The Gulf Actuarial Society was set up to bring together Institute and Faculty of Actuaries (IFoA) members based in the 6 Gulf states of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates (UAE).
Its aims are to:
The society will provide members with the opportunity to meet other talented and dynamic minds in the profession and to fulfil your CPD requirements in the process.
Priyank Gupta: Chairperson of the Gulf Actuarial Society Committee
Priyank is a Fellow of the Institute and Faculty of Actuaries, UK. He works as a Senior Consulting Actuary with Lux Actuaries & Consultants, based in Dubai, and specialises in general insurance. Priyank has significant experience on a wide range of property and casualty projects in Europe, Asia, and the US.
Mohsin Ali Khan: Secretary
Mohsin is a Fellow of the US Society of Actuaries and works as the Head of Pricing of Life Reinsurance business - MENA region for Munich Re in Dubai. He has been working in the region for more than 10 years in both life and non-life insurance and has experience in both pricing and reserving.
Raghav Ohri: Secretary
Raghav is a Fellow of the Institute of Actuaries, UK. He is a Consulting Actuary at Lux Actuaries & Consultants based in Dubai, UAE. Based in the region since 2012, he has worked across non-life and health pricing, statutory reserving, analytics, and product development for a number of regional and international (re)insurers.
Ali Asghar Bhuriwala: Committee member
Ali is an Associate of the Society of Actuaries. He started his professional career with EY in Pakistan and has been working in the profession for around 17 years. After spending 8 years in EY, he joined Tokio Marine Middle East Limited as head of the actuarial and risk management function for their group companies in the MENA region. Ali co-founded Badri Management Consultancy in late 2014 and is currently serving as the Executive Director of the company, which has fully fledged offices in UAE and Pakistan, and a strategic alliance in KSA.
Ali has extensive experience of life and non-life insurance pricing and reserving. He also has done considerable work on end of service benefit valuations.
He has written articles for local and international publications regarding insurance and the actuarial profession. He also holds a Certificate in Takaful from the UK-based Institute of Islamic Banking and Insurance.
Abdul Moid Ahmed Khan: Committee member
Abdul Moid is a Fellow of the US Society of Actuaries and works as a Senior Manager at SHMA Consulting based in Dubai, UAE. He has expertise in both life and general insurance and has more than 10 years of insurance and actuarial consulting experience in large projects for multiple insurers and reinsurers in the Middle East and Asian countries. He also has a responsibility for managing a large consulting team and serves as an appointed actuary for several insurance companies.
Abdul Moid also serves as a member of the IFRS-17 Working Group of the Institute of Chartered Accountants of Pakistan (ICAP), a member of the IFRS-17 Working Group of the AAOIFI, a council member of the Pakistan Society of Actuaries (PSOA), and Visiting Faculty Member in the Actuarial and Risk Management Department of the University of Karachi, Pakistan.
Welcome and introduction by Raghav Ohri, Secretary, GAS
Speakers included:
Session 1: Machine learning in health insurance
Speaker: Navarun Jain, Senior Actuarial Analyst, Lux Actuaries & Consultants, Dubai
Session 2: IFRS 17: Return as an AA
Speaker: Hatim Maskawala, Managing Director, Badri Management Consultancy, Dubai
Session 3: Mortgage insurance, a largely untouched segment
Speakers: Syed Muhammed Imran Haider FSA FIA CERA
Session 4: Working together to develop the actuarial profession
Speaker: Kalpana Shah, President-elect, Institute and Faculty of Actuaries, UK
Event sponsored by Lux Actuaries & Consultants
Welcome and regional updates by Raghav Ohri, Secretary, Gulf Actuarial Society
Introduction by Mana Alkhamsan, Director General, The Financial Academy
Speakers included:
Session 1: An actuarial perspective of an insurance CRO
Speaker: Cobus Fourie, Chief Risk Officer, AIG Middle East & Africa, Dubai
Resource: The Actuary CRO (PowerPoint, 849 KB)
Session 2: DEWS – a catalyst for change to existing EOS regimes in the GCC
Speaker: Claudia Maldonado, Principal, Mercer, Dubai
Resource: A catalyst for change to existing EOS regimes in the GCC (PDF, 2 MB)
Session 3: A customer-level value framework for banks
Speaker: Ernest Louw, Head of Banking Practice, Lux Actuaries & Consultants, Abu Dhabi
Resource: A customer-level value framework for banks (PDF, 260 KB)
Session 4: Do actuaries need to reinvent themselves in a post COVID-19 world?
Speaker: Colin Dutkiewicz, Global Head of Life, Aon Reinsurance Solutions, London
Resource: COVID-19 Impact of Life Insurance Market (PowerPoint, 2.4 MB)
Event supported and hosted by Financial Academy, Saudi Arabia
If you would like to find out more or join the society, please email gulfactuarialsociety@gmail.com.