Hong Kong and Singapore Acknowledge the SOA's General Insurance Fellowship Track
National Association of Insurance Commissioners Confirm SOA Track as Accepted Actuarial Designation in the U.S.
Schaumburg, IL (June 18, 2020) – The Society of Actuaries’ (SOA’s) educational track on General Insurance (property and casualty) was recently recognized by both Hong Kong and Singapore regulators. The Hong Kong Insurance Authority and the Monetary Authority of Singapore have acknowledged fellows of the SOA with the General Insurance track as qualified actuaries in their respective markets.
In addition to this recognition in Asia Pacific, the U.S.-based National Association of Insurance Commissioners (NAIC) in 2019 affirmed the SOA’s General Insurance track as an NAIC-accepted actuarial designation following their comprehensive study of general insurance actuarial educators in the United States.
Established in 2012, the SOA’s General Insurance track is joined by the five other educational fellowship tracks in which actuaries can specialize. Through this recognition of the track, the SOA’s General Insurance fellows will be able to sign annual statements of actuarial opinion for their respective employers.
“We are glad to have the Hong Kong Insurance Authority and the Monetary Authority of Singapore recognize the education that actuaries gain through our General Insurance fellowship track,” said Simon Lam, FSA, chair of the SOA’s Greater Asia Committee . “We look forward to continue our work with the employers, academics and actuaries in the region on property and casualty insurance and other key topics of interest.”
The Hong Kong Insurance Authority noted that “this will be a positive step supporting the growth of general insurance actuarial talents in Hong Kong.” They noted “this examination pathway may act as a catalyst to develop more general insurance actuarial resources in the Hong Kong market.”
Trinity Pong, FSA, CERA, general insurance practitioner and frequent SOA volunteer noted, “I’m proud to see that Hong Kong’s regulatory body has recognized the SOA’s General Insurance track, and for SOA fellows to be able to sign actuarial opinions for their employers and clients.”
About the SOA
With roots dating back to 1889, the Society of Actuaries (SOA) is the world’s largest actuarial professional organization with more than 31,000 actuaries as members. Through research and education, the SOA's mission is to advance actuarial knowledge and to enhance the ability of actuaries to provide expert advice and relevant solutions for financial, business and societal challenges. The SOA's vision is for actuaries to be the leading professionals in the measurement and management of risk. Visit soa.org.