Advice and Assistance Developing Emerging and Existing Actuarial Associations
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1 ASSOCIATION ACTUARIELLE INTERNATIONALE INTERNATIONAL ACTUARIAL ASSOCIATION Advice and Assistance Developing Emerging and Existing Actuarial Associations IAA Strategic Plan 2008 Objective #4 Support the development, organization and promotion of the actuarial profession in areas of the world in which it is not present or is not fully developed 1
2 Table of Contents List of Possible IAA New Members....3 Current IAA Associate Members and Status of Associate Member 6 Upgrade to Full Member 2
3 Revised May 15, 2009 International Actuarial Association Advice and Assistance Committee Possible New Members of the IAA LATIN / SOUTH AMERICA Belize Need contacts. Bermuda May 2009 the A&A Committee initiated several contacts with actuaries in Bermuda specifically to discuss the potential for (and issues related to) creating a formal actuarial association on the island. Bolivia, Ecuador, El Salvador, Guatemala, Honduras, Paraguay, Peru, Uruguay Bolivia August 2008 ~ Javier A. Pomier - primary contact to discuss the possibility of creating of an actuarial association in Bolivia. Ecuador Has a new association. Rodrigo Ibarra-Jarrin was a bursary recipient for the Congress in Paris in April 13, 2006, invitation letter sent. April 20, 2006, he responded by saying that he will look at the documents. Costa Rica Indicated in March 2003 they were working towards establishing an association and hope to join the IAA shortly. May 4, 2006, invitation letter sent to Mr. Oscar Roldan. Central America Asociación Actuarial Centroamericana (Association is currently inactive. Alvaro Castro-Gutierrez to work with Lucia Ramirez Sanchez to try to reactivate the association.) At the IAA Fund meeting in Panama, in February 2005, there was a move to resurrect an association in Central America. Nicaragua Our contact is Carlos Alberto Neira. On May 5, 2006, invitation letter sent to the Instituto Nicaraguense de Seguridad Social. 3
4 ASIA China The IAA Secretary General, Mr. Yves Guérard represented the IAA at the launch of the China Association of Actuaries on May 9, 2008 in Beijing. Mr. Curtis Huntington has been designated by the Accreditation Committee to have particular responsibility for liaising with the CAA to ensure that the requirements for Full Membership of the IAA could be met as soon as possible. May 2009 Mr. Huntington provided assistance to the China Association of Actuaries. Bangladesh June 25, 2007, invitation letter sent. A.K.M. Elias Hussain, President of newly formed Actuarial Society of Bangladesh which has been registered under the Society s Registration Act by the Government of Bangladesh. Uzbekistan, Tajikistan, Kyrgyzstan None of these countries have any actuaries yet, with the possible exception of one interested person in Uzbekistan. Vietnam Ly Thanh Nhon, President of newly formed Vietnamese Society of Actuaries. Information package was sent in January AFRICA Mauritius January 5, 2006, sent information kit. Trying to get them to form an association. Sudan March 2007, Mohamed Mahmoud Awad requested assistance in the development of the actuarial profession in this country and expressed an interest in receiving an information kit. May 3, 2007 sent information kit. June 2007, an association has been formed in Sudan. Tanzania January 2007, information kit sent to Sandeep Chavda. June 2007, an association is about to be registered. Uganda June 2007, interested in forming an association. Contact: Mr. Kilameri Ivan, Uganda Insurance Commission. Zambia In the process of developing an association. Will apply for associate membership in the IAA once established. Bahrain (Middle East Association) MIDDLE EAST 4
