PEAK-RE SPONSORED ARECA CASE COMPETITION
The Peak-Re Sponsored ARECA Case Competition is set to support and encourage university students in Asia who are interested in the general insurance actuarial field.
About ARECA
AREACA, 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 continuing education events, outreach to universities, and networking among its members in the greater Asia region.
About Peak-Re
Peak Re is a Hong Kong-based reinsurance specialist with a global portfolio and a unique approach that reflects its founding purpose of contributing to the sustainable development of the (re)insurance industry and helping society to prosper by providing protection to more people under the umbrella of (re)insurance.
About CAS
The Casualty Actuarial Society (CAS) is a leading international organization for credentialing and professional education. Founded in 1914, the CAS is the world’s only actuarial organization focused exclusively on property and casualty risks and serves over 10,000 members worldwide. CAS members are experts in property and casualty insurance, reinsurance, finance, risk management, and enterprise risk management. Professionals educated by the CAS empower business and government to make well-informed strategic, financial, and operational decisions.
Awards
Frist Prize for one team: USD 1,500
Second Prize for one team: USD 1,000
Third Prize for one team: USD 500
+
One free CAS Exam Credits (Exam 5 and above, excluding DISCs) for
each individual of the three winning teams.
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Opportunity to present your work to the Chief Executive leaders in PeakRe
Participant Requirements
- Currently a full-time undergraduate student in APAC
- Have sat for at least one actuarial exam
- Be a member of the CAS Student Central
Application Deadline
January 14th, Sunday 2024
Question
You are part of the risk management team of a small family-owned P&C insurance (GI) company in a fictional country that shares many similarities with markets in Asia. Competition in the local insurance market is intense, and your company writes all lines of business across both personal lines and commercial business, predominantly through agents and intermediaries. Recently more personal lines business has started to shift to selling to customers directly (via apps or online), putting more pressure on pricing.
Your company has expanded rapidly over the past five years and has relied heavily on reinsurance to protect your capital position. The solvency ratio of your company is twice the regulatory minimum of 100% but is on a declining trend due to business expansion, thin profitability, and a dividend payout of 60%.
Considering the rising reinsurance costs and current economic and financial headwinds, including a persistent inflation threat, what are the potential challenges you foresee for your company in the next few years? What would be your suggested actions to counter these challenges? In your submission, please also discuss the implementation of your suggestions and the impact(s) on the company’s sustainable development.
General Guidelines
- You may work on this response individually or in groups up to 3.
- Presentations may be written (Word document) or oral (recorded together with PowerPoint or any other presentation format).
- This competition will have two rounds. First round submissions may be in any language. For submissions invited to the second round, presentations must be in English.
Enquiry
International@casact.org