Finity’s top two climate actuaries named Actuary of the Year

Finity is proud to announce that its leaders in the climate and sustainability space, Sharanjit Paddam and Rade Musulin have jointly beed named 2023 Actuary of the Year by the Actuaries Institute. The Actuary of the Year is a prestigious award presented annually to a member of the Actuaries Institute who has made a notable contribution to the community and has brought credit to the profession.

This award recognises Rade and Sharanjit’s innovative approach to solving complex climate-related challenges for business and government, as well as their leadership of Finity’s pioneering climate and sustainability practice, and the dual win is testament to their steadfast collaboration.

As passionate advocates for data and science, Sharanjit and Rade leverage their complementary skills to help insurers, banks and other corporates navigate and respond to climate risk, while identifying opportunities for profitable growth as they transition to a more sustainable world.

“Both Sharanjit and I have worked to make the public aware of actuarial contributions, such as by being the Actuaries Institute’s spokespersons on climate, the Institute’s climate index, and insurance affordability challenges,” said Rade.

“The actuarial profession has a long history of adapting to new challenges, and climate change is one of the most significant. The most important part of the work I do is helping younger actuaries begin their climate and sustainability journeys.”

Sharanjit added: “Finity’s Climate and Sustainability practice is at the forefront in guiding government, banking and insurance organisations as they integrate climate risk management into their strategy and operations. I particularly enjoy co-leading the team in this capacity, and developing our young actuaries’ skills and experience in this area.

“I am honoured to receive this award alongside my colleague and friend, Rade, and I thank the Actuaries Institute and the profession for this recognition of our contributions and the importance of tackling climate change.”

Rade and Sharanjit have volunteered with the Actuaries Institute for many years and contributed to the institute’s work in a variety of capacities, including authoring an array of highly-regarded papers, contributing to numerous submissions to government, regulatory bodies, and independent inquiries, and chairing the Climate Risk Working Group.

Rade is currently chair of the International Actuarial Association’s Resource and Environment Virtual Forum and a member of the IAA’s Climate Risk Task Force. He has contributed to a number of prominent publications as an author, including the joint IAA and IPCC Climate Science: A Summary for Actuaries. He represented the global actuarial profession at COP 27 in Egypt in 2022 and will attend again at COP 28 in Dubai later this year.

Sharanjit was named ANZIIF Insurance Leader of the Year in 2022, Climate Alliance Risk Manager of the Year 2020 and represented the Actuaries Institute as an expert witness at the Royal Commission into National Arrangements for Natural Disasters. In 2022 he presented a TedX on Climate Change and banks and Insurers.

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