Challenges and Opportunities in Asia

The Asian Actuarial Conference (AAC) + The READI Project

Whether you travel the world or never leave your home country, you are affected by global organizations, international requirements and the increasingly international nature of the actuarial profession itself. Here is some news from around the world.

20th Asian Actuarial Conference

The 20th Asian Actuarial Conference (AAC), organized by 12 actuarial associations in Asia, took place Nov. 9–12, 2016, in Gurgaon, India. This year’s theme was “Changing Asian Societies: Challenges and Opportunities,” and focused on the challenges and opportunities actuaries and other professionals in the financial sector face in the region due to the evolving political, economic and demographic forces.

The Society of Actuaries (SOA), one of the event’s sponsors, was represented at the conference by 2017 SOA President Jeremy Brown, FSA, MAAA; Dale Hall, FSA, CERA, CRA, MAAA, SOA managing director of research; Ann Henstrand, SOA senior director, international; and Jessie Li, FSA, the SOA’s lead China representative.

Brown was the keynote speaker during the opening ceremony on the second day of the conference and delivered a speech during the plenary session under the title “Expanding the Profession and Blurring of Boundaries.”

Visit to Indonesia

The Society of Actuaries (SOA), represented by 2016 SOA President Craig Reynolds, FSA, MAAA; Ann Henstrand, senior director, international; and Wai Ling Yung, programs manager in Hong Kong, attended the symposium “Global Trends in Actuarial Education and Professional Development,” which was organized by the Risk Management, Economic Sustainability and Actuarial Science Development in Indonesia (READI) Project on Sept. 26, 2016, in Jakarta, Indonesia.

The READI Project’s goal is to increase the number and quality of Indonesian actuarial science graduates to address the country’s growing demand for actuaries.

During the symposium, Reynolds presented the SOA’s mission, vision and the newest developments in the association’s educational track, including the Associate of the Society of Actuaries (ASA) curriculum changes. Reynolds discussed the SOA’s presence and activities in the Greater Asia region, including local professional development programs.

The SOA’s team was able to meet with Rianto Ahmadi Djojosugito, president of the Persatuan Aktuaris Indonesia (Society of Actuaries of Indonesia) in Jakarta, along with other senior staff, to discuss ways in which the two societies might work together. They also exchanged information about challenges for attracting and retaining actuarial staff with PT AXA Life Indonesia’s Vincentius Wilianto, chief financial officer and country chief risk officer, other senior AXA Life staff, and Indonesia SOA Ambassador Kim Yeoh, chief actuary for PT Prudential Life Assurance Indonesia.

The visit concluded on Sept. 27, 2016, with an evening networking reception organized by the SOA at PT Prudential Life Assurance. More than 50 members, candidates, university lecturers and even one high school student interested in an actuarial career attended the event that included a meet and greet session, dinner and a presentation by Henstrand that covered news and education updates.

Copyright © 2017 by the Society of Actuaries, Chicago, Illinois.