A NEws from William Sue yahoo Group

Malaysia Needs Actuaries

Posted by MikeTheActuary under Actuarial , Insurance , Takafuls
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http://www.triskele.com/category/actuarial-musings/insurance/actuarial/

There have been some folks in the actuarial community in the U.S. who have been concerned about the threat of some of the profession's duties being outsourced to a hypothetical bumper crop of new actuaries coming in south or southeast Asia.

However, I wonder if those concerns might be a bit premature, given that The Star is reporting about a lack of credentialed actuaries available to support Malaysia's booming insurance and takaful industry:

More actuaries are urgently needed to ensure the successful implementation of the risk-based capital framework (RBC) and other regulatory policies in the insurance industry, Actuarial Society of Malaysia president Raymond Lai said. […]

According to Lai, of the 51 actuaries currently registered with the society, 42 are working in Malaysia. In the next five years, it expects to register 100 more actuaries.

He said the number of actuaries in Malaysia was very small compared with other countries. For example, Hong Kong had more than 1,000 actuaries and Australia about 3,000.