IFoA is first actuarial association to open a representative office in Beijing, as business license is granted

Wen Li has acted as a representative in the region for the IFoA since 2013. Li has provided support for the IFoA’s approximately 400 strong membership in the country and helped to develop the IFoA’s relationships with the China Association of Actuaries, local regulators and businesses employing our members.

Derek Cribb, CEO of the IFoA comments;

“Having legal status in China is immensely important to the IFoA as it will enable us to further evolve the support we provide our members in the region and, consistent with our royal charter objectives, more effectively promote actuarial science.

“China has experienced a great deal of change and growth in recent years and with it a demand for quality actuaries.  The high standards that IFoA membership represents, and our commitment to work in partnership with the China Association of Actuaries, local regulators and leading academic institutions, should have real impact on the development of actuarial science in the region.”

~ENDS~

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Editorial notes:

About the Institute and Faculty of Actuaries

1. The Institute and Faculty of Actuaries through its subsidiary company, ICA 98 Limited has been granted permission to establish a representative office in Beijing.
2. The Institute and Faculty of Actuaries (IFoA) is a royal chartered, not-for-profit, professional body.
3. 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.
4. 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.
5. 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.
6. 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.