EWMI NEWS:
FEBRUARY 2008
CENTRAL ASIA: EXPANDING ACTUARIAL PROFESSIONAL SKILLS IN CENTRAL ASIA

As part of EWMI’s USAID-funded Partners for Financial Stability Program, the Actuarial Society of Kazakhstan (ASK) held its First Actuarial School in Almaty February 18 – 23, 2008 to deepen professional development for the actuaries in Central Asia and the Caucasus. This School provided exposure to contemporary methods and practices in insurance based upon the experience of the developed countries in Europe and the US. The First Actuarial School’s theme “Products and Rating in Non-Life Insurance: International Experience” provided an overview of the key issues related to the emerging insurance markets. Topics included insurance economics, health insurance, non-proportional insurance, premium rating in non-life insurance, enterprise risk management and economic capital, and non life employee benefit schemes.

EWMI invited leading actuarial and insurance experts from around the world to the School, and participants included 85 professionals from Kazakhstan, Kyrgyzstan Tajikistan, Uzbekistan, Georgia, Armenia and Azerbaijan. The week-long event provided timely support for professionals working in the insurance industry which is in its initial stage of development in these former Soviet Union countries. Improving the skills and expanding the knowledge of actuaries and risk managers will lead to a stronger capacity of insurance companies to expand their market penetration.