March 23, 2018 | version française

The Association Marocaine des Actuaires Hosts the 5th African Actuarial Congress in Casablanca

The 5th African Actuarial Congress (AAC) was hosted by the Association Marocaine des Actuaires (AMA) with the support of the IAA’s Africa Subcommittee of the Advice and Assistance Committee, under the High Patronage of His Majesty King Mohammed VI.

The AAC, held on 15-16 March 2018 in Casablanca, was themed Financial Development in Africa: Expertise and Public Interest. Recognized at the international level as an essential function in the decision-making process in the insurance, social security, financial services and banking sectors, the actuarial profession is now at the heart of governance with a major role in guaranteeing the financial sustainability and consumer protection of financial institutions.

To this effect, the Congress schedule included participation of national and international experts as well as industry leaders to take stock of the profession’s evolution and explore its future prospects through plenary sessions and presentations on topics such as: The actuarial profession in a changing world; Insurance Regulation and the Development of the Insurance Industry in Africa, to name a few.

Mr. Mohammed Boussaid (not pictured), Minister of Economy and Finance, Mr. Hassan Boubrik (pictured 2nd from left), President of the Insurance Control and Social Welfare Authority (ACAPS), Mr. Mohammed Hassan Bensalah (pictured 2nd from right), President of the Moroccan Federation of Insurance and Reinsurance Companies (FMSAR) and Mr. Masaaki Yoshimura (pictured far left), President of the International Actuarial Association, opened the event that had more than 250 attendees from 28 countries, including 17 African countries.

Mr. Mohamed Amrani (pictured far right), President of the Association Marocaine des Actuaires, said “I am pleased that the 5th AAC served as a platform for reflection on the evolution of the actuarial profession in Africa and our achievements, but also on where the profession was headed. Indeed, the actuarial profession aspires to be more involved and associated with the future economic outlook on the Africa continent."

President Yoshimura said “Africa is a continent of great opportunities in insurance, pensions, social security, and many other fields where actuarial skills are in great demand; this trend will only continue to increase over the next years. The IAA stands ready to assist our existing member associations and newly formed associations in Burkina Faso and Tunisia to join the international actuarial community.” He later made a presentation on the activities of the IAA, focusing on the important relationships with supranational organizations that the IAA has cultivated so far and stressed on the need to volunteer to participate in the IAA’s work to achieve the worldwide recognition of the actuarial profession.

The IAA Advice and Assistance through its Africa Subcommittee contributed support in the development of the Congress schedule and provided bursaries to 20 individuals from seven African countries. This activity contributes towards achieving the IAA’s strategic objective to 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.

To learn more about the work of the IAA Advice and Assistance Committee, contact the IAA  Secretariat.

Sundeep Raichura, Chairperson, Africa Subcommittee
Regulatory Panel Discussion