Mumbai, 4th October, 2018: The Council of The Institute of Actuaries of India (IAI) in its council meeting held on 22nd September, 2018 elected Sunil Sharma as its new President. He will serve a two year term as the President of IAI. Sunil Sharma is currently the Chief Actuary and the Chief Risk Officer for Kotak Mahindra Life Insurance Company India Ltd (Kotak Life).
Sunil Sharma, President of The Institute of Actuaries of India (IAI) said, “I am honoured to have been elected to lead the Indian Actuarial profession. I thank the council members for having placed their trust in me to represent and champion the interests of our members and the vocation. It has been my constant endeavor to grow the profession beyond traditional areas, increase rapport and forge stronger connect with Insurance, Pension and Market regulators. The global demand for actuaries is evolving rapidly. I stand committed to build on the excellent work of my predecessors and ensure that the IAI remains connected with its stakeholders.”
Over the years, Sunil has served the IAI Council in various capacities. Recently, as the Chairperson of Wider Field Committee (WFC) he envisioned creating employment opportunities for actuarial personnel, specifically for students, in areas other than traditional insurance and pension areas. He has been the Chief Editor of the IAI publication “The Actuary India” for several years. As an actuarial member, Sunil has been actively associated with the profession close to two decades. He was instrumental in designing and sponsoring the first web portal of the then Actuarial Society of India (ASI).
With close to 29 years of diversified experience in the insurance and reinsurance sector, Sunil has worked across India, USA, UK and Singapore. Prior to joining Kotak Life, he has worked in various positions with ICICI Prudential Life, Swiss Re, GE Financial Assurance Holdings, Inc. and Life Insurance Corporation of India. Sunil is a Fellow Member of Institute of Actuaries of India (FIAI) and Fellow Member of Institute of Actuaries, UK (FIA).
About Institute of Actuaries of India (IAI)
IAI is a statutory body established under The Actuaries Act 2006 (35 of 2006) for regulation of profession of Actuaries in India. The provisions of the said Act have come into force from 10thday of November 2006, in terms of the notification dated 8th November 2006, issued by the Government of India in the Ministry of Finance, Department of Economic Affairs. As a consequence of this, the erstwhile Actuarial Society of India was dissolved and all the Assets and Liabilities of the Actuarial Society of India were transferred to, and vested in, the Institute of Actuaries of India constituted under Section 3 of the Actuaries Act, 2006. The erstwhile Actuarial Society of India (ASI) was established in September 1944. Since 1979 the ASI has been a Full Member of International Actuarial Association (an umbrella organizations to all actuarial bodies across the world) and is actively involved in its affairs. In 1982, the ASI was registered under Registration of Literary, Scientific and Charitable Societies Act XXI of 1860 and also under Bombay Public Charitable Trust Act, 1950. In 1989, the ASI started examinations up to Associate level, and in 1991, started conducting Fellowship level examination leading to professional qualification of an actuary, till then the accreditation was based on Institute of Actuaries, London examinations (now Institute and Faculty of Actuaries).