5 Association is being established. Nothing seems to have happened on this and Ibrahim Muhanna and Chris Daykin have little expectation of any activity in the near future. Jordan A university in Amman has established an actuarial program, there is a diploma program running (or trying to run) and the regulator is very keen to get an actuarial profession established but it is difficult to find people of the right caliber to achieve any necessary qualification. Saudi Arabia August in the process of establishing an association. Sent information to David Clarke and Peter Morgans. EUROPE Belarus Invitation letter sent on November 11, 1999 to Professor Gennady Medvedev, President, Belarussian Actuarial Society. Follow-up sent October 14, Mr. Gennady Medvedev was a bursary recipient for the Congress in Paris. On May 4, 2006 invitation letter sent. Albania Albania has an Actuarial Committee, of which the Head is Arben Simaku. He attended the IAA Fund meeting in Warsaw in September 2006 and expressed an interest in IAA membership. Armenia, Azerbaijan Associations have not been established in these countries. Armenia. Mr. Arkadi Khachatryan was a bursary recipient for the Congress in Paris. May 4, 2006, sent invitation letter. Contact from Astghik Ararktsyan in November The Central Bank of Armenia has embarked on the formation of the Institute of Actuaries in Armenia. Isle of Man Sent to Gary Boal on May 8, 2000 introducing restructured IAA and inquiring about status of actuarial profession in Isle of Man. Received response on July 24 indicating no interest to join the IAA, given members belong to other member associations. Portugal April 2005, a second Portuguese association - Associação de Actuários Profissionais (AAP) was launched. March 29, 2005, invitation letter was sent. Contact is Luís Portugal, President of the new Association. The Instituto dos Actuários Portugueses is already a Full Member. Spain June Spain iss considering creating another association and that it would likely apply for Full Membership. 5
6 CURRENT ASSOCIATE MEMBERS & STATUS OF ASSOCIATE MEMBER UPGRADE TO FULL MEMBER Associate Member Country Admission Date Invitation Upgrade Letter Sent Considering Full Membership Action / Status Instituto Actuarial Argentino Argentina (This is unlikely to change the Consejo is the Full Member and the Instituto does not have a professional role) Association des Actuaires Benin 2008 Beninois Akruarsko Drustvo Bosnia and Herzegovina Institute of Actuaries - Cameroon Cameroon 2007 Sept. 3, 2008 sent info on full membership requirements. Instituto de Actuarios Matemáticos de Chile Chile 2006 Possible pilot project with Latin America subcommittee. A representative from CONAC (Mexico) will assist the Chilean association during its transition to full member status. Oct. 21, 2008, sent info on full membership requirements. Asociación Colombiana de Colombia Actuarios Association of Actuaries and Georgia Financial Analysists Actuarial Society of Ghana Ghana Actuarial Society of Kazakhstan Kazakhstan The Actuarial Society of Kenya Kenya 2008 April 2009, expressed an interest In progress 6
7 Asociation Luxembourgeoise des Actuaires. Macedonian Actuarial Association Macedonia Asociacion Mexicana de Actuarios, A.C. This association would like to remain associate member, since it is part of CONAC and CONAC is the full member. Mexico to upgrade to full membership. Secretariat requested that they submit a full membership application. Luxembourg 2009 October 2006, expressed an interest to upgrade to full membership. Asociatia de Actuariat din Moldova Moldova Nigeria Actuarial Society Nigeria Associación de Actuarios de Panama Panamá Asociatia Romana de Actuariat Romania January 2007 submitted full membership application in January Does not meet Education Requirements. Institute of Actuaries of Korea South Korea 1996 April 2009 letter was issued and on site assistance was provided to IAK. Actuarial Association of Sri Lanka Sri Lanka 2008 Türkiye Aktüerier Dernegi Turkey 2002 March 2009 a representative from the Eesti Aktuaaride Liit (Estonia) provided assistance. In progress In progress April 2009 a member of the Accreditation Committee reviewed IAK s governance documentation. IAK has been informed of the results of the review. April 2009 Secretariat rec d full membership application only. May 13 th recd Statutes. 7
8 Ukrainian Actuarial Society Ukraine Channel Islands Actuarial Society UK 2003 Functions effectively as a regional society of the Institute of Actuaries. It is not a separate professional body and will not be applying for full member status. Actuarial Society of Zimbabwe Zimbabwe
Argentina Bahamas Barbados Bermuda Bolivia Brazil British Virgin Islands Canada Cayman Islands Chile
Americas Argentina (Banking and finance; Capital markets: Debt; Capital markets: Equity; M&A; Project Bahamas (Financial and corporate) Barbados (Financial and corporate) Bermuda (Financial and corporate)
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