The Participating Organizations jointly acknowledge that:

• The operating environments in the three North American countries are very different,
• The Participating Organizations’ members expect the organizations to leverage resources and take appropriate advantage of synergies, and
• Increased information sharing and dialogue among the Participating Organizations has the potential to yield collective insights valuable to each organization.

Accordingly, the Participating Organizations define NAAC’s purpose as follows:

1. NAAC is to be a catalyst for dialogue on key issues facing the North American actuarial profession.
2. NAAC is to be a facilitator of opportunities for leveraging of resources across organizations.
3. NAAC is to be a source of knowledge in identifying conditions, trends, assumptions, and key issues affecting the North American actuarial profession and benchmarking best practices among member organizations.
4. NAAC is to be a forum for information sharing on current and potential activities among the North American actuarial organizations.
5. NAAC is to be a forum where networking occurs and camaraderie is built among the leaders of the North American actuarial organizations.

In fulfilling its purpose, NAAC shall abide by the following guiding principles:

• The conditions, cultures and perspectives of each individual country and their member organizations will be respected and valued.
• The autonomy of each member organization to pursue its mission and purpose will be preserved.
• The public interest will always be a primary consideration.
• The best interests of the profession will always be considered.