9 November 2021
The IFoA Foundation, the independent charitable arm of the Institute and Faculty of Actuaries, is expanding its scholarship programme in China and South-East Asia (CSEA). This follows a successful campaign led by Tan Suee Chieh, the IFoA’s Immediate Past President and Founding Patron of the IFoA Foundation. The programme was already a major initiative targeting £500k with £350k seed money being generously donated by Dr Patrick Sun Cheong Poon. We have been delighted to raise over £260k within the last quarter alone and have increased the fundraising target to £750k. This additional funding enables us increase the programme’s reach and help support students who might otherwise not have access to an actuarial career.
The CSEA scholarship programme aims to reach 1,000 students over the next ten years, providing an opportunity to help educate and support the next generation of actuaries. In addition to the scholarship funding, the Foundation will promote greater awareness of actuarial science in colleges and schools, especially targeting less developed CSEA regions.
Eligible students must be citizens or permanent residents in China and South-East Asia. They must be actively pursuing relevant degrees or masters’ programmes in the region at either IFoA accredited or non-accredited universities, and be working towards a career as an actuary. Students will also need to provide evidence of academic excellence and demonstrate how financial support will benefit their career goals.
Tan Suee Chieh said:
“It was an emotional and heart-warming exercise. Everyone was connected to the Foundation’s mission of “Actuaries supporting others” and felt a sense of commitment to the IFoA, the actuarial profession and the region. I am extremely touched and grateful for their goodwill, as these donations were given in the best spirit. I would like to thank especially Patrick Poon, Stuart Leckie and Garth Jones for their exceptional generosity.”
Kartina Tahir Thomson, Chair of the IFoA Foundation, said,
“We have been overwhelmed by the response from the actuarial community in China and South-East Asia. These generous philanthropists have set a great example to the profession, taking on a real responsibility to support the next generation of actuaries and giving back at a time when many students are finding it difficult to fund their studies. Thank you to all those who have given their support, we are immensely grateful.”
A governance committee comprised of Kartina Tahir Thomson, Tan Suee Chieh and Grahame Stott, Chairman of the IFoA Management Board, will oversee the disbursement of the fund.
~ENDS~
Contact
Sonia Sequeira, Media Relations Manager, IFoA
Tel: 07525 592 198
Email: sonia.sequeira@actuaries.org.uk
Notes to Editor
- The IFoA Foundation is the independent charitable arm of the IFoA. It’s mission is ‘Actuaries Supporting Others’, with a vision to open doors for the next generation of actuaries and empower the profession to be transformative in addressing global challenges. The Foundation gives opportunity to actuaries and future actuaries from all backgrounds, celebrates excellence at the cutting edge of the profession and works in partnership to unlock solutions to critical priorities, from pandemics to climate change.
- IFoA Foundation China and South-East Asia Scholarship Fund
Roll call of IFoA Philanthropists supporting the CSEA Fund as of 30 October 2021
Patron and Chief Philanthropist (£350k and above)
Patrick Sun-Cheong Poon
Distinguished Philanthropist (£100k and above)
Stuart Leckie
Leading Philanthropist (£50k and above) \
Garth Jones
Principal Philanthropist (£10k and above)
Bryce Johns
Colin Pakshong
Tan Suee Chieh
Haijing Wang
Anonymous Donor
Major Philanthropist (£5k and above)
Jack Chye
Lim Kean Hin
Nishit Majmudar
Grahame Stott
Wan Saifulrizal Wan Ismail
Bronze Partner – Corporate category (£5k and above)
NMG Consulting
Senior Philanthropist (£3k and above)
Alistair Chamberlain
Frank McInerney
Raymond Ong
(Allen) Nhi Duc Thai
Michael & Shiuan Ting van Vuuren
Participating Philanthropist (£1k and above)
Robert Chen
Sean Deehan
Chris Hancorn
Heng Zee Wang
Richard Holloway
Khoo Kay Hwee
Khor Kee Eng
Koo Chung Chang
Abhishek Kumar
Wen Li
Trevor Matthews
Zainal Abidin Mohd-Kassim
Ng Chun Nam
Ong Kheng Heng
Philip Reynolds
James Richardson-Hay
Hitesh Motichand Shah
Xi Cynthia Yuan
Anonymous Donor
Anonymous Donor
Supporting Philanthropist (£500 and above)
Azim Mithani
Mark Stamper
Kelvin Yap
As at time of going to Press, £613,000 has been raised for the CSEA Fund from the above donors.
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 of London.
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 COVID-19 and its long term consequences, mortality, pensions, life and general insurance, health and care, finance and investment, climate change and sustainability, systems thinking, uncertainty and judgement, and risk management.