of participants were from insurance companies, some from consultancy companies, also a few from research institutes and universities (Institute of Mathematics, Polish Academy of Sciences; University of Łódź; Warsaw School of Economics; University of Warsaw).

This year we had two participants who work abroad in insurance and consulting firms, namely Triple A Risk Finance (the Netherlands) and Tillinghast Towers Perrin (Germany).

Programme Overview