November 25, 2011
version française

Second African Regional Congress of Actuaries in Nairobi

The International Actuarial Association (IAA), through its IAA Fund and Africa Subcommittee of the Advice and Assistance Committee, supported the Second African Regional Congress of Actuaries in Nairobi on November 2–4. The congress was hosted by The Actuarial Society of Kenya (TASK). The IAA sincerely thanks TASK for hosting the meeting and for the support provided. It also gratefully acknowledges the financial support of the sponsor, Alexander Forbes.

A total of 121 people attended this event from Kenya and other African countries such as Tanzania, Uganda, Mozambique, Sudan, Nigeria, Benin, Togo, Ghana, Algeria and South Africa. In all, 14 African countries were represented, and actuaries from United Arab Emirates, Trinidad & Tobago, as well as several European countries, were also present. The IAA Fund provided bursaries for 18 participants.

The meeting was opened by the TASK Chairperson, James Olubayi, followed by a keynote address by the Commissioner of Insurance for Kenya, Sammy Makove, who emphasized the importance of the development of the actuarial profession for a healthy insurance industry. Speakers included Desmond Smith, President-Elect of the IAA; Chris Daykin, Chief Executive of the IAA Fund; Giovanna Ferrara, Chairperson of the Africa Subcommittee; Thierry Poincelin (France), Renata de Leers (Togo) and Sundeep Raichura (Kenya) from the Africa Subcommittee; Francisca Venter (South Africa); Professor Patrick Weke (Kenya); Themba Gamedze, President-elect of the Actuarial Society of South Africa; and Lusani Mulaudzi, President of the Association of South African Black Actuarial Professionals.

There were also presentations and workshops on the actuarial profession in Kenya, Ghana, Nigeria and non-English speaking Africa; embedded values for life insurers; developing mortality tables for Kenya; risk-based capital for African life insurers and investment of actuarial liabilities in Africa; and actuarial education in Africa.

This activity meets the objective of the IAA Fund, which is to stimulate and support the development of the actuarial profession and actuarial education in actuarially developing countries. To learn more about the work of the IAA Fund, contact its Chief Executive, care of the IAA Secretariat.

The International Actuarial Association (IAA) is the worldwide association of professional actuarial associations, with a number of special interest sections for individual actuaries. The IAA exists to encourage the development of a global profession, acknowledged as technically competent and professionally reliable, which will ensure that the public interest is served.
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