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Life Assurance Committee

 

Overview

The committee considers and makes recommendations to Council on matters relating to the financial soundness of Life Assurers.

The committee’s scope is life insurance actuarial work performed by actuaries in general, and by statutory actuaries in particular in terms of the Long-term Insurance Act.

Objectives

The main objectives of the committee include the following:

  • Actively support the development and thought leadership of actuarial practice in the areas where actuaries apply actuarial techniques and theory in the Life Insurance industry through the development of Professional Guidance Notes, the provision of CPD events, and the facilitation of research activities.
  • Contribute to the strategic direction of the Actuarial Society from the perspective of Life insurance and, in so doing, to support the Actuarial Society brand promise of “thought leadership”.
  • Provide input to the Financial Services Board in order to influence legislation affecting long-term insurers.
  • Provide high-level support for the Actuarial Society’s education initiatives in relation to Life insurance.

Committee members

The committee consists of:

  • An actuary (preferably the Statutory Actuary) from:
    • each of the 5 largest typical SA Life insurers;
    • each of the 5 largest (in terms of the number of statutory actuary appointments / life clients) actuarial consultants / auditing firms in SA;
    • one of the SA reinsurers. 
  • An accountant representing SAICA, who is a member of SAICA’s Long-term Insurance Project Group; and
  • The Chief Actuary (or another actuary from the Insurance Department) of the FSB.

There is scope for one or two other highly competent/talented actuaries with life experience to be invited to join the Life Assurance Committee.

The committee members are as follows:

Committee member   Position           
 Andy Rayner

 Chairman

 Barry Laggar
 
 Carike Nel
 Secretary
 Christiaan Ahlers
 FSB representative
 Christiaan Nel
 
Colin van Zyl
 
Craig Falconer
 
David Jewell
 
Gerdus Dixon
 SAICA representative
Jason Cooper -Williams
 
 Nicky Patchett
 
 Niel Fourie
 ASSA representative
 Peter Tripe
 
Peter Withey

Wynand Louw

 

Reporting

The committee maintains minutes of its meetings and presents quarterly reports to Council. For information on these, contact Niel Fourie: nfourie@actuarialsociety.org.za

Contact information

You can contact Andy Rayner at andyr@discovery.co.za

Useful links

Information on practising certificates is available under Professional matters.

Professional guidance:
Series 100 - Life Offices Standards of Actuarial Practice and Advisory Practice Notes

Visit the past presentations page for Life Assurance papers and presentations from past professional events of the Actuarial Society.