| CPD Declaration Form | Professional Conduct Code (PCC) | Professional Standards (PS) | Actuarial Guidance Notes (AGN)

To maintain a high level of professionalism among members, the ASHK regulates actuarial practice of members by issuing By-Laws, professional standards and actuarial guidance notes.

ASHK By-Laws
ASHK By-Law (1) : Due Process for the Development of Professional Standards and Guidance Notes
A revised due process for development of professional standards and actuarial guidance notes was approved as a By-Law of the ASHK in the Council Meeting on 17 January 2011. This minimizes the time length for passing of professional standards and actuarial guidance notes and puts the ASHK operations more in line with international practices.
ASHK By-Law (2) : Continuing Professional Development ("CPD")

The ASHK Council called an Extraordinary General Meeting (EGM) on 21 January 2016 to seek members' approval on the adoption of new CPD requirements.  The proposed resolutions as set out in the EGM Notice have been duly passed by way of poll.  This CPD By-Law therefore serves as the new CPD requirements starting from calendar year 2016 and applies to all non-retired Fellow and Associate members of the ASHK.

In addition, Institute and Faculty of Actuaries (IFoA)'s Regulation Board has recognised the ASHK's CPD Scheme as equivalent to the IFoA's CPD arrangements and added our Scheme to their list of recognised International Actuarial Association bodies in Schedule 5 of the IFoA's 2016/2017 CPD Scheme.

CPD Declaration Form

Completed CPD Declaration Form should be sent to Actuarial Society of Hong Kong by end of every calendar year:

Address: 1803 Tower One, Lippo Centre, 89 Queensway, Admiralty, Hong Kong
Tel:          (852) 2147 9278
Fax:         (852) 2147 2497

 

•  Frequently Asked Questions (Updated on Oct 2016)
Professional Conduct Code (PCC)

• Professional Conduct Code (Effective from 1 June 2017)

Professional Standards (PS)

  Professional Standard 1 (PS1) (Issued on 14 April 1993): This standard relates to the statutory duties of an actuary in relation to life insurance companies.  In particular it is for:

 •  actuaries appointed pursuant to Section 15 of the Insurance Companies Ordinance of Hong Kong;
 •  the actuary as a director or in any other position of authority in relation to an insurance company;
 •  the actuary as an external advisor or assessor.

  Professional Standard 2 (PS2) (Revised on and effective  23 December 2015): This standard applies to the preparation of actuarial certificates as required under Sections 15(e), 31(2) and 32(2)(b) of the Ordinance, as stipulated in section 2 of the Occupational Retirement Schemes (Preparation of Actuarial Certificates) Rules (Cap. 426 sub leg. H) and in accordance with Section 2 of the Occupational Retirement Scheme (Periodic Certification of Registered Defined Benefit Schemes) Rules (Cap. 426 sub leg. I).
Actuarial Guidance Notes (AGN)

 

AGN 3: Additional Guidance for Appointed Actuaries (Revised on 23 October 2002)
Actuarial Guidance Note - Supplement to AGN 3 Additional Guidance for Appointed Actuaries 
(Effective 1 January 2013)
Actuarial Guidance Note - Second Supplement to AGN 3 - Additional Guidance for Appointed Actuaries - Additional Guidance for Determination of the Valuation Interest Rate
(Effective 17 November 2014)
AGN 4: Outstanding Claims in General Insurance Note on Professional Practice (Effective from 1 January 2017)
AGN 5: Principles of Life Insurance Policy Illustrations (Effective from 17 June 2013)
AGN 6: Continuing Professional Development (Following a review by the Professional Matters Committee, and a decision by Council on 19 Nov 2013, AGN 6 has been withdrawn)
AGN 7: Dynamic Solvency Testing (Effective from 31 December 2016)
AGN 8: Process for Determining Liabilities under the Guidance Note on Reserving Standards for Investment Guarantees as issued by the Office of the Commissioner of Insurance (Following a review by the Life Insurance Committee, and a decision by Council on 21 Feb 2011, AGN 8 has been withdrawn)
AGN 9: Actuarial Guidance Note - Best Estimate Assumptions (Effective 1 April 2016)
Appendix A to AGN 9 - Participating and Universal Life Business Benefit Illustration Assumptions
(Effective 1 April 2016)
 
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