Actuarial, Finance, Risk and Insurance Congress 2

June 8th-13th, 2025

Personalise
AFRIC 2 logo
8th-13th
June 2025
08:00 am - 4:30 pm
Masai Mara National Reserve
Muthu Keekorok Lodge, Kenya

About AFRIC

AFRIC has been designed to be a premier non-profit making Actuarial Science academic conference that will be rotationally hosted across Africa, bringing together academics and practitioners with research interests across all specialty areas of actuarial science, risk management, and financial system regulation.  AFRIC aims to enhance the research culture within Africa's actuarial community. Hence, key topical areas including climate extremes, longevity risk, pensions, and insurance regulations, among others, form part of the AFRIC agenda. AFRIC will bring talent to a talented audience with massive potential of impacting their respective countries and societies. AFRIC is partnering with various universities across Africa and around the globe, actuarial societies, insurance regulators, and financial institutions. Pre-conference workshops will be run at each AFRIC gathering to provide hands-on skills for tackling critical challenges in today’s world. For AFRIC 2, the pre-conference workshop will cover aspects of Artificial Intelligence, Climate Change and GIS with stylised focus on Africa and will be run by renowned practitioners and academics who are subject matter experts for each theme.

AFRIC 2 