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 1,200 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.
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
General Manager of Product Department, Heng An Standard Life Insurance Company Limited
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.
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.
The IFoA works with top universities in East Asia to ensure the highest quality in actuarial education and talent training. We have accredited 8 universities in China:
- University of Hong Kong (HKU), Hong Kong
- Central University of Finance and Economics (CUFE), Beijing
- Southwestern University of Finance and Economics (SWUFE), Chengdu
- Zhongnan University of Economics and Law (ZUEL), Wuhan
- Dongbei University of Finance and Economics (DUFE), Dalian
- Antai College of Economics and Management (ACEM), Shanghai Jiao Tong University, Shanghai
- Fudan University, Shanghai
- Beijing Technology and Business University, Beijing
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
- Xi’an Jiaotong Liverpool University (XJTLU), Suzhou
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.
Please get in touch with us if you have an interest in joining the actuarial profession, or employing actuaries in East Asia.
Level 14, China World Office
No.1, Jianguomenwai Avenue, Chaoyang District
People’s Republic of China
+ 86(10) 6535 0248
Hong Kong Office
1803 Tower One, Lippo Centre
89 Queensway, Hong Kong SAR
+852 2147 9418
Lead Representative of China and East Asia
Regional Coordinator of East Asia
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Delivered by the IFRS 17 Contractual Service Margin working party.
The Certified Actuarial Analyst (CAA) qualification has rapidly established itself as adding real value, to insurers and consultancies, and to the clients of consultancies, around the World. CAAs work alongside actuaries and actuarial students, as well as other financial services professionals, in an increasingly broad range of roles and fields.
This session is a repeat of the one earlier today at 09:30
Many individuals and institutions have a long-term focus, and invest funds for the benefit of future generations. Their strategy should reflect their long horizon. University endowments are one of the oldest classes of institutional investor, and I will present the first study of the management of these endowments over the very long term.
This year's GIRO has been re-designed as a virtual conference to offer members and non-members the opportunity to get up to date content from leading experts in the general insurance field via online webinars. All sessions will be recorded and made available to purchase and re-watch post-event on the IFoA's GI Online Learning Resource area.
This year's Life Conference has been re-designed as a virtual conference to offer members and non-members the opportunity to get up to date content from leading experts in the life insurance field via online webinars. All sessions will be recorded and made available to purchase and re-watch post-event on the IFoA's website.
This webinar will provide an update on the emerging thinking around future regulation of DB schemes:
The webinar will discuss the challenges and opportunities schemes face in evaluating end game options, choosing a target state and understanding the impact this strategic decision could have on member outcomes long after the “end state” is reached. Adolfo, Kevin and Rhian bring over 60 years of experience in the industry and a variety of perspectives as scheme actuary, covenant adviser, trustee, de-risking adviser and insurer.
Cash-flow driven investing is a game-changer for DB pension funds navigating their end-game. Suitable for sponsors who want to reduce risks on their balance sheets. And for trustees, it shifts the focus to providing greater certainty of returns, managing funding level volatility and ensuring they have enough income to pay cash-flow requirements.
Patrick Kennedy, Partner at Gateley Legal and Founding Director of Entrust (a leading professional pensions trustee company), will be delivering an update on the latest legal developments during the course of 2020. With both a pensions legal perspective and over 25 years of trustee service, Patrick will seek to highlight how the letter of the law has continued to evolve against the backdrop of a difficult and challenging year
The talk will provide an understanding of the priorities and relationships between deficit reduction contributions, in the context of wider scheme funding, and different types of value outflow from the employer based on the working party’s recently published report.