​Department of Finance Created New Achievements in Insurance and Actuary
Date: 2018-09-25

Recently, the results of "Munich Reinsurance Cup" 2018 Actuarial Mathematics Competition for College Students were released. Our students Lu Quanlin, Yang Ling and He Guanting stood out from nearly 1,000 candidates from all over the world and entered the TOP100 list. Among them, Lu Quanlin, junior student of the Department of Finance won the first place in Shenzhen competition area. The top 50 students in this "Munich Reinsurance Cup" competition were almost from top universities in Hong Kong, Beijing, Shanghai and other countries, such as the University of Hong Kong, Renmin University of China, Fudan University, Shanghai University of Finance and Economics and the University of New South Wales.

 

    Founded 138 years ago, Munich Reinsurance Company is one of the largest reinsurance companies in the world and engaged in life and non-life direct and reinsurance operations in more than 150 countries. In 2012, the "Munich Reinsurance Cup" was officially launched for global university students and has now become one of the most prestigious competitions in the insurance industry. Internship opportunities, cash rewards and honors of the competition attract students from the world's leading universities such as the Australian National University, University of New South Wales, University of Hong Kong and Central University of Finance and Economics. The fact that the Department of Finance first participated in the competition, and its senior undergraduate in the third grade won the first place in Shenzhen competition area is inseparable from its teaching philosophy based on the industry and global convergence as well as the system of four actuarial education and training programs.

 

    Coincidentally, students from SUSTech Department of Finance also achieved impressive results in the Society of Actuary (SOA) exam. Fifteen students of the Department took the P exam, the first course in the Associate of Society of Actuaries (ASA) phase of SOA, 13 of whom have passed it and would continue to take the ASA exams. Six students took the FM exam, its second course and all have passed it.

 

    The Department is preparing for setting up the insurance actuary major to follow the educational concepts of the world's top business schools and for graduates to take root in enterprises to analyze and solve practical problems. We have vigorously recruited overseas elites who have more than 10 years of senior management experience in the actuarial industry as teachers. Also, we have designed and developed a systematic teaching system. We averagely hold 2-3 actuarial lectures each month, and have invited industry biggies from Ping An Life Insurance and Evergrande Life Insurance to give lectures on the SOA examination system, and also invited the executives of China Association of Actuaries, Funde Insurance, China Merchants Life Insurance Company Limited, France Reinsurance, Munich Reinsurance to give lectures, allowing students to conduct regular face-to-face communication with senior actuaries in the industry. We strengthen the cooperation with leading institutions such as China Association of Actuaries and Society of Actuaries. For example, in November last year, the Department of Finance and the China Association of Actuaries held the 16th lecture on South China Life Insurance Actuary, which has enlarged the popularity of SUSTech in the actuarial industry and allowed students to understand the development prospects of the actuarial industry in the future. It also provides students with four actuarial education and training programs, i.e. "Spring Seedling Watch", association cooperation, exam funding and rich practical courses. Through different forms, students are expected to fully understand the actuarial industry and stimulate their enthusiasm for learning to connect professional qualities and work skills between school and industry.

 

   The Department of Finance gives priority to the development of actuary, provides students with best hardware and software resources and strives to build the largest actuary base and actuarial communication platform in South China and even in China within five years, not only to solve the shortage of talents in Shenzhen and Greater Bay Area, but also to export outstanding talents to the whole country.