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IFoA in East Asia

Beijing

The IFoA in East Asia

With rapid membership growth and actuarial industry development in the region, we are committed to developing education partnership with universities, encouraging vibrant member communities as well as seeking opportunities to engage with employers and local regulators. We ensure the proactive engagement is delivered through member support, education, regulation, technical influence as well as knowledge transfer.

The IFoA Beijing Representative Office was established in March 2013 which makes the IFoA the first actuarial association to open a representative office overseas. We are now looking after near 1,300 active members in China, Japan and South Korea, with the majority in China.

 

 


IFoA Chinese website

The IFoA China website provides the latest events, news and information throughout your qualification path in English, simplified Chinese and traditional Chinse.

There you'll find everything you need to know to help you register, study, plan your qualification route and decide the best career path for you. 

It's the best place to find out what's going on throughout the region from the IFoA.

Visit the IFoA China website


IFoA Council Members in East Asia

Council is the governing body of the Institute and Faculty of Actuaries (IFoA). There are currently two Council Members based in China. 

I have been working in the insurance industry for 19 years. Among them 10 year in UK and 9 years in China. I enjoy tremendously the changes and development of past 19 years of financial industry felt lucky as a participant. For our profession to stay prosperous and active, actively engagement our member can expand the influence of IFoA and promote the actuarial standards and the Actuaries’ Code. I have been working as an IFoA volunteer for many years by taking up different roles. I am passionate about our profession and want to do more for the profession. This is why I stood for Council elections in 2014 and 2019. I am fortunate enough to be elected. I was, am and will always be committed to the IFoA as an international organization with strong roots in the UK.

In the fast-developing digital world, actuaries will need to innovate to stay relevant. We are no longer in the secure box that we used to be. I would like to support the Council to explore how we can better innovate and therefore better equip our current young members and stay relevant. I look forward to working with you all to enhance the diversity, development and harmony of the IFoA.

Cynthia Yuan, FIA

Senior Risk Manager, China Reinsurance (Group) Corporation

 

I hold both Bachelor and Master degrees in mathematics from the University of Cambridge and a Master degree in Actuarial Science from Cass Business School. I won the award ‘Top 30 under 30’ by Actuarial Post in 2012 and the ‘FN 40 under 40 Rising Stars of Asset Management’ by Financial News. In 2018 after incorporating the subsidiary of Redington in China, I was elected as one of the ‘Top 10 elite returnees’ by Shanghai Lujiazui Financial City.

I am always passionate to serve our members and to promote actuarial science. When taking the roles as the President of Chinese Actuarial Network in UK (CANUK), I worked actively to promote the communication and cooperation between actuaries in China and UK. It is a great pleasure and honour to join the Council of the IFoA. I hope our profession will drive continuous innovation and keep bringing values to our members and our industry. I believe the profession will grow its influence in the wider fields by integrating with technology and other skills on a global scale which will ultimately help more people make better sense of the financial future.

Yang Yu, FIA

Managing Director of Redington Ltd, Deputy Chairman of Yu Yuan Technology (Shanghai) Ltd.

 

Being an actuary

Actuaries are experts in risk management. They are very well-respected professionals. Every area of business is subject to risks so an actuarial career offers many options. What really sets actuaries apart, is their natural mathematical, economic and statistical awareness, and their ability to apply this to real business issues.

 

I really appreciate the opportunities of participating in the strategy setting, providing important information to support business decisions, as well as designing products that meet the clients’ demands. Actuaries can and should take a whole picture of the company’s financial operation. Dynamic actuarial management is necessary rather than static calculation. It has extensive relationship with products, financial policies, marketing and final sales. Developments in social environment and technology have raised new challenges to actuaries. Furthermore, actuaries should find new ways to integrate their professionalism with these emerging changes in order to play new roles in the leading trends. During my career as an actuary, I got chances to cover actuarial work from valuation to products, as well as financial planning and marketing. With more than 15 years’ experience and practice in diversified actuarial work, I like the width and depth of this profession. This is the key reason for actuaries to be respected within and outside the companies.

Linjie Li, FIA

Senior actuary based in Beijing, China

 

 I enjoy my role in general because the role enables me to solve problems for insurers by team working with other professionals. Though being an actuary no longer has the prestige of automatically making people believe in you, the technical skills certainly add credibility to our arguments provided we can communicate clearly how our arguments are relevant to the questions we are trying to address. Knowing the mechanism of the technical aspects of the issue makes one feel like having insights that the others struggle to grasp, which may make our contribution valuable (sometimes). Our analytical training also enables us to question the question itself, such as whether the question has a bias in the way it is phrased - in this case I wonder why the question should not also ask what I do not enjoy in my role. 

Angelo Wang, FIA
Partner, EY Transaction Advisory Service Inc.

Please read our international career materials for detailed information of how to qualify with the IFoA.

Regional Communities

Our members in East Asia are mainly employed by insurers, consulting firms, reinsurers, investment companies, banks, etc. Most of the head offices are located in Beijing, Shanghai, Shenzhen and Hong Kong, which is aligned with our membership distribution.

