There is strong demand for mathematicians in the insurance industry since it needs their analytical skills and expertise in solving complex problems. Around 400 graduate mathematicians work as employees in the Talanx Group in Germany. The majority of them have studied actuarial science as a supplementary training to become an actuary with the German Actuaries Association (Deutsche Aktuarvereinigung, DAV), which is supported by Talanx. Actuaries are experts who use methodology from probability theory and statistics, as well as advanced actuarial theory and financial mathematics in order to develop solutions in a wide range of areas. In the first instance, the spectrum comprises traditional fields of application in the core business of the Talanx Group. These include the modelling and evaluation of insured risks arising from natural catastrophes like earthquakes, hurricanes or flooding, calculation of premiums for life insurance contracts with the assistance of statistically determined probabilities of mortality, the development of new insurance products and associated IT systems for their management, advice for customers on individual insurance solutions, and the management of investments. Secondly, the increasing complexity of insurance business, the current market environment and the regulatory demands are always presenting new challenges for players in the field, particularly in the context of modern risk management. A top priority here for the Talanx Group is the internal corporate model for calculating the regulatory capital requirements.
The National Mathematics Competition is designed for schoolchildren at all levels in German schools and also abroad with an interest in mathematics. The content of the competition is based on the curriculum in the ninth to thirteenth year of the German school system. Since the competition was established in 1970, some 70,000 schoolchildren have taken part. The objective is to stimulate an interest with schoolchildren in mathematics so that they engage with the subject and test their abilities in mathematics. When they start their degree course, the national winners are enrolled as scholars in the Study Foundation of the German People and they receive a great deal of varied support.
The competition is organised by the German talent promotion centre Education & Talent (Bildung & Beratung). “Our objective is to motivate schoolchildren to test and develop their mathematical abilities. This should enable them to find out just how exciting mathematics can be and they will see just how much creativity is required in order to solve mathematical problems,” commented Hanns-Heinrich Langmann, Head of the National Mathematics Competition. “We are delighted to welcome Talanx as the main sponsor for the competition from 2017."
Education & Talent is promoted by the German Federal Ministry for Education and Research, the Donors’ Association and the Cultural Ministers’ Conference. The President of Germany is the patron.
This news release contains forward-looking statements which are based on certain assumptions, expectations and opinions of the Talanx AG management. These statements are, therefore, subject to certain known or unknown risks and uncertainties. A variety of factors, many of which are beyond Talanx AG’s control, affect Talanx AG’s business activities, business strategy, results, performance and achievements. Should one or more of these factors or risks or uncertainties materialise, actual results, performance or achievements of Talanx AG may vary materially from those expressed or implied in the relevant forward-looking statement. Talanx AG does not guarantee that the assumptions underlying such forward-looking statements are free from errors nor does Talanx AG accept any responsibility for the actual occurrence of the forecasted developments. Talanx AG neither intends, nor assumes any obligation, to update or revise these forward-looking statements in light of developments which differ from those anticipated.