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DW Simpson
07-08-2003, 03:21 PM
Actuaries shortage has negative impact on insurance firms (http://biz.thestar.com.my/news/story.asp?file=/2003/7/8/business/kpactuary&sec=business)

BY K.P. LEE
AN ACUTE shortage of qualified actuarial professionals could affect the implementation of a risk-based capital model for insurance companies as set out under the Financial Sector Masterplan.

The risk-based model that determines an insurer’s minimum capital adequacy ratio based on its risk profile would require the expertise of either an in-house or external consultant actuary, both of which are in short supply locally, said Actuarial Society of Malaysia (ASM) president Teh Loo Hai.

In an interview with StarBiz in Kuala Lumpur yesterday, Teh, who is also executive vice-president of Great Eastern Life Assurance (M) Sdn, said the current number of actuarial professionals was inadequate especially in view of the enhanced roles expected from them in the future, with the full implementation of the Financial Sector Masterplan.

He said although there were 44 insurance companies operating in Malaysia, there were only 38 qualified actuaries in the country –of which 28 were Malaysians – clearly demonstrating the extent of the problem. In contrast, Australia had 800 qualified actuaries, while over 5,000 of them were employed in Britain alone, he added.

Teh said Malaysia needed three times the number it had currently. “I think we could make use of at least 100 qualified actuaries immediately,” he said.

With an average of 2 or 3 new actuaries qualifying every year, however, the slow growth could stifle any plan to quickly introduce the increasingly globally-accepted prudential risk management standards as the norm into the local insurance industry.

According to Teh, recent changes in Bank Negara guidelines were already putting greater demands on the small number of actuaries in Malaysia.

He said the guidelines introduced after premium rates for some medical and health insurance products were found to be inadequate now required that those rates be certified by actuaries as a step towards greater risk mitigation and customer protection.

“Previously, only life insurers needed actuaries, but now with the new guidelines, even general insurance companies would need the services of an actuary,” he said, predicting that competition and customer protection would drive both regulators and more insurers to look at risk.

He said certain requirements like the certification that adequate general insurance reserves were maintained could be introduced, similar to practices in many other developed countries, but this was contingent on an adequate number of local actuaries.

He said the ASM was now working with Bank Negara to study the impact of introducing the risk-based capital model that would apply different capital requirements for different risk profiles based on an insurer’s business risk and asset structure.

Founded in 1978, ASM currently has 220 members and this year, the new executive committee is putting priority on four major areas - professional, communication, education and event.

JMO Fan
07-08-2003, 03:34 PM
it has been awhile, but I've sent my resume on several Malaysia jobs, never got a serious response

otoh, maybe it's the resume ... :oops:

kazh
07-08-2003, 05:55 PM
What were you expecting, a free interview trip? It seems that alone could cost more than they're likely to pay for a year's salary.

john
07-08-2003, 09:13 PM
I speak fluent cantonese. I wouldn't mind ending up in Chinese speaking country. What does "qualified" actuaries mean?

neofan
07-09-2003, 02:02 AM
What were you expecting, a free interview trip? It seems that alone could cost more than they're likely to pay for a year's salary.

Kazh, wake up and smell the coffee, these companies pay almost on par with the salary levels in the west. (IE: Some actuaries in China make over 1,000,000 Yuan a yr= $125K US with FSA and yrs of exp). Giving the cost of living and income tax rates (most are lower than in US and Europe), you actually end up getting more there. I saw an opening earlier in Qatar, $100,000, tax free with accomodations subsidized.

Malaysia, Singapore, HK, S.Korea, and Taiwan are newly industrialized nations in Asia with living standards almost on par with the west (Singapore is officially declared a developed state), India and others may be different stories but they're quickly catching up in terms of pay scale.

DW Simpson
07-09-2003, 09:47 AM
Qualified actuary means someone who has been admitted to a country's actuarial society(-ies) through their admissions process.

