SOA President Visits the China Association of Actuaries

2015 President of the SOA, Errol Cramer and Vice President of the CAA, Wang He.

2015 President of the SOA, Errol Cramer and Vice President of the CAA, Wang He.

On April 29, 2015 the president of the Society of Actuaries (SOA) Errol Cramer and the SOA Executive Director, Gregory Heidrich, met with Wang He, Vice President of the China Association of Actuaries (CAA) and Secretary-General Wang Zheng.

During their visit, the CAA and the SOA discussed issues and priorities facing the actuarial profession in China and explored a variety of strategies to promote the development of the actuarial profession in China. Both associations’ leaders noted that there have been many changes in insurance markets in their respective countries and that the role of actuaries is critically important to the success of insurance enterprises. Both also noted the importance of education and research in the development of the critical business skills actuaries require to be most effective and discussed a variety of ways in which they might work together in these areas.

The leaders discussed that, in addition to this visit by the SOA President to China, the President of the CAA, Dr. Chen Dongsheng, has been invited to address the SOA Board of Directors to discuss developments in China and the work of the CAA. The leaders agreed to continue working together to build a strong and cooperative relationship and understanding that will be mutually beneficial to both organizations.

“As we continue to grow in our ability to provide professional development, education, and research opportunities for our members and students in China, the SOA also wants to build a strong relationship with the CAA,” said SOA President Errol Cramer, FSA, MAAA. “We share common interests and a desire to see actuaries recognized as leading professionals in the measurement and management of financial risks. Meetings like these are instrumental to building an effective partnership and the SOA looks forward to hosting CAA leaders in the U.S. next month.”

In addition to this important visit, the SOA leaders also met with leaders and representatives of the Insurance Institute of China, the Insurance Association of China, and the China Beijing Insurance Research Institute, and hosted discussions with SOA members in Beijing and Shanghai.

 

 

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