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Actuarial Society of South Africa

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Tel: +27 (0) 21 509 5242
Fax: +27 (0) 21 509 0160
Postbox:
P.O. Box 4464
Cape Town
8000
South Africa
Scope:
Eastern Cape, Free State, Gauteng, KwaZulu-Natal, Mpumalanga, North-West, Northern Cape, Northern Province, Western Cape.

Vision:

The actuarial profession in South Africa is widely recognised as the profession that enhances the long term financial security of individuals and institutions.

Stakeholders and interested parties include business, labour, government, regulatory authorities, other professions, members of retirement funds and medical schemes and policyholders, current and prospective members of ASSA, the media and the international actuarial community.

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From The Glossary »

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Uberrimae Fidei:

In all contracts of insurance, it is a fundamental principle that the parties must exercise the utmost good faith towards each other. Any material fact which would influence the parties to the contract must be disclosed, otherwise there is ground for avoiding the policy. This applies to both intentional and innocent failure to disclose material facts. The test of materiality is whether that fact would have influenced a prudent insurer in his decision ...
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