Development of the Actuarial Profession in Asia and the Pacific Summary of questionnaire responses, September 2007 Number of Actuaries and whether there is an association Fully qualified Partly qualified Member of IAA Formation of association Bangladesh 3 25 Not yet 2007 Bhutan 0 0 No assn. Hong Kong 330 304 Full 1967 Indonesia 130 1791 1 Full 1964 Japan 1182 2475 Full 1899/1989 Korea 593 261 Associate 1971 Malaysia 60 272 Full 1978 Philippines 62 58 Full 1953/1969 Singapore 127 182 Full 1976 Thailand 4+ 2 82 Associate 1975 Vietnam 7 25 No assn. 1 including 197 Associates 2 plus 10-15 expatriate actuaries working as consultants from outside Thailand Education routes for actuaries SoA UKAP IAAust Own exams Other University education No of univs. Bangladesh 1 Bhutan Hong Kong 4 Indonesia 2 Japan Korea 5 Malaysia 2 Philippines 3 Singapore 3 Thailand 2 Vietnam 1 Institute of Actuaries of India
Employment of actuaries Senior Mgt. Pension Social security Invt. Govt./ regulator Bangladesh 1 1 Bhutan 1 1 1 1 Hong Kong Indonesia Japan Korea Malaysia Philippines Singapore Thailand Vietnam 1 by consultants from outside the country Regulatory requirements for actuaries and role of association Consultants Life Health Nonlife Regulatory Role of actuarial association requirements Life Nonlife education education education Pens. Initial Specialist Profm CPD Bangladesh Bhutan Hong Kong Indonesia Japan Korea Malaysia Philippines Singapore Marketing profession Thailand Vietnam
Annex 1 Contact details by country Bangladesh Actuarial Society of Bangladesh (ASB) President: A K M Elias Hussain, Deputy Managing Director, Sandhani Life Insurance Co. Ltd., 19 Rajuk Avenue, Motijheel, Dhaka 1000, Bangladesh Tel.: +88 01715 972978 / +88 01817 149399 Fax: +88 02 955 4847 presidentasb@hotmail.com Vice-President: Noor Mohammad Bhuiyan Bhutan No actuarial association yet Contact: Ugyen Tshewang National Pension and Provident Fund, Post Box 1046, Thimphu, Bhutan Tel.: +975 2 325758 Fax: +975 2 324306 ugyentshewang@druknet.bt Hong Kong Actuarial Society of Hong Kong (ASHK) President: Sim Ng; Vice-President: Tony Cheng; Secretary: David Waples Contact: Stuart Leckie, ASHK, 2202 Tower Two, Lippo Centre, 89 Queensway, Hong Kong Tel.: +852 2147 9998 Fax: +852 2147 2822 stuart.leckie@stirlingfinance.com patkum@netvigator.com Indonesia Society of Actuaries of Indonesia (PAI) President: Rianto A Djojosugito Vice President 1 & Secretary General: Angger P Yuwono Vice President 2: Iene Muliati ienemuliati@hotmail.com Japan Institute of Actuaries of Japan (IAJ) President: Tsutomu Igarashi Vice-Presidents: Kazuma Ishii, Yasuhide Fujii, Shuhei Ida, Kouji Hanaoka General Secretary and contact: Yoshihiko Tsuji, Harumi Island Triton Square Office X 2F 1-8-10 Harumi, Chuo-ku Tokyo 104-6002 Japan Tel.: +81 3 5548 6033 Fax: +81 3 5548 3233 general.secretary@actuaries.jp Korea Institute of Actuaries of Korea (IAK) President: Park Hae-Choon Vice-Presidents: Jun Suck-Woo, Jeong Dae-Young, Park Sang-Rae Secretary and contact: Choi Sun-Hong KTFA 1105, 35-4, Yeouido-dong, Yeongdeungpo-gu, Seoul, Korea Tel.: +82 2 782 7440 Fax: +82 2 782 7441 actuary@actuary.org.kr
Malaysia Actuarial Society of Malaysia (ASM) President: Raymond Lai You Kim Uni. Asia Life Assurance Bhd 2 nd floor, Bangunan Uni. Asia 16 Jalan Tun Siew Sin 50050 Kuala Lumpur, Malaysia Tel.: +603 Fax: +603 2026 7476 lyk@uniasialife.com.my Vice-President: Loke Chang Yueh Secretary: Lim Kuan Hong Philippines Actuarial Society of the Philippines (ASP) President: Ma. Elena B Herrera Vice-President: Ma. Edita Elicano Secretary: Maria Asuncion Martin Contact: S. Rachel B Arada, University of the Philippines Tel.: +632 807 1988 Fax: +632 807 1988 rachelarada@up.edu.ph Singapore Singapore Actuarial Society (SAS) President: Andrew Linfoot Scottish Re, #16-01 SGX Centre 1, 2 Shenton Way, Singapore 068804 Tel.: +65 6311 5411 andrew.linfoot@gmail.com Vice-President: Khoo Kah Siang (khookahsiang@lifeisgreat.com.sg) Honorary Secretary: Mark Birch (markabirch@yahoo.com.sg) Thailand Society of Actuaries of Thailand (SOAT) President: Amornthip Chansrichawla 295 Siphaya Road, Siphaya Bangrak, Bangkok 10500, Thailand Tel.: +662 640 7765 Fax No.: +662 640 7856 amornthip@mittare.com rattiyas@mittare.com Vice-Presidents: Paisri Chutiviriyakarn, Kitti Rungsisingpipat Secretary: Yongyouth Lim Vietnam No actuarial association yet Contact: Dr Nguyen van Tao No 4, Crest 1, Hang Chuoi Street, Hanoi, Vietnam (So 4, Ngo 1, Hang Chuoi, Ha Noi) Tel.: +84 4 971 6628 Fax: +84 4 971 6628 taonguyenvan@vnn.vn
