Peak Re-Sponsored 2023/24 CAS Asia Regional Casualty Actuaries (ARECA) Actuarial Case Competition Winners Announced
The ARECA Scholarship Committee is delighted to unveil this year’s winning teams of the Peak Re-Sponsored CAS ARECA Competition:
1st Place
Chin Xiang Ee, Choi Nian Ci, and Law Zhe Wei from Universiti Tunku Abdul Rahman, Malaysia
2nd Place
Lim Pun Sheng and Tan Kai Ziang from Universiti Malaya, Malaysia
3rd Place
Lim Yu Shan, Toh Xian Yi, and Chee Keen Liang Nanyang Technological University, Singapore
The Case Competition is set to support and encourage university students in Asia who are interested in the general insurance actuarial field. Shortlisted participating teams had the opportunity to present their work to a distinguished panel of judges, consisting of Founder and C-suite leaders of Peak Re as well as senior CAS fellow. The three winning teams were awarded cash prizes ranging from USD 1,500 to USD 500. Each member of the winning teams also received a Certificate of Achievement and one free CAS exam registration.
Mr. Franz Hahn, Founder of Peak Re, extended his heartfelt congratulations to the winners. He stated, “Their remarkable achievements showcase the industry's potentials and the high quality of talent pool. At Peak Re, we remain committed to fostering innovation and empowering the emerging middle class. At Peak Re, we are committed to driving innovation and supporting emerging talent. This competition exemplifies our mission to modernize reinsurance and empower the emerging middle class in Asia and beyond. Congratulations to all the participants, and a special commendation to the deserving winners.”
Testimonials from our Winners
From Chin Xiang Ee, Choi Nian Ci, and Law Zhe Wei, Universiti Tunku Abdul Rahman, Malaysia
“Joining the Peak Re Sponsored CAS ARECA Case Competition has brought to us a deeper understanding of the general insurance scene in Asia as well as the operation of insurance companies including their relationship with reinsurers. Proposing practical solutions for the financial challenges and competition faced by our fictional P&C company was challenging. We started by looking into the Asian market, then drew upon ideas from available resources and from knowledge derived from our actuarial studies at Universiti Tunku Abdul Rahman to devise feasible solutions. We are grateful for the opportunity to showcase our ideas and are honoured to have won as 1st place winners. Beyond that, we are delighted to have joined in the insightful discussion among the judges and the other brilliant participants. Truly, much was gained from this exciting experience.”
From Lim Pun Sheng and Tan Kai Ziang, Universiti Malaya, Malaysia
“We express our sincere gratitude to Peak Re for sponsoring the CAS ARECA Case Competition, which has provided us with a valuable opportunity to delve deeper into the realm of general insurance.
Throughout this case study journey, we now have a greater grasp of the operational dynamics of general insurance companies, along with the critical issues that demand attention in the development of insurance products. This experience has undoubtedly bolstered our capacity to devise innovative solutions to the challenges encountered by general insurance companies, thereby enriching our expertise in the field of actuarial science.
We appreciate the invaluable opportunity provided by Peak Re and eagerly anticipate applying our enhanced expertise in future endeavors!”
From Lim Yu Shan, Toh Xian Yi, and Chee Keen Liang, Nanyang Technological University, Singapore
“Participating in the Peak Re Sponsored CAS ARECA Case Competition was an enlightening experience that fully immersed our team in the complex challenges faced by general insurance companies in today's Asian market. It was more than just a test of technical skills and actuarial knowledge; it was a transformative journey that required us to think innovatively and develop actionable strategies. The most daunting aspect of our journey was to effectively manage the potential drawbacks of our proposed solutions. We are sincerely grateful for this opportunity and take great pride in our team's accomplishments. The invaluable lessons we gained and the strong bonds we formed during this competition will undoubtedly shape and guide our future endeavours in the actuarial field.”
About CAS ARECA
ARECA, or Asia Region Casualty Actuaries, was formed in 2015 as a regional affiliate of the CAS. It is run by CAS member volunteers in the Asia Pacific region to provide a platform to connect local members, support new joiners, expand actuarial knowledge in the general
insurance field, and inspire professionalism and innovation.
About Peak Re
Peak Re is a Hong Kong-based reinsurance company with a clear mission to modernise reinsurance and support the emerging middle class in Asia and around the world by providing innovative reinsurance, risk management and capital management solutions. With sustainably designed, award-winning offices in Hong Kong's West Kowloon Cultural District, the company has a thriving entrepreneurial, collaborative culture that values open and curious minds, knowledge sharing and agile decision-making.