Guerilla poster
07-09-2003, 10:14 AM
The general rule of economics is they pay what they need to pay to attract the people they need. Sometimes I seriously doubt whether many people on this site have an understanding of economics - then they complain about actuaries not being respect in the business world. :roll:

JMO Fan
07-09-2003, 10:41 AM
20 years ago, while I was making $35k as a new ASA, the actuary at an affiliate in the Philippines was paid $1,000 a year. Admittedly, things could have changed a lot, and the Philippines is not Malaysia. However, a shortage of actuaries might indicate inability and/or unwillingness to pay enough. Many small firms 'get by' without an actuary, use others' rates.

Guerilla poster
07-09-2003, 10:44 AM
Undoubtably, 'need' can be qualified by a quantification. Agreed, if cost is too high, alternatives will be found or supply will increase driving down the price.

Gunner
07-09-2003, 12:17 PM
This may be interesting:

http://asm35.tripod.com/member/index.htm

Whatever.

Avi
07-09-2003, 02:01 PM
From above site:

Section 1 - Membership of the Society

Persons may be admitted into the Society in one of the four classes:-

Fellows;
Associates;
Student Members;
Observer Members.
Fellows, Associates and Student Members shall be entitled to vote, hold office, make nominations as per Article 9, Section 5.

Observer Members shall be entitled to be present at meetings of the Society, to present papers and to join in discussions at such meetings. They are not entitled to make nominations, to hold office and to vote.

Section 2 - Fellows

Any person who makes an application for admission as a Fellow of the Society by completion of the prescribed application form may become and remain a Fellow of the Society provided that person:-

Is a Fellow of the Institute of Actuaries in England, or the Faculty of Actuaries in Scotland, or the Society of Actuaries in America, or the Canadian Institute of Actuaries, or the Institute of Actuaries of Australia;
Is approved for admission to membership by the Executive Committee;
Is ordinarily resident in Malaysia, or in the opinion of the Executive Committee is familiar with Malaysian conditions; and
Has paid the prescribed entrance fee and subscription for the year.
Section 3 - Associates

Any person who is not qualified to be a Fellow of the Society who makes an application for admission as an Associate of the Society by completion of the prescribed application form may become an Associate of the Society provided that person:-

Is an Associate of the Society of Actuaries in America, or has passed examinations of any of the professional actuarial bodies as recognized for Fellow, which in the opinion of the Executive Committee are of equivalent status to the examinations which must be passed to become an Associate of that Society of Actuaries;
Is approved for admission to membership by the Executive Committee; and
Has paid the prescribed entrance fee and subscription for the year.
Section 4 - Student Members

Any person who is not qualified to be a Fellow or an Associate of the Society who makes an application for student membership by completion of the prescribed application form may become a Student Member of the Society provided that person:-

Meets at least one of the following minimum requirements:-
The applicant is a student member of a professional actuarial society or has passed at least one part or subject of the examinations of a professional actuarial society which has no class of student membership and is continuing to study for the other examinations of such society;
Is approved for admission to membership by the Executive Committee; and
Has paid the prescribed entrance fee and subscription for the year.

No mention of the CAS, even in the student section. There are no casualty actuaries in Malaysia?

Gunner
07-11-2003, 01:14 AM
@ 30 June 2003

Number of CAS-qualified actuaries (ACAS/FCAS) in Malaysia = 0
(A search of the SOA member directory confirms this)

Number of CAS students in Malaysia = 3

Incredible Hulctuary
07-12-2003, 10:51 AM
Another likely reason why P&C insurance companies in third world countries can get by without actuaries is that litigation isn't a big industry in those countries, so many corporations tend not to bother to insure against it. And legal protection for employees like Workers Comp often doesn't even exist. As a result the P&C insurance companies may not have a big portfolio of long-term liability risks to calculate; they are more focused on the short-term property policies like auto, fire and flood. The asbestos claims that are terrorizing American insurance companies now could never happen in Malaysia or Pakistan.

