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The Actuary in South Africa (1973)

Published online by Cambridge University Press:  11 August 2014

P. W. Barke
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Extract

1.1. It is over 17 years since the paper ‘The Actuary in South Africa’ (1) was discussed. In South Africa as elsewhere great changes have taken place and it was felt appropriate to bring the position up to date. Nevertheless those interested are recommended to refer to the 1957 paper and not least to Mr R. G. Mallett's introduction to the discussion. Since the decision was taken to write this paper, Mr Spedding's paper ‘The Actuary in Australia’ (2) has been presented and to facilitate comparison, I have followed the general outline of that paper.

1.2. The South African currency is Rands and cents (100 cents equals one Rand). Since South Africa did not follow the United Kingdom devaluation of 1967 the parity was R. 12 equals £7 sterling but South Africa devalued at the end of 1971 and then R. 2 was almost the same as £1. At the time of writing the pound is roughly equivalent to 1·5 Rand.

Type
Research Article
Information
Journal of the Staple Inn Actuarial Society , Volume 21 , Issue 1 , October 1974 , pp. 58 - 69
Copyright
Copyright © Institute of Actuaries Students' Society 1974

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References

REFERENCES

(1) ‘The Actuary in South Africa’ by de Smidt, H. E., Scherman, K., Williams, D. W. and Rodger, G.. (Presented to the Institute of Actuaries Students' Society on behalf of the joint authors by R. G. Mallett and discussed before the Society on 22 February 1957.)Google Scholar
(2) ‘The Actuary in Australia’ by Spedding, A.. (Presented to the Institute of Actuaries Students' Society on 6 November 1970.)Google Scholar
(3) Twenty-Eighth Annual Report of the Registrar of Insurance for the year ended 31 December 1971.Google Scholar
(4) Quarterley Bulletin of the South African Reserve Bank No. 111, March 1974.Google Scholar
(5) The Insurance Act, 1943 (of the Republic of South Africa) as amended by subsequent enactments up to and including Act No. 75 of 1970.Google Scholar
(6) ‘The governmental control and supervision of the private insurance industry in South Africa.’ (Contributed by the Actuarial Society of South Africa to the 19th International Congress of Actuaries, Oslo, 19–24 June 1972.)Google Scholar
(7) ‘Internally–linked life policies in South Africa’ by Ferguson, D. R. G. and van der Linde, J. H.. (Presented to the 19th International Congress of Actuaries, Oslo, 19–24 June 1972.)Google Scholar
(8) ‘The Actuary in Canada’ by Suttie, T. R.. (Discussed before the Institute of Actuaries Students' Society on 4 March 1955.)Google Scholar
(9) Transactions of the Actuarial Society of South Africa, Volume I, Part I, 1969; Volume I, Part II, 1971.Google Scholar
(10) Fiscal and Monetary Policy in South Africa—Third Report of the Commission of Enauiry into Fiscal and Monetary Policy in South Africa, November 1970. R.P. 87/1970.Google Scholar