GIC, ASG move to train actuaries for financial sector

 The Actuarial Society of Ghana (ASA) and the Gha­na Insurance College (GIC) have partnered with the Actuarial Society of South Africa (ASSA) to train actuaries for the financial and insurance sectors in Ghana and Africa.

The partnership was sealed during the launch of the ASG-AS­SA joint Actuarial Education Programme in Accra on Friday.

It was on the theme “Devel­oping the Next Generation of Actuaries in Africa”.

The Commissioner of Insur­ance, Professor Justice Ofori, said as the regulator of the insurance industry, where actuaries predom­inantly practised, the NIC saw the actuarial profession as part of the insurance business process.

“Training and empowering professionals with the right knowl­edge and skills-set is important for us as an industry regulator and that is why we fully support the ASG in this initiative,” he stated.

Prof. Ofori indicated that train­ing qualified actuarial professionals would impact positively on the insurance sub-sector and the econ­omy at large.

The President of the ASG, Neil N. A. Tagoe, said actuarial practice was crucial for the growth of the financial sector.

He said the education pro­gramme would help train the requisite actuarial human resource for the financial sector.

“The launch of the joint Actu­arial education programme is the pathway of ASG to help address the key challenges in both the sup­ply-side and the demand-side of the actuarial landscape in Ghana,” he stated.

The President of ASSA, Tjaart Esterhuyse, said since the estab­lishment of ASSA in 1948, the organisation had evolved to taking increased investment in the devel­opment of the actuarial profession in the rest of the continent in the public interest in line with ASSA’s strategy on public interest.

“This strategy has led to ASSA forging a strategic partnership with the ASG in developing the actu­arial education system in Ghana,” he stated.

Mr Esterhuyse said the part­nership was a great milestone in the development of the actuarial profession in Ghana and Africa at large.

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