Background

History of the Moroccan Association of Actuaries (AMA)

The Moroccan Association of Actuaries is characterized by its proactive strategy in promoting the role of the actuary in the insurance and financial market sectors. Since its creation in 1998, its achievements reflect a growing dynamic of activity among its members, different target audiences and partners at the national, regional and international levels.

1998-2003

The AMA was created in 1998 on the initiative of a small group of actuaries. Among its founders, the first president of the Association, Mr. Mohamed Reyad, is the first Moroccan actuary; an actuarial sciences graduate of HEC Lausanne in the 1970s. From 1998 to 2004, he served two successive terms as President of the Association, characterized by the establishment of solid foundations and an ambitious, enduring vision.

The association organized its first professional event on November 4, 1998, dedicated to banking insurance, which marked the beginning of its advocacy of the actuary profession and active participation in major current affairs debates across the country:

  • “Solidarity and Insurance” round table on March 11, 1999,
  • The Association Friendship Dinner, February 18, 2000,
  • Participation in the INSEA (National Institute of Statistics and Applied Economics) Forum, 26-27 April, 2000, and organization of a conference on the role of the Actuary,
  • Visit to the Casablanca Stock Exchange, February 21, 2001,
  • Submission of two technical presentations on June 23, 2001: “Determination of Full Reinsurance” and “Application of Actuarial Technology to Illness and Disability Insurance”
  • Conference on “The Actuary Profession and its Outlook” led by Mr. Pierre Petauton, January 21, 2002
  • Organization of the 1st international professional meeting of the leaders of the actuarial profession in Africa: from 31 March to 2 April, 2003

Over the same period, INSEA’s Actuarial-Finance department was created (1999) at the behest of the Finance Ministry’s Department of Insurance and Social Welfare (DAPS). The existing training had essentially been offered by INSEA since 1974, albeit on an ad hoc basis, in response to the requests and needs formulated by the DAPS.

2004-2010

The Moroccan Association of Actuaries became, thanks to a sustained dynamic of exchange with the major actuarial associations throughout the world, an associate member of the International Actuarial Association, an international organization assembling all national actuarial associations.

The year 2004 was also marked by the election of Mr. Mustapha Lebbar, who would go on to three successive terms as President of the Association.

The Association’s main achievements at the time were characterized by a revision of its statutes and the implementation of governance tools (internal regulations, ethics code, revision of admission rules and establishment of qualification criteria) essential in order to qualify for full membership in the IAA, and to comply with the highest international standards in the sector.

This dynamic of governance, and this period of activity, are also characterized by the strengthening of partnerships with INSEA, where the Association has since been associated with teaching in the Actuary Finance field.

In 2008, after an ongoing presence at IAA meetings and committees and active, sustained lobbying by the AMA Presidency, the Association became a full member of the international organization.

During this period, the Association takes part in the 2nd African Actuarial Congress in Abidjan in 2009 (after the one held in Casablanca in 2003) and the International Congress of Actuaries in Cape Town in 2010 (ICA2010).

2011-2015

Marked by the successive presidencies of Mr Larbi Nali and Mr Abdelkrim Khiraoui, the period from 2011-2015 was characterized by an active presence at the international partnership level and a consolidation of the association’s activities, which work to acquaint the public authorities with the need for regulation of the actuary profession.

During this period, the AMA participated in the profession’s various activities at the international level:  the 7th International Conference on Micro-Insurance at Rio, 2011, and the 8th at Dar Es-Salaam, 2012 ; the 39th Annual Conference of the African Insurance Organization in Khartoum, May 2012, the 3rd African Actuarial Congress in Lomé, 2013, the 19th Annual Conference of the AICA in Washington in October, 2014 and participate to the 2014 Annual Congress of the French Institute of Actuaries in Paris.

The following year the association organizes, among other events, a conference moderated by Mrs. Anne Marion, actuarial consultant and Professor at ISFA Lyon, on the occasion of International Women’s Day (8 March, 2014), as well as a conference on Asset Liability Management in Insurance and Retirement in June, 2014.

In 2014, the Association, represented by Mr. Amrani, joined the Education, Aid and Consultation Committees of the International Actuarial Association.

The year 2015, which marked the end of the national financial sector’s first phase of development (1995-2015), was signaled by the election of an actuary from the world of Finance, Mr. Mohamed Amrani, to the association’s presidency.

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