AFIR - ERM was founded in 1988 as a section of the International Actuarial Association (IAA). It stands for Actuarial Approach for FInancial Risks. AFIR-ERM has as its objective the promotion of actuarial research in financial risks and problems. AFIR-ERM members receive the ASTIN Bulletin, an internationally renowned referenced scientific journal. The ASTIN Bulletin is published twice a year by ASTIN, the non-life insurance Section of the IAA.
The most important function of AFIR-ERM is the organizing of annual colloquia, the first of which was held in Paris in 1990. At these colloquia, knowledge is exchanged among actuaries of different countries and different disciplines. The colloquia bring together academics and practitioners and thus provide a valuable forum for learning and keeping up to date with the fast changes occurring in the disciplines of finance, financial economics, and the management of financial risks, focusing on applications to insurance and pension funds. As well as being professionally stimulating, AFIR-ERM Colloquia have social benefits as well, as they usually take place in attractive and interesting sites which contribute to a friendly and collaborative atmosphere.