IFoA signs MoU with the Insurance Asset Management Association of China

The Institute and Faculty of Actuaries (IFoA) has signed an MoU with the Insurance Asset Management Association of China (IAMAC) to further cooperation between the two professional bodies.

With both organisations being recognised as leading institutions in their respected industries, the MoU will establish a long term partnership which will place emphasis on collaboration and relationship building between the two bodies, with the aim of better serving members and the industry.

Colin Wilson, President of the IFoA, comments:

“I am delighted to be signing this landmark agreement with the Insurance Asset Management Association of China.  With many of our members working on the insurance asset management industry in China, this MoU reinforces the excellent relationship that exists between our two organisations, bringing China and UK financial professionals closer together.   The IFoA is looking forward to working with IAMAC on this important initiative to support our members in the region.”

Deyun Cao, Executive Vice Chairman and Secretary-General of IAMAC, said:

"IAMAC is pleased to be entering into this ground breaking agreement with the IFoA to further the insurance asset management industry in China.  Both professional bodies have much to bring to this partnership and we look forward to collaborating with the IFoA for the benefit of our members through this important initiative.”

~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 The Insurance Asset Management Association of China

The Insurance Asset Management Association of China (IAMAC) is a national self-discipline organisation in the Chinese asset management industry, which exists subject to the consent of the State Council of the People’s Republic of China, and the approval of the China Insurance Regulatory Commission (CIRC) and the Ministry of Civil Affairs of the People’s Republic of China (MoCA). It was opened by the Chairman of the CIRC. The purposes of the Association are: to form bridge between the asset management companies and regulators, exercise industry self-discipline, promote compliant operations and help to enforce market order.