And even with those short term risks, they probably don't utilize a large number of factors to calculate the risk of the individuals. When I was living and working in the Caribbean, to give me an auto insurance quote all they wanted to know was the number of years I had a license, my gender, the claims I made with prior insurers, and the value of the car, with the car's value being the predominant factor. None of that extra stuff like credit history, speeding tickets, the neighborhood I lived in, the color of the car, my income, my education and profession, how many children I have, my report card from second grade, the length of my big toenail, etc. Insurance there is mainly to provide repair or replacement for your car (or the car of the person you hit), not to protect against lawsuits that follow an accident, whereas in the US the collision/comprehensive coverage is dwarfed by the liability coverage.

[Edited to add "P&C" in the first sentence.]

Wigmeister General
07-15-2003, 02:54 PM
Also, insurance is not competitively priced in the 3rd world. Either you buy it or you don't. Therefore, no one is concerned with the "right" price, because they are selling it way above expected losses.

Guerilla poster
07-16-2003, 07:57 AM
First of all, I don't think Malaysia is third world by any stretch of the meaning of this word. Second, as in the article there are 44 insurance companies - you don't think this leads to a competitive environment?

Third, many of these countries have a British type legal system in place. At least this is true in Malaysia, not sure about Pakistan. So an abestos would be as likely as it is in the UK or Canada. I think it can happen but the rest of the world is not run by lawyers like the US.

Wigmeister General
07-16-2003, 11:34 AM
First of all, I don't think Malaysia is third world by any stretch of the meaning of this word. Second, as in the article there are 44 insurance companies - you don't think this leads to a competitive environment?

Third, many of these countries have a British type legal system in place. At least this is true in Malaysia, not sure about Pakistan. So an abestos would be as likely as it is in the UK or Canada. I think it can happen but the rest of the world is not run by lawyers like the US.


Regarding Malaysia, I stand corrected (sort of):

http://www.cia.gov/cia/publications/factbook/geos/my.html

Ponderer
07-30-2003, 05:05 PM
What is the earning potential for an America-trained FSA in Malaysia?

What is the earning potential for a locally-trained FSA in Malaysia?

Wigmeister General
07-30-2003, 05:29 PM
Claude,

Tell us what Malaysian actuarial opportunities are available.

DW Simpson
07-31-2003, 11:40 PM
Our Asia/Australia recruiter just went on holiday this week. I sent some questions her way, and hopefully she'll have some answers for me when she gets back next week or the following week.

Packet_Storm
08-06-2003, 01:56 PM
What about spanish speaking countries?

How does one search for jobs outside of the USA? I would love to work out side of the US for a bit and then come state side after a couple more exams.

DW Simpson
08-06-2003, 02:15 PM
We occasionally have positions in Puerto Rico, Mexico, Brazil (Portuguese) and other areas of Latin/South America, but clients almost always are looking exclusively for designated actuaries.

Ponderer
08-21-2003, 03:59 PM
So, Claude, did you hear back from your Asian counterpart w.r.t. the salary expectation in Malaysia?

DW Simpson
08-24-2003, 12:18 AM
I think my message may have been buried in her to-do pile when she returned from vacation. I'll try again.

Gunner
08-25-2003, 01:19 AM
In Malaysia, insurers only need 1 FSA (a regulatory requirement), and this applies only to life insurers. Anything more (eg another FSA or a casualty actuary) is usually not necessary as it would only incur more expenses. The article does not highlight this sort of regressive mentality, as we can see in other countries how insurers employ more than one qualified actuary.

Malaysia still lags in actuarial development, especially in the property/casualty side which is nearly non-existent - bar the few consulting firms that offer such services. Most expatriates would go into international consulting firms or reinsurers if they worked in Malaysia.

Regarding compensation, FSAs who become an insurer's Appointed Actuary (the regulatory requirement) should expect to draw above RM 200K annually (which translates to only a little above USD 50K - Not very attractive I must say). FSAs who take on higher positions (CEO, COO etc) should expect more but that depends on individual companies.

One last thing to note - Of the 44 insurers in Malaysia, only about 15 or less are life insurers (The rest are PC companies) - and these 15 are the ones that are required to have an FSA working for them. So the 'acute shortage' of actuaries in Malaysia is actually overblown as long as companies remain backward thinking in employing only one qualified actuary because of regulatory requirements.

