The 2024 Asian Actuarial Conference (AAC), organized by the Actuarial Society of Hong Kong (ASHK), began today at the Ocean Park Marriott Hotel in Hong Kong. Under the theme “Exploring the Future of Insurance and Beyond: Innovation, International Hubs, and Hong Kong,” this prestigious three-day event has drawn over 1,000 participants, including international experts, actuaries, and thought leaders from across Asia.
Opening Ceremony and Key Remarks
The opening ceremony featured key officials, including Mr. Joseph Chan, Under Secretary for Financial Services and the Treasury of HKSAR; Timothy Wong, President of ASHK; Stephen Yiu, Chairman of the Insurance Authority; and Daisy Ning, Head of Life & Health APAC ex China of Swiss Re. Timothy Wong highlighted the conference’s significance, stating, “This event is a vital platform for actuaries and insurers to gain insights into the evolving landscape of the profession. As the market changes rapidly, it’s crucial for actuaries to stay updated to unlock the full potential of actuarial science.”
Innovation and Opportunities in the Greater Bay Area
With the Greater Bay Area (GBA) emerging as a critical business and financial hub, this year’s AAC emphasizes the role actuaries can play in the region’s financial markets. As demand for financial planning and risk management grows, actuaries’ analytical and business expertise position them to support businesses in navigating complex challenges and future uncertainties.
Actuaries’ Role in Hong Kong’s Growth
Hong Kong’s recent introduction of the Risk-Based Capital (RBC) regime in July 2023, alongside the 2024 Policy Address, underscores the government’s focus on developing the insurance sector and attracting large enterprises. These initiatives aim to position Hong Kong as a global risk management hub, where actuaries will play a pivotal role in driving sustainable growth in the city’s insurance industry.
ASHK’s Commitment to Nurturing Talent
Simon Lam, Co-Chairperson of the AAC 2024 Organizing Committee, highlighted ASHK’s commitment to supporting talent development in the actuarial field. With a membership of 1,293, ASHK is well-prepared to meet the growing demand for actuarial expertise in Hong Kong and the Greater Bay Area.
Upcoming Sessions at AAC 2024
The conference will continue with key sessions on:
- Growth in emerging Asia
- Hong Kong as an international hub
- Regulation
- Artificial intelligence (AI)
- Blockchain
- ESG (Environmental, Social, and Governance) principles
The event will conclude with excursions to sites such as Hong Kong Science Park, Cyberport, and the Greater Bay Area, providing delegates an opportunity to experience Hong Kong’s innovation ecosystem.
About the Actuarial Society of Hong Kong (ASHK)
Founded in 1968, the Actuarial Society of Hong Kong has become the region’s leading professional body for actuaries. Governed by an elected council, ASHK plays a critical role in setting professional standards and fostering the growth of the actuarial profession in Hong Kong.