Now we have three regional communities in the region: Beijing, Shanghai and Hong Kong. Visit our regional community pages to know how to get involved.

Supporting actuarial employers in East Asia

We are committed to promoting quality assurance at an organisational level to ensure confidence in the work of actuaries in East Asia. Now the Quality Assurance Scheme (QAS) opens application to organisations outside of the UK. For more information, please visit the QAS webpage.

Please contact China@actuaries.org.uk if you or your employer have any feedbacks, queries, or plan to explore potential cooperation opportunities. 

Education Partnership

The IFoA works with top universities in East Asia to ensure the highest quality in actuarial education and talent training.  The following accredited universities are offering programmes based on our new curriclum: 

  • University of Hong Kong (HKU), Hong Kong
  • Central University of Finance and Economics (CUFE), Beijing
  • Zhongnan University of Economics and Law (ZUEL), Wuhan
  • Dongbei University of Finance and Economics (DUFE), Dalian
  • Fudan University, Shanghai
  • Beijing Technology and Business University(BTBU), Beijing
  • Xi'an Jiaotong Liverpool University (XJTLU), Suzhou

View our full list of accredited universities

In China, we also work closely with universities whose actuarial programmes are teaching the IFoA’s curriculum and whose students join the IFoA and sit our professional exams:

  • Shanghai University of Finance and Economics (SUFE), Shanghai

If you are interested in becoming an IFoA’s accredited university or looking into possibility of other education partnership, please contact us to find out more.

Become a volunteer

We have more than 60 enthusiastic volunteers based in East Asia. We hold regional technical, networking and professional events and engage with local stakeholders with our volunteers’ support. They are active as Career Ambassadors, CPD Coordinators, members and chairs in China Technical Member Interest Group (MIG, and various other working parties and committees across difference areas such as Life, GI, Solvency II, Aging Population and many more.

 

“As a CPD co-ordinator, I help the IFoA Beijing office organise CPD member events. As the committee member of the IFoA China Technical Member Interest Group, I am now working with other volunteer FIAs to provide a platform for actuaries from all practice areas to be able to discuss issues.” Read the case study

Grace Pei Guan, FIA, Chief Actuary, Generali China

News and events

The IFoA has a wide range of news, events and community activites happening across the region. 

For the latest information visit our china website.

About us

 Please get in touch with us if you have an interest in joining the actuarial profession, or employing actuaries in East Asia.

  Contact details

Beijing Office

Level 14, China World Office

No.1, Jianguomenwai Avenue, Chaoyang District

Beijing, 100004

People’s Republic of China

Tel: + 86(10) 6535 0248

Email: China@actuaries.org.uk

Hong Kong Office

1803 Tower One, Lippo Centre

89 Queensway, Hong Kong SAR

+852 2147 9418 

 

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Events calendar

  • CILA 2022

    23 May 2022 - 24 May 2022

    Spaces available

    We continue to live in a world of global uncertainty. Survival depends on our ability to simultaneously navigate through the diverse root-causes, ranging from: the consequences of Climate Change; transitioning to Net Zero; increased inflationary pressures and supply chain issues; to self-imposed changes in regulatory requirements. CILA 2022 focuses on these challenges to ensure we continue to be informed and remain battle ready, as well as showcasing highlights of recent CMI outputs.

  • Spaces available

    In the spirit of fostering the IFoA’s vibrant, global community and enabling our members to participate, we have decided to hold our AGM virtually again this year. This allows for greater accessibility to this important annual event, and for greater accountability of our organisation.

    The Business of the AGM

  • The IFoA Conference 2022

    133 Houndsditch, London EC3A 7BX and Online
    22 June 2022 - 23 June 2022
    Spaces available

    We’re delighted to welcome you back to our first in-person conference since early 2020, also being delivered virtually in our first-ever hybrid event. The theme of our inaugural two-day conference is ‘Focusing on tomorrow’s actuary’ and will explore the contribution actuarial science is making to some of tomorrow’s biggest issues.

     

  • Spaces available

    This webinar will cover:

    • Some background on the risks of misselling in an ESG context, including the DWS case

    • Achieving positive impact is a strong antidote to the risks of greenwashing or ESG misselling, however this risks having a tension with fiduciary responsibilities

    • This tension can be resolved with a concept called Universal Ownership

    • Under Universal ownership, investors have an appetite to make a loss in order to achieve positive impact, and yet still have no compromise on their fiduciary responsibilities

  • Spaces available

    This session will focus on the transformation roadmap of the healthcare sector in KSA and the role of actuarial capabilities in enhancing its evolution to the desired end stage as per the objectives of the Vision 2030. The discussion will focus how the system has evolved so far and shed light on  the expected future changes. Through examining  the transformation, we will highlight how the sector is and can use actuarial  expertise to not only assist with this transformation but also use basic actuarial principles to identify the key risks and their respective mitigation strategies.