The Office of the Insurance Commission (OIC) has established a committee to screen actuaries in Thailand and decide on their licences.
The Unified Insurance Law, enacted earlier this month, allows the Financial Regulatory Authority (FRA) to license actuarial companies.
Artificial Intelligence may represent a major leap forward for the insurance industry, but it is very unlikely to replace actuaries, according to Mr Olusegun Omosehin, head of the National Insurance Commission (NAICOM). He added that NAICOM supports the federal government's goal of making Nigeria the AI hub for Africa.
The IRDAI has issued a Master Circular on Actuarial, Finance and Investment Functions of Insurers.
The Actuaries Institute says that it welcomes the cost-of-living relief and equity measures announced in the Federal Budget which was announced on 14 May.
Actuaries in Africa are eschewing the use of old mortality tables from other countries in favour of creating their own applicable ones, according to an article in the May 2024 edition of The Actuary, a publication of the London-headquartered Institute and Faculty of Actuaries (IFOA).
The London-headquartered Institute and Faculty of Actuaries (IFoA) is holding its inaugural Middle East Conference this month with two events - in Riyadh and Dubai.
The Institute and Faculty of Actuaries (IFoA) has appointed Mr Paul Sweeting as the next president-elect. He will assume the role on 24 July 2024 at the IFoA annual general meeting when Ms Kartina Tahir Thomson, the present president-elect, becomes president.
Insurers need to "think bigger" to develop a system-wide understanding of the challenges and cooperate on solutions, not just within the insurance industry but also by engaging the wider ecosystem, APRA executive board member Suzanne Smith has said.
The Actuaries Institute is calling for the annual Superannuation Performance Test to transition to a two-metric Test, so it better aligns with the overarching duty of super fund trustees to act in the best financial interests of their members.