Actuarial Society of Malaysia

The Actuarial Society of Malaysia (Persatuan Aktuari Malaysia) was founded on 5th October 1978. We are the only representative body for the actuarial profession in Malaysia, and provide a platform for members of the actuarial profession to raise and discuss technical and public interest issues related to the practice of the profession; to communicate such issues to relevant parties including the public, industry regulators and corporate stakeholders; to provide educational support to actuarial students and professional development to qualified actuaries; and to provide space for members of the profession to build relationships.

On 20th October 2003, we became a Full Member Association of the International Actuarial Association. We are committed to working towards becoming a fully-fledged professional body with a recognised examination and accreditation system.

Learn More About Actuarial Society of Malaysia

ASM Council

The term of each council position is two years. Elections will be held at the Annual General Meeting (AGM) to determine new council members.

ASM Council 2019:

Ms. Sophia Ch’ng

Position
President

Company
Sunway University

Contact Information
president@actuaries.org.my

Mr. Kelvin Hii

Position
President-Elect

Company
MSIG Insurance Malaysia Berhad

Contact Information
president@actuaries.org.my

Mr. Daniel Nee

Position
Vice President

Company
AmGeneral Insurance Berhad

Contact Information
vicepresident
@actuaries.org.my

Ms. Lim Shu Yi

Position
Secretary

Company
Nicholas Actuarial Solutions

Contact Information
secretary@actuaries.org.my

Mr. Soo Wei Chern

Position
Treasurer

Company
MSIG Insurance Malaysia Berhad

Contact Information
treasurer@actuaries.org.my

Ms. Aiza Benyamin

Position
Professional Development

Company
Actuarial Partners Consulting

Contact Information
professionaldevelopment
@actuaries.org.my

Ms. Leong Poe Yie

Position
Communications

Company
AmGeneral Insurance Berhad

Contact Information
webmaster@actuaries.org.my

Mr. Logenthiran Kanisan

Position
Education

Company
MCIS Insurance Berhad

Contact Information
education@actuaries.org.my

Mr. Jason Cheok

Position
Events

Company
AmGeneral Insurance Berhad

Contact Information
events@actuaries.org.my

Ms. Nurliana Mat Lazim

Position
Auditor

Company
Bank Negara Malaysia

Contact Information
auditor@actuaries.org.my

Professional Development Sub-Committee 2019:

Ms. Aiza Yasmin Benyamin

Position
Life

Company
Actuarial Partners Consulting

Mr. Shizal Fisham Ramli

Position
Takaful

Company
Zurich Insurance Malaysia Berhad

Mr. Hung Kian Teong

Position
IFRS17

Company
Syarikat Takaful Malaysia Berhad

Mr. Tan Wee Keat, Kenny

Position
General

Company
AmGeneral Insurance Berhad

Mr. Kelvin Hii

Position
Discount Rate

Company
MSIG Insurance Malaysia Berhad

Mr. Muhammad Azrin Zulbahrin

Position
Auditor

Company
Etiqa Insurance & Takaful Berhad

Past ASM Presidents (Chronological Order)

Mr. Steve Wong (1979 – 1980)
Mr. Patrick Poon (1981 – 1982)
Mr. Adrian Waddingham (1983)
Mr. Alex Foong Soo Hah (1984 – 1986)
En. Zainal Abidin Mohd Kassim (1987 – 1988)
Mr. Tan Suee Chieh (1989 – 1990)
Mr. Thavanesan Karthigasu (1991 – 1992)
Mr. Vincent Kwo Shih Kang (1993, 1995)
Mr. Ng Keng Hooi (1994)
Y. Bhg. Dato’ Mohamed Hassan bin Md. Kamil (1996 – 2002)
Mr. Teh Loo Hai (2003 – 2004)
Mr. Lee Jiau Jiunn (2005 – 2006)
Mr. Raymond Lai You Kim (2007 – 2008)
Mr. Patrick Cheah Gim Guan (2009 – 2010)
Mr. Liew Pek Hin (2011 – 2012)
Mr. Yap Chee Keong (2013 – 2014)
Mr. Wan Saifulrizal Wan Ismail (2015 – 2016)
Mr. Gary Hoo (2017 – 2018)
Ms. Sophia Ch’ng (2019 – present)

Membership Classes

There are four membership classes under the ASM:
1) Fellow
2) Associate
3) Ordinary
4) Student

The requirements for each class are as follows:

Fellow
Fellow of one of the following:

  • Society of Actuaries (USA)
  • Casualty Actuarial Society (USA)
  • Institute and Faculty of Actuaries (UK)
  • Institute of Actuaries of Australia (Australia)
  • Canadian Institute of Actuaries (Canada)

Recommended by 2 Fellow members of the Society
Resident in Malaysia or deemed to be familiar with Malaysian conditions
At least 1 year’s experience in the Malaysian actuarial industry

Associate
Associate of one of the following:

  • Society of Actuaries (USA)
  • Casualty Actuarial Society (USA)
  • Institute and Faculty of Actuaries (UK)
  • Institute of Actuaries of Australia (Australia)
  • Canadian Institute of Actuaries (Canada)

OR
Passed examinations of any professional actuarial bodies to be recognized as Fellow, which is deemed to be at least equivalent to the examination requirements to become an Associate of the above actuarial bodies.

Ordinary

Satisfies one of the following:

  • Ordinary member of a professional actuarial body; OR
  • Passed at least 1 part/subject of the examinations of a professional actuarial body which has no class of Ordinary membership and is continuing to study for other examinations of the actuarial body; OR
  • Completed an actuarial course or other related statistical course in a university, college  or other academic institute and has achieved a qualification thereof; OR
  • Carrying out actuarial or other related work in a life or non-life insurance company, government office or actuarial consulting office.

Nominated by 2 members of the Society

Student

Nominated by 2 persons from the Society or principal/Head of Department of the college/university.
Does not meet the requirements for admission as Fellow, Associate or Ordinary member; OR meets the requirements but is not gainfully employed and chooses to seek Student membership
Has a declared interest in actuarial matters
Undergraduate/postgraduate student in an actuarial-related program

To apply to become an ASM member, please go to our Membership Application page

Society Statistics

As at 30 June 2019

Membership Breakdown by Class

ClassTotal
Fellow278
Associate134
Ordinary1603
Student94
Total2109

Membership Breakdown by Professional Body

Professional BodyTotal
Society of Actuaries2
Institute & Faculty of Actuaries4
Institute of Actuaries of Australia0
Casualty Actuarial Society0
Others2103
Total2109

Society Regulation

The ASM is a self-regulated body in Malaysia registered under the Registrar of Societies.

Constitution

The ASM Constitution can be downloaded here.

Professional Code of Conduct (PCC)

All ASM members are required to adhere to the Code of Conduct. The Code consists of basic ethics and principles that members are expected to abide by in carrying out their duties. The Code of Conduct (revised version effective 28 February 2014) can be downloaded here.

Continuous Professional Development (CPD)

All ASM Fellow members are required to fulfil a minimum number of CPD hours each year. The number of hours varies, depending on the professional role held. The CPD handbook for 2018 can be downloaded here.

Disciplinary Procedures

Disciplinary procedures have been put in place to uphold the integrity and professionalism of the society. The Disciplinary Scheme (effective 28 February 2014) can be downloaded here.