"Munich Reinsurance Cup" Held by SUSTech Department of Finance in Shenzhen
Date: 2018-05-25

On May 20, 2018, the Department of Finance held the Munich Reinsurance Cup Actuarial Mathematics Competition in Shenzhen for the first time. A total of 74 students including those from Sun Yat-Sen University, Hunan University, Xiamen University, Hong Kong Polytechnic University, Huaqiao University and our university registered for the competition. The Munich Reinsurance Cup Actuarial Mathematics Competition is the most prestigious competition in the insurance industry, which has been held by the Munich Reinsurance Company since 2011, aiming to train outstanding insurance actuaries for the insurance industry and create internship opportunities for students who aspire to become actuaries. The prizes of this competition were eventually awarded to top three winners in the world (respectively 10,000, 5,000 and 2,500 yuan), 20 outstanding winners and No.1 winner of competition area. The winners are given priority to the Munich Reinsurance China Internship Program and have the opportunity to participate in the training and summer camps organized by Munich Reinsurance.

       Munich Reinsurance Company is the largest insurance company in the world and one of Fortune 500 Companies, which has been rated AAA by Standard & Poor's for many years. It holds such competition every year and first set up a competition site in Shenzhen this year. This year, Munich Reinsurance has set up 19 examination rooms in universities around the world, including the Australian National University, New South Wales University, University of Singapore, National Taipei University, University of Hong Kong, Renmin University of China, Nankai University, Central University of Finance and Economics and Southern University of Science and Technology. The Southern University of Science and Technology was first chosen as the competition site. In this competition, Munich Reinsurance received a total of 990 valid applications worldwide, 74 of which were from SUSTech, ranked top three among the 19 competition sites in the world.

      At noon that day, Professor Wang He communicated with He Yaoxi of Munich Reinsurance Hong Kong Branch and invigilator Yang Jianbao about the competition. Companied by our staff Feng Pengju and Luo Wenchen, this actuarial mathematics competition for university students was successfully completed. After the competition, the invigilator of Munich Reinsurance hosted the lucky draw and five students were lucky to win the prize.

       The invigilator held a discussion with the candidates and gave them advice on how to enter the actuarial industry in the future. The Department of Finance has contributed much to the actuarial industry. Since October last year, it holds two or three actuarial lectures every month and develops actuarial education and training programs for students, i.e. "Spring Seedling Watch" association cooperation, examination funding system and rich practical courses, providing students with the best hardware and software resources for entering the actuarial industry in the future. Hereafter, Munich Reinsurance will set up examination rooms in the Department of Finance of SUSTech, which will greatly promote the establishment of the Department of Finance to become the largest actuarial cradle and communication platform in South China and even the country within five years.