China and South East Asia past events 2013

China quarterly members event – Capital, Risk and Return

On 26th June, China quarterly event: Capital, Risk and Return took place in Beijing and Shanghai simultaneously, with the video conference facilities in place. This is an event organised by the Institute and Faculty of Actuaries (IFoA) with the help from the Beijing and Shanghai member interest groups. Two speakers Cynthia Yuan FIA and Ellen Yang FFA, spoke on the China Risk Oriented Solvency System(C-ROSS) and ERM respectively. 

Cynthia Yuan is the assistant manager in the actuarial and risk management department in the biggest reinsurance company in China - China Reinsurance, and Ellen Yang is the consulting manager at PwC Beijing. Both were trained in the UK and now work in China, therefore have extensive work experiences in the UK and China.

The event took place in the PwC offices in Beijing and Shanghai respectively. The attendees were mainly members of the IFoA, but interested members from other actuarial professional bodies also came along when they heard about the event, including the Society of Actuaries and the China Actuary Association. The event targeted both the general and the life insurance members. 

As the leader in one of the working groups set up by the China Insurance Regulatory Commission, Cynthia Yuan introduced the forthcoming new regulatory regime in China, covering its background, progress so far, future development and how its implementation will impact on the insurance companies in China overall. The presentation provided Shanghai members more exposure to the development of the C-ROSS. Ellen Yang then presented "ERM - economic view or accounting view". Ellen's topic is a popular topic in the insurance industry and she presented the same topic only two days ago in the SOA Asia conference in Macao. She explained the difference between the economic and accounting view of ERM using a few major events happened in the past in the financial industry, and threw questions at the audience to make the audience think deeply about the issues.

The lead representative of the IFoA in China and SE Asia - Wen Li gave the opening and closing speech at the event. The event has received positive feedback so thanks again to our two speakers and those who participated!

2013 China International Conference on Insurance and Risk Management (CICIRM 2013)

17–20 July 2013, Expo Garden Hotel, Kunming, Yunnan, China

The 4th China International Conference on Insurance and Risk Management will be held from 17 to 20 July 2013 at the Expo Garden Hotel, Kunming, in China's Yunnan province. The conference is organised by the Tsinghua University’s China Centre for Insurance and Risk Management (CCIRM) and the Cass Business School of City University, London, in conjunction with Yunnan University of Finance and Economics.

The Institute and Faculty of actuaries (IFoA) is the platinum sponsor for the event.

The 2013 CICIRM follows upon the successful conference in July 2012, which launched an annual forum in China for international communication and cooperation in the studies of insurance, risk management and actuarial science. Around 150 attendees will have the opportunity to hear from distinguished speakers, present recent academic and practical research in concurrent sessions, and exchange ideas with leading international researchers.

The education director of the IFoA Dr. Trevor Watkins and the lead representative in China and SE Asia Wen Li have been invited by the event organisers to attend the conference. A series of meetings will be set up between the education director and the interested universities to talk about the possible future collaborations. Wen Li will also be giving a presentation on the IFoA in the conference.

South East Asia joint regional seminar, 24 July - 2 August

The 2013 SE Asia Joint Regional Seminar (JRS) was again jointly organised by the Actuaries Institute Australia, Institute and Faculty of Actuaries and Society of Actuaries with the support of local actuarial bodies. Nowadays actuaries often spend much time talking about risks and their mitigations so the theme this year was “Taking Risks, and Winning” which was designed to equip actuaries in the region with risk knowledge and provide them with the CPD hours. The JRS took place in five cities covering Beijing, Hong Kong, Taipei, Kula Lumpur and Bangkok.

One of our fellows Ellen Yang who works in Beijing and specialises in risk management, represented the IFoA as a technical speaker in the Kula Lumpur and Bangkok event. She spoke about “ERM in Asia – A Practical View” which covered the regulation changes in Asia as well as the practical risk management issues faced by the companies and possible solutions.