Incredible Hulctuary
08-25-2003, 07:43 AM
In Malaysia, insurers only need 1 FSA (a regulatory requirement), and this applies only to life insurers.

It's amazing how so many regulatory minimums tend to become maximums in practice.

DW Simpson
08-26-2003, 02:25 PM
So, Claude, did you hear back from your Asian counterpart w.r.t. the salary expectation in Malaysia?

She was a bit uncomfortable being tied to a range, but did offer that UK actuaries that she placed there in the past were at a similar level to what they had been paid in the UK. But she said it really depends on the situation, considering that the costs of living vary greatly, and that it depends more on the value of the employee to the company, rather than the number of years of experience.

My interpretation is that there are so few actuaries there that the coefficient of variation for compensation is greater than it would be in a country with several times more actuaries, and that it's only determinable on a case-by-case basis. Sounds like a non-answer, but that's the best I got.

DW Simpson
08-28-2003, 12:53 PM
She was able to further narrow it down by suggesting that Malaysian actuarial salaries are, roughly, around 75% of what they are in the UK. And UK actuarial salaries are less, on average, than US salaries.

Wigmeister General
08-28-2003, 05:00 PM
Too bad about the salaries. I guess I won't be going to Malaysia. :crying:

Ponderer
09-02-2003, 03:41 PM
Claude,

Is your 75% figure pre- or post- currency conversion? "UK actuary's salary is generally lower than the US counterpart," again is this a dollar-for-dollar comparison or after currency conversion?

DW Simpson
09-02-2003, 03:52 PM
I'm not sure I follow you, but I'm probably being dense. In order to compare Malaysian salaries to UK salaries, you would have to convert one of them to the other's currency, and then compare the two. If you're asking whether they're renormalized for currency changes over some period of time, say 1 year, no I'm not suggesting anything that scientific was attempted. The 75% is simply saying that two actuaries, one in the UK and one in Malaysia, at the same level of experience, the Malaysia actuary is making, roughly, 75% of what the UK actuary is making. That is not adjusting for cost of living differences, as I haven't looked up what it costs to live in Malaysia.

Same comparison holds for my statement about UK and US salaries. I'm just saying that if you convert both of them to the same currency, roughly speaking, US actuaries make more, but that says nothing about how much it costs to live in either place, nor does it say anything about currency changes over some period of time.

Guerilla poster
09-03-2003, 11:21 AM
One may want to consider the tax situation as well. I expect Malaysian taxes are lowe rthan US taxes I could be wrong,plus you get the US tax exclusion - probably does not make up for the more than 25% difference. But I don't think one takes a job in Malaysia for purely financial reasons.

citizen kane
09-05-2003, 12:06 PM
We occasionally have positions in Puerto Rico, Mexico, Brazil (Portuguese) and other areas of Latin/South America, but clients almost always are looking exclusively for designated actuaries.

Claude, what do you mean by designated actuaries? Actuaries that are designated in that country, hence most likely their work experience is in their local market?

In other words, a brazilian client would look for a brazilian certified actuary to be their desiganted actuary, or a FAS/FCAS willing to be their designated actuary (regardless of local certification)?

DW Simpson
09-05-2003, 12:18 PM
Usually the latter, an ASA/FSA/ACAS/FCAS or FIA or FFA or AIAA/FIAA or FCIA or ...

It depends on the country (how the rules work there, ...), the client (why do they want this actuary? will they be reporting to a US/British/Australian/etc. actuary? ...), and other constraints.

Many of the South American/Latin American countries have a university-based actuarial designation system, but that doesn't preclude a client from saying they want either someone locally-designated or someone with another universally-recognized designation.

Lack of a formal mutual recognition charter between two countries doesn't necessarily prevent informal mutual recognition, depending on what it is that they're doing. If they're not signing anything, and the company is simply looking for experience and knowledge, then the constraints come down to visas, relative compensation, the more basic stuff.

DW Simpson
09-09-2003, 09:14 AM
We just received an opening for a life actuary in Malaysia (http://www.dwsimpson.com/asia.html).

