in trofer Cert
M- Home
slip attached called
as
to whom
see
this afternoon
Discussed the Hongkong Life Insurance Co.
HE gave me information such as
that Australians had been starting companies under the Hongkong Company's Order
that several of these would almost certainly break within the next few years
and that the Hongkong Court would have difficulty locally in getting actuarial advice
since Mutual is in China
and the China actuary is the only actuary
His point he wanted to urge was that there ought to be a definition of "actuary" in the Order
and in regulations under it, that the actuary ought to be required to be a British subject
otherwise anybody, a foreigner, could not be proceeded against under $30 outside Hongkong
He was not prepared to agree that the Gods of Hongkong might be expected to refuse to accept a valuation signed by a person who was not a member of a recognised Society of Actuaries
I think that there is point in what he says
We might suggest a "British subject resident in Hongkong"
He was not opposed to standards of solvency, but thought that modern methods should be taken
and not the obsolete table basis under the Order § 24
I think we should take the opportunity of requesting to despatch 0.1.23/10
on 32212/07
whether the error in printers amending RS or not differs Pt. 24 being introduced