Changes in regulatory policies and market demand have led to higher requirements for talent in the mainland Chinese insurance market.
The CBIRC and the Ministry of Human Resources and Social Security have proposed regulations setting out the requirements that have to be met to obtain actuarial qualifications.
The General Arab Insurance Federation (GAIF) has announced the establishment of the Association of Arab Actuaries (AAA) on 17 March with the founding meeting held in Lebanon which was hosted by the Association of Insurance Companies in Lebanon.
The General Arab Insurance Federation (GAIF) has announced plans to establish an association of Arab actuaries, in line with the objectives of the federation to be supportive of the development and integration of the Arab insurance industry.
The actuarial profession will play an increasingly important role as governments and the public grapple with the challenges posed by mega trends such as artificial intelligence and climate change, according to Ms Naomi Edwards, who has been appointed President of the Actuaries Institute for 2023.
The Association of Tanzania Insurers (ATI) has lamented the shortage of local actuarial experts, a situation attributed to the high cost of obtaining international certifications.
The Labour Fund, Tamkeen, has signed partnership agreements with five leading insurance companies in Bahrain to train and employ Bahrainis in the field of actuarial sciences, to prepare them for quality careers in the insurance sector and increase the Bahrainisation rate in this specialty.
The Australian Actuaries Climate Index recorded the third highest index value in Spring 2022 since the Index was created. This was primarily driven by extreme rainfall, especially in the south-eastern parts of the country, according to a report by the Actuaries Institute.
The Actuaries Institute has warned in a report that there are some low probability but plausible scenarios that involve a significant recession within the next 15 years. These scenarios involve policymakers veering off course and burdening businesses and the public with stagflation, mismanaging a collapse in house prices, or excessive government spending.
The IRDAI has spelt out requirements regarding actuaries to be hired by insurance companies.