Annex 2 Questionnaire FIFTH INTERNATIONAL PROFESSIONAL MEETING OF LEADERS OF THE ACTUARIAL PROFESSION IN ASIA AND THE PACIFIC COUNTRY QUESTIONNAIRE Details of person completing questionnaire: Name: Address: Tel No.: Fax No.: E-mail address: 1. Country for which answers are provided 2. How many actuaries are there in your country? If possible (or appropriate) it would be helpful if you could subdivide the total number into 1) qualified actuaries or full members of the national association 2) partly qualified actuaries (who have received some training as an actuary or passed some examinations, but are not regarded as fully qualified) and 3) interested persons (who have not received any formal training as an actuary, but are engaged in actuarial work). 1) 2) 3) 3. How have actuaries in your country received their actuarial education? Please give an indication of numbers in each category Distance-learning education and examination systems Faculty/Institute of Actuaries Society of Actuaries Casualty Actuarial Society Institute of Actuaries of Japan Institute of Actuaries of Australia Institute of Actuaries of India Other Diploma course or Summer School University education Actuarial science first degree programme Actuarial options on some other first degree programme Masters (or similar higher degree) programme Doctorate or other research based degree Actuarial education received whilst working as an actuary In the case of those with a university education in actuarial topics, in which countries, and at which universities in those countries, was this education received?
4. Are there any universities or other higher education institutions in your country which offer any formal actuarial education? If so, please provide details, including an indication of whether the universities are able to teach actuarial mathematics, statistical methods, modelling (as required for the IAA core syllabus) and Actuarial Risk Management (the Actuarial Control Cycle): 5. Are there any laws or regulations in your country which require some role or task to be carried out by an actuary? What qualifications are required? Please provide details, and, if possible, attach a copy of an English translation of the relevant clause, section or paragraph of the law which refers to actuaries. 6. In what fields of activity are actuaries employed in your country? Please tick whichever apply or, if possible, give approximate numbers in each category. Senior management of company or institution Actuarial work as employee of - life insurance company - health care organisation or company - general insurance company - national social security scheme - complementary pension scheme - investment company - regulator or government department - other Consulting actuary, working mainly in - life insurance - health care - general insurance - social security - complementary pension schemes - investment - other
7. Is there a national association of actuaries in your country? If so, When was it established? Is the Association a full member of IAA? Is the Association an associate member of IAA? Is the Association discussing membership with IAA? If not, are there any plans to establish one? Please provide details of the current officers of the association President: Vice- President: Secretary: 8. For those countries where there is a national association of actuaries: a) Has the association adopted a professional code of conduct? b) Does the association play an active role in educating actuaries? - initial technical education - country-specific education in applications of actuarial science - professionalism education - continuing professional development (continuing education) Please provide details of educational activities c) Is membership of the association recognised by regulatory bodies in relation to who can call themselves an actuary? Please indicate how this works and whether the association has a particular category of membership for such purposes:
d) Is the association a statutory body recognised by the government or by regulatory bodies? e) Is the association consulted by government or by regulatory bodies? Please give some examples f) Does the association play an active role in marketing the profession? Please provide examples of recent activities g) What are the major issues facing the profession in your country at the moment? h) Please provide details of any other activities of the association which you think may be of interest. 9. What topics would you like to see discussed at the upcoming IAA Fund meeting?