Actuary of the Year

A Dual Honour

Each year, the Actuaries Institute recognises one individual for their contribution to the profession and the community. 

This year, however, the Actuaries Institute is pleased to announce that we are honouring two exceptional actuaries due to the profound impact and collaborative effort they have shown in advancing climate change solutions.

Congratulations to our 2023 Actuary of the Year Award winners, Rade Musulin and Sharanjit Paddam!


Rade Musulin: Leading the way through natural perils and climate risk

Rade is an actuary with more than 40 years' experience specialising in natural perils, catastrophe risk modelling, public policy development and sustainability, and he has assisted industry and government with improving their resilience and understanding of climate change.  

Rade is the lead spokesperson for the Australian Actuaries Climate Index and was the lead author of the Actuaries Institute Research Paper ‘Property Insurance Affordability: Challenges and Potential Solutions’

His impact has been internationally recognised, with Rade representing the profession at COP27 and later this year at COP28 in Dubai. He is 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 a long history of academic collaboration and was a lead author on the joint IAA and IPCC Climate Science: A Summary for Actuaries. 


Sharanjit Paddam: Paddam: Championing climate change solutions

With three decades under his belt, Sharanjit has continuously advanced our understanding of climate change and its intersection with the banking and insurance sectors. 

Among his remarkable achievements is his appearance as an expert witness in the Royal Commission in National Arrangements for Natural Disasters and authorship of the recent Report, Home Insurance Affordability Update

Sharanjit has also shared his insights to broad audiences through the media, as a spokesperson for Institute-commissioned research, and in his TedX talk, which urged financial institutions to consider how they can respond to climate change. 

A Shared Vision  

The recognition of these two exemplary individuals highlights more than the incredible accomplishments of Rade and Sharanjit – it showcases the unique skills and values actuaries possess to make lasting change, using data for good. 

In the words of Actuaries Institute President, Naomi Edwards, “Their work stands as a testament to how actuaries can harness data for positive change, influencing global shifts."

Rade and Sharanjit will be presented with their awards later this year.