The Actuarial Society of South Africa, is the governing body for the actuarial

Actuary

An actuary is a business professional who deals with the financial impact of risk and uncertainty. Actuaries provide expert assessments of financial security systems, with a focus on their complexity, their mathematics, and their mechanisms ....

 profession in South Africa

South Africa

The Republic of South Africa is a country in southern Africa. Located at the southern tip of Africa, it is divided into nine provinces, with of coastline on the Atlantic and Indian oceans...

.

Fellowship to the Society is now gained by passing the prescribed examinations of the Actuarial Society. This is a new development with the South African qualification in place from 2010. Fellowship was traditionally gained through exams written through other recognised actuarial organisations, mostly the Institute of Actuaries

Institute of Actuaries

The Institute of Actuaries was one of the two professional which represented actuaries in the United Kingdom . The Institute was based in England, while the other body, the Faculty of Actuaries, was based in Scotland...

 in London

London

London is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...

 or the Faculty of Actuaries

Faculty of Actuaries

The Faculty of Actuaries in Scotland was the professional body representing actuaries in Scotland. The Faculty of Actuaries was one of two actuarial bodies in the UK, the other was the Institute of Actuaries, which was a separate body in England, Wales and Northern Ireland...

 in Edinburgh

Edinburgh

Edinburgh is the capital city of Scotland, the second largest city in Scotland, and the eighth most populous in the United Kingdom. The City of Edinburgh Council governs one of Scotland's 32 local government council areas. The council area includes urban Edinburgh and a rural area...

. Fellows may add FASSA (Fellow of the Actuarial Society of South Africa) after their names. The FASSA qualification has mutual recognition with the Institute and Faculty of Actuaries, the Institute of Actuaries of Australia

Institute of Actuaries of Australia

The Institute of Actuaries of Australia , commonly referred to as the Institute, is an organisation representing the actuarial profession in Australia. The Institute has origins which trace back to 1897.- History :...

 and the Society of Actuaries in Ireland

Society of Actuaries in Ireland

The Society of Actuaries in Ireland is the professional body of Irish actuaries. The Society was founded on 3 May 1972 by seventeen members of the Institute and the Faculty of Actuaries residing in Ireland. Since then, the membership has grown to more than 1 000...

.

History

• The Actuarial Society of South Africa held its inaugural meeting on 22 December 1948.
• SA 56-62 Mortality Tables were published in 1966.
• The first annual Convention was held in Sea Point
  Sea Point
  Sea Point is one of Cape Town's most affluent and densely populated suburbs, situated between Signal Hill and the Atlantic Ocean, a few kilometres to the west of Cape Town's Central Business District . Moving from Sea Point to the CBD, one passes through first the small suburb of Three Anchor Bay,...
  
   in 1972.
• The first Murray Medal was awarded to Tom Murray in 1973.
• The JSE-Actuaries Index was launched in 1978.
• Volume 1 of the South African Actuarial Journal was published in 2001.
• The South African actuarial qualification launched formally on November 23, 2009.
• The Actuarial Society of South Africa hosted the 29th International Congress of Actuaries
  International Congress of Actuaries
  The International Congress of Actuaries is a conference held under the auspices of the International Actuarial Association every four years...
  
  from 7–12 March 2010; this was the first time the event was held in Africa.

Current affairs

• The current President is Peter Doyle and the President-Elect is Themba Gamedze.
• Over the past three years, the Society has transformed into a full service professional organisation, including the development of the local education system, and significant constitutional changes.
• There are now 12 people working for the Society in their secretariat.

Past Presidents of the Actuarial Society

By convention Actuarial Society presidents take office following the AGM at the Conventions, usually held in October or November. In 2001 their term was changed from one to two years and the office of Immediate Past President was abolished. In 2009, the President's term was changed so that the handover occurred at the end of the calendar year.

• 1948- D Spence-Fraser

• 1988-1989 Donald Fabian

• 1992-1993 Peter Milburn-Pyle
• 1993-1994 Mike Levett
• 1994-1995 Douglas Keir
• 1995-1996 Desmond Smith
• 1996-1997 Steve Handler
• 1997-1998 Reg Munro
• 1998-1999 Blignault Gouws
• 1999-2000 Paul Truyens
• 2000-2001 Mike Codron
• 2001-2003 Joubert Ferraira
• 2003-2005 Janina Slawski
• 2005-2007 Adrian Baskir
• 2007-2009 Garth Griffin

External links

• Actuarial Society official website