Efendi Makmur
09-11-2003, 10:16 AM
Claude, Do you have any idea what the Indonesian job market for Actuarial is?

I am an Indonesian with 4 exams, yet I have difficulty getting a job in Asia even I am willing to travel.
Is it a bad sign??

Happy Extinction
09-11-2003, 10:28 AM
Kill the MALAYSIAN PRIME MINISTER!

http://www.atthemovies2001.com/images/zoolander/1.jpg

Wigmeister General
09-11-2003, 10:37 AM
Kill the MALAYSIAN PRIME MINISTER!

http://www.atthemovies2001.com/images/zoolander/1.jpg

I think this post belongs in the political section.

DW Simpson
09-11-2003, 11:39 AM
Claude, Do you have any idea what the Indonesian job market for Actuarial is?

I am an Indonesian with 4 exams, yet I have difficulty getting a job in Asia even I am willing to travel.
Is it a bad sign??

We have no Indonesian jobs currently. Our Asia Pacific recruiter is coming into the office next week, and when she does I will specifically ask her what she knows about Indonesia.

Efendi Makmur
09-12-2003, 12:49 AM
Thank you Claude. I appreciate it alot.
Since I have been looking for jobs in Singapore and Indonesia, so far, I havent received any good news.

DW Simpson
09-22-2003, 12:43 AM
Unfortunately, she told me that she really doesn't know a lot about the Indonesian actuarial market, at least for now. She plans to look into it.

DW Simpson
02-24-2004, 02:00 PM
http://www.theedgedaily.com/article.cfm?id=28725

Insurance industry needs to double number of agents
8.08pm

The insurance industry needs to at least double the number of agents for the number of insured persons to match that of developed countries, says the General Insurance Association of Malaysia (PIAM).

Its chairman Anuar Mohd Hassan said the current 139,000 registered agents were not sufficient to support the industry premium income growth.

In the first half of 2003, the industry’s premium income grew by 11.5% to RM8.7 billion over the previous corresponding period. In 2002, the premium income posted an annual growth of 14.3% to RM16.8 billion.

Anuar said a rewarding career in the insurance industry was not confine only to selling policies.

"Insurance combines the collective knowledge of underwriters, actuaries, statisticians, financial advisers, investment consultants, economists and human resource managers," he said yesterday after the launch of a video compact disc on career opportunity in the insurance industry.

Anuar said there was also an acute shortage of actuaries.

Wigmeister General
02-24-2004, 02:49 PM
For the right deal, I'll go to Malaysia.

ACCtuary
02-25-2004, 05:15 PM
In contrast, Australia had 800 qualified actuaries, while over 5,000 of them were employed in Britain alone, he added.

Unless I misread something, This is a nice trick if you can pull it off. So, Australia is cloning actuaries, eh?

Fenton
02-25-2004, 05:26 PM
Maybe I'm missing something, but why Malaysia of all places? I have nothing against hot, humid, corrupt, Islamic nations, but why is thread getting so much attention?

DW Simpson
02-25-2004, 05:29 PM
I add Malaysian actuarial news when I see 'em.

SMOKIN' ACTUARY
02-25-2004, 05:33 PM
Personally I am waiting for an actuarial opportunity in Djibouti.

DW Simpson
02-25-2004, 05:42 PM
Personally I am waiting for an actuarial opportunity in Djibouti.

African actuarial jobs are generally in South Africa, Kenya, Egypt and Tiramisu.

Modeler
02-27-2004, 01:36 AM
Personally I am waiting for an actuarial opportunity in Djibouti.

