The ASHK Certificate was introduced as a requirement for new ASHK Fellows (FASHK). At the time, all existing FASHK were eligible for grandfathering and hence not required to obtain the certificate.  As part of the transition, the ASHK Certificate Equivalent Course is now available for grandfathered FASHK.

FAQ

Why is this course being introduced?

The Insurance Authority (IA) will introduce new requirements for actuaries. All applicants for Long-Term Appointed Actuaries and General Insurance Certifying Actuaries will need to be an FASHK and demonstrate their local market knowledge, this is expected to become effective on 1 July 2024. IA will issue details in due course.

ASHK is offering this course to provide another route for grandfathered^# FASHK (with current valid membership) to demonstrate their knowledge of the local market. 

I am a grandfathered FASHK; is there an alternative route to demonstrate my local knowledge?

Yes.  You may pass the examinations of the ASHK Certificate in Hong Kong Insurance Markets and Regulations. As the course will only be offered for a limited period, once it is no longer available, this examination will be the only way to demonstrate your local market knowledge in future.

I obtained the ASHK Certificate to become an FASHK, do I need to take this course to demonstrate my local market knowledge?

No.  Since 2019, all new FASHK must pass the examination of the ASHK Certificate to become an ASHK Fellow. Obtaining the ASHK Certificate demonstrates your local knowledge of the Hong Kong Insurance Markets and Regulations.

I am a grandfathered FASHK; do I need to attend the course to maintain my Fellow membership?

No.  However, any Fellow member who was grandfathered but subsequently lapsed their membership, regardless of any reason, is required to pass the examinations of the ASHK Certificate to requalify as a Fellow member thereafter.

Please note, that maintaining Fellow membership alone does not fulfil the upcoming IA requirements. In future, applicants for Long-Term Appointed Actuaries and General Insurance Certifying Actuaries will also need to demonstrate local market knowledge. Attending this course (for grandfathered FASHK only) within this limited period or passing the examinations for the ASHK Certificate will assist in fulfilling this new requirement. For more information on how to fulfil the new requirement, please refer to the details from the IA when issued.

Will the course be rerun?

The course will be rerun subject to demand during a limited time period.

What will be covered in the course?

The learning outcomes of this course are the same as the ASHK Certificate. Areas covered include,

• Hong Kong’s actuarial regulatory environment
• Business practices
• Professional Conduct Code
• Actuarial Guidance Notes relevant to different work areas (life insurance or general insurance)

Does the course contribute towards my professional development?

Yes.  You can earn 7 CPD hours by participating in the whole course.  HKU SPACE will issue an attendance certificate.

^# All existing Fellow members of ASHK who held valid membership status on 1 January 2019 were eligible for grandfathering.