Morocco: Actuarial body seeks recognition from regulator
Source: Middle East Insurance Review | Sep 2017
The Moroccan Association of Actuaries (MAA) hopes to obtain regulatory recognition from the Insurance Supervisory Authority (ACAPS) as a professional body of actuaries, in order to fully exercise its role as a promoter of the actuary’s role in the insurance and financial market sectors.
The actuarial function is generally controlled by regulators, notably in governance. In Europe, this function is represented by professional associations of national and European actuaries. In Morocco, AMA member actuaries appear to be the best candidates for this new position in insurance or reinsurance companies, reported The New Tribune citing association
sources.
The MAA, which was established in 1998, has more than 125 members including individuals and companies. Its institutional members are Atlanta, AXA, CAT, Central Reinsurance (SCR), Saham Assurance, Wafa Assurance and National Pension and Insurance Fund (CNRA)/Collective Retirement Allowances Regime (RCAR).
The MAA aims to consolidate its position at the national level and internationally. It is a full member of the International Actuarial Association (IAA). MAA President, Mr Mohamed Amrani, has been Vice-Chair of the IAA Africa Subcommittee since January 2016.
In the training and professional development arena, the MAA has a teaching partnership with the National Institute of Statistics and Applied Economics (INSEA), which is one of Morocco’s oldest engineering schools, and is involved with the tertiary institution, the National Superior School of Computer Science and System Analysis (ENIAS), in a master’s degree course in green finance.
The Association has also been chosen to organise the 5th African Actuarial Congress in Casablanca in March 2018. M