African actuarial jobs are generally in South Africa, Kenya, Egypt and Tiramisu. :-?
http://www.heavenlytiramisu.com/whatisit.htm
Tiramisu is a cool, refreshing Italian dessert that once tasted, leaves an indelible impression on you.
Actuaries optional! :D

Apollywog
02-27-2004, 01:45 AM
I'm not sure I follow you, but I'm probably being dense. In order to compare Malaysian salaries to UK salaries, you would have to convert one of them to the other's currency, and then compare the two. If you're asking whether they're renormalized for currency changes over some period of time, say 1 year, no I'm not suggesting anything that scientific was attempted. The 75% is simply saying that two actuaries, one in the UK and one in Malaysia, at the same level of experience, the Malaysia actuary is making, roughly, 75% of what the UK actuary is making. That is not adjusting for cost of living differences, as I haven't looked up what it costs to live in Malaysia.
Same comparison holds for my statement about UK and US salaries. I'm just saying that if you convert both of them to the same currency, roughly speaking, US actuaries make more, but that says nothing about how much it costs to live in either place, nor does it say anything about currency changes over some period of time.

CHEAP. I can find you some statistics since I know some accountants with one of the big 4 there but living cost is definitely more than 25% lower compared to UK so a salary of 75% of the UK market must be a very good pay in Malaysia.

DW Simpson
06-23-2004, 04:19 PM
http://www.emedia.com.my/Current_News/NST/Sunday/Features/20040606085922/Article/indexb_html

Courses that are hottest in demand in the pure sciences in UKM are Actuarial Science, Biotechnology ...

DW Simpson
09-20-2004, 12:22 PM
Life as a Malaysian actuary (http://www.soa.org/ccm/content/research-publications/library-publications/the-future-actuary/life-as-a-malaysian-actuary/)

Packet_Storm
09-22-2004, 02:25 PM
We occasionally have positions in Puerto Rico, Mexico, Brazil (Portuguese) and other areas of Latin/South America, but clients almost always are looking exclusively for designated actuaries.

Did you say PUERTO RICO?

DW Simpson
09-22-2004, 04:38 PM
We occasionally have positions in Puerto Rico, Mexico, Brazil (Portuguese) and other areas of Latin/South America, but clients almost always are looking exclusively for designated actuaries.

Did you say PUERTO RICO?

Yup, we do occasionally work on PR actuarial jobs.

Bernoulli
09-27-2004, 11:22 PM
American boss: “So, which actuarial function are you primarily responsible for?”
Me: “I’m the profit manager, but I help out on pretty much everything.”
American boss: “Everything meaning what?”
Me: “You know, pricing, embedded value, reserve adequacy, experience studies, cash-flow projections, organizing weekend trips to Thailand…”
American boss (looking very perturbed): “Wow. Weekend trips to Thailand, eh? That’s an actuarial function in Malaysia?”
Me: “Yes, it’s sort of my unofficial actuarial specialty.”



Weekend trips to Thailand? Where do I apply?

solarv
11-02-2005, 02:26 AM
kool...nice thread...I was working for Great Eastern Life Assurance Company ofr a while...It was a great place to work..the environment was pretty kool. They have thier own corporate building with 4 storey shopping complex in the building (lots of restaurants, bookstore, CD record store, gym, spa, grocery store, pet store, starbucks)....all the actuarial people work on the top floor with tight security...seems very kool...you can easily see the board of directors once in a while...

I'm missing the place now...I may try to apply for a job there again i think....or may be somewhere in Malaysia...

67102902
11-10-2005, 06:42 PM
How is the entry-level actuarial job market in Malaysia and Singapore? I cant seen much jobs in their websites. How do actsci students in Singapore or Malaysia look for a job? Thanks.

solarv
01-16-2006, 08:02 PM
Try jobstreet.com, you may find some if you are lucky

Sifto
01-17-2006, 08:39 AM
what about job prospects in malaysia for lines of the actuarial profession other than Life and P&C? for example, pensions, health, investments..?

DW Simpson
01-17-2006, 11:22 AM
what about job prospects in malaysia for lines of the actuarial profession other than Life and P&C? for example, pensions, health, investments..?

Flipping through our database, in the last three years we've had a handful of pension and investment actuary and analyst jobs in Malaysia that we've worked on. So it's a small trickle, but those actuarial jobs are occasionally there.

