A roundup of news from the global communityJune/July 2016
Photo caption: Participants of the first executive training exchange program closed the two-week event with a dinner at the National Museum of Mathematics in New York.
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.
First Executive Training Exchange Program
In April, the Society of Actuaries (SOA) hosted chief actuaries and actuarial department heads from China as part of an executive training exchange program with the China Association of Actuaries (CAA). Members and staff from the CAA participated in a variety of meetings with the SOA in New York, Connecticut and Washington, D.C.
“Actuarial work grows increasingly global each year, and actuaries can benefit from learning more about actuarial issues and practices in other countries,” says SOA President Craig Reynolds, FSA, MAAA. “This program was designed to facilitate an information exchange that can strengthen the profession in both countries, while simultaneously solidifying relationships between the SOA and the CAA.”
The exchange program participants met with actuarial employers, organizations and institutions, including St. John’s University, Aetna, AIG, MetLife, Prudential, the Federal Reserve, the Federal Insurance Office, Columbia University, University of Connecticut, Haven Life, TIAA-CREF, Milliman, Willis Towers Watson, Anbang Insurance Group and the American Council of Life Insurers.
“This exchange program will help enhance relationships and cooperation [among] actuaries from companies in China and United States, and the industry,” says Chen Dongsheng, president of the CAA. “The discussions from this program will help in understanding developments within the international insurance market.”
SOA members will be able to participate in a similar program held in China in 2017.
New Office in Beijing
The SOA is proud to announce the establishment of its China office in Beijing. With more than 750 member actuaries in the area, China is an important market for the SOA, where it continues to serve a key role in the development of the actuarial profession and the insurance industry.
To commemorate the new office, Wei Cui, the general manager of Willis Towers Watson, acted as master of ceremonies at the opening reception. Speakers at the event included Genghui Wu, chairman of the International Committee of the SOA; Shirley Shao, chairman of the China Committee of the SOA; Jiangang He, deputy director of the CAA Health and Life department and mortality investigation office; Ling Ling Wang, deputy chief actuary of Ping An Insurance (Group) of China; Lan Wu, professor at Peking University; and Ann Henstrand, senior director of the International department at the SOA.
“With the China office and the expertise of the SOA’s staff in China, and Jessie Li, the SOA’s lead China representative, the SOA will be able to enhance the connection with members, candidates and partners; provide high-quality professional service; and promote the development of the Chinese actuarial industry through a joint effort with partners,” explains Henstrand.