IFoA and Sunshine Insurance Group enter into ground breaking agreement on sponsorship of actuarial students

The Institute and Faculty of Actuaries (IFoA) has today (21 September) entered into an agreement with Sunshine Insurance Company for them to sponsor IFoA students at IFoA linked universities in China: the Central University of Finance and Economics and the University of International Business and Economics.

Due to the continuing rise in demand for actuarial expertise from the insurance industry in the region, the agreement will see both organisations unite with domestic and overseas universities in China to collaborate in training high quality actuarial talents.

Colin Wilson, President of the IFoA, comments:

“The IFoA is delighted to be entering into this ground breaking agreement with Sunshine Insurance Group  for the sponsorship of IFoA students at key universities in China.  They are the first insurance group in China to recognise the excellence of our students through a formal sponsorship programme and we look forward to building this into a mutually successful relationship that supports the development of outstanding actuarial talent in the region.”

Mr Zhang Wei gong, Chairman of Sunshine Insurance Company, said

“This is the first time Sunshine Insurance Group has signed a cooperation agreement with universities and an overseas professional organisation. The agreement is a significant milestone for Sunshine Insurance Group to attract actuarial talents and to build an international professional team to promote its overseas strategic plan. At the same time, we hope to establish a long-term cooperation between the three parties in many areas. The cooperation in actuarial training, researching and expanding in overseas markets will also follow.”

~ENDS~

Editorial notes:

About the Institute and Faculty of Actuaries

The Institute and Faculty of Actuaries (IFoA) is a royal chartered, not-for-profit, professional body.

Research undertaken by the IFoA is not commercial.  As a learned society, research helps us to fulfil our royal charter requirements to further actuarial science and serve the public interest. 

Actuaries provide commercial, financial and prudential advice on the management of a business’s assets and liabilities, especially where long term management and planning are critical to the success of any business venture. They also advise individuals, and advise on social and public interest issues.

Members of the IFoA have a statutory role in the supervision of pension funds and life insurance companies. They also have a statutory role to provide actuarial opinions for managing agents at Lloyd’s.

Members are governed by the Institute and Faculty of Actuaries. A rigorous examination system is supported by a programme of continuing professional development and a professional code of conduct supports high standards reflecting the significant role of actuaries in society.

The IFoA is available to provide independent expert comment to the media on a range of actuarial- related issues, including enterprise risk management, finance and investment, general insurance, health and care, life assurance, mortality, and pensions.

About Sunshine Insurance Company

Sunshine Insurance Group Co., Ltd. is one of China's top 500 enterprises and China's top 100 service enterprises. Sunshine Insurance Group started as a property & casualty insurance company, which was founded in 2005. In its third year, the Group became one of the top seven insurance groups; in its fifth year, the Group overtook 71 insurance companies founded during the same period with Sunshine; in its ninth year, the Group set foot in the online finance and overseas real estate investment sectors; in its tenth year, the Group successfully entered the health care industry and came out as one of the fastest-growing enterprises in the world. As of now, the Group owns a number of specialized subsidiaries, including Sunshine Property and Casualty Insurance, Sunshine Life Insurance, Sunshine Credit and Guarantee Insurance, Sunshine Asset Management, Sunshine Union Hospital and HFAX. It has grown into a leading force in the transformation and development of the insurance industry.

Highly recognized by the society for its innovative management model, excellent corporate culture and sense of social responsibility, Sunshine Insurance has received a number of honors: China’s Top 50 companies award in Public Welfare, China Red Cross Medal, Most Socially Responsible Insurance Company, China’s Best Business Model, Best Management Innovation Award, First National Corporate Culture Demonstration Base in the Financial Industry, Best Employer, Best Corporate Culture Award, Best Insurance Company for Claims Settlement, Most Competitive Insurance Company, Happiest Company, Best Annual Overseas Merger & Innovation Award, China's Best Insurance Asset Management Company, China's Top 500 Companies in Credit. The Company’s brand image and influence have been increasing.