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Professional Standards (PS)

Download Professional Standards (PS)

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.

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).

Revised on and effective  23 December 2015