DW Simpson
09-09-2006, 11:44 PM
http://www.nst.com.my/Current_News/nst/Sunday/Focus/20060910092120/Article/index_html

Insuring Life: A career as an actuary
10 Sep 2006

HAVE you ever come across an actuary ? If you say never, then you are probably not alone. This is because there are only around 50 qualified actuaries in Malaysia, and it may be difficult to bump into one.

In reality, actuaries in Malaysia play an active and vital role in the insurance industry providing valuable actuarial and financial advice to many companies. Most actuaries in Malaysia work in life insurance companies.

More...

DW Simpson
11-21-2006, 11:27 PM
http://biz.thestar.com.my/news/story.asp?file=/2006/11/21/business/16061492&sec=business

Bright year ahead for sector
By DALJIT DHESI

PETALING JAYA: With several mega projects ready for launch under the Ninth Malaysia Plan (9MP) coupled with the country's encouraging economic growth, the outlook for the insurance industry next year remains bright, according to industry players.

...

[Life Insurance Association Malaysia (Liam) president Ng Lian Lu] added: “There will be more opportunities for companies to be innovative in the principle-based regime but the industry must first demonstrate ability and discipline for self-regulation. With the pending introduction of Risk Based Capital regime in 2008, there will be significant increase in demand for professionals with specialised skills such as actuaries and risk managers.

More...

jensen
01-29-2007, 09:46 PM
kool...nice thread...I was working for Great Eastern Life Assurance Company ofr a while...It was a great place to work..the environment was pretty kool. They have thier own corporate building with 4 storey shopping complex in the building (lots of restaurants, bookstore, CD record store, gym, spa, grocery store, pet store, starbucks)....all the actuarial people work on the top floor with tight security...seems very kool...you can easily see the board of directors once in a while...

I'm missing the place now...I may try to apply for a job there again i think....or may be somewhere in Malaysia...

when did u leave GE? I have a friend still working there.

DW Simpson
05-25-2007, 10:17 AM
http://biz.thestar.com.my/news/story.asp?file=/2007/5/22/business/17793333&sec=business

More actuaries needed Three Days Ago
BY DALJIT DHESI

KUALA LUMPUR: 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.

He added that this was because there were a lot of processes, risks, stochastic modelling and other technicalities involved in the implementation of the RBC that only actuaries had the expertise to handle.

More...

solarv
07-24-2007, 02:10 PM
when did u leave GE? I have a friend still working there.

It was an internship. I left in end August 2004.

DW Simpson
11-06-2007, 12:42 AM
http://biz.thestar.com.my/news/story.asp?file=/2007/11/6/business/19385022&sec=business

While some players in the insurance industry are scouting around for talents and others are trying to retain their existing scarce pool.

According to industry players, this scenario is due to the entry of new players, coupled with the growing economy and ongoing mergers and acquisitions in the sector.

Manulife Insurance (M) Bhd president and chief executive officer Peter Robertson told StarBiz: “There is definitely a shortage of professionals in specialist areas, such as actuarial, underwriting and product development.

“The insurance industry is growing every year and, with the emergence of takaful companies, we are all looking for high-calibre people.”

More...

DW Simpson
03-21-2008, 02:45 PM
http://www.actuarialoutpost.com/actuarial_discussion_forum/showthread.php?t=133902

DW Simpson
10-03-2009, 10:54 PM
http://biz.thestar.com.my/news/story.asp?file=/2009/10/3/business/4824891&sec=business

campbell
10-04-2009, 04:27 AM
So what happened in 2006?

jensen
10-04-2009, 04:30 AM
So what happened in 2006?

Fled the country.

campbell
10-04-2009, 04:36 AM
....a one-time deal? They didn't keep fleeing?

jensen
10-04-2009, 04:39 AM
....a one-time deal? They didn't keep fleeing?

hahaha.. i dont know. But I do remember it was around that time when a lot of actuaries went to China. Prob we can verify if the number of actuaries in China surged that year.

campbell
10-04-2009, 04:41 AM
hahaha.. i dont know. But I do remember it was around that time when a lot of actuaries went to China. Prob we can verify if the number of actuaries in China surged that year.

Ah, that might make sense. Perhaps a whole office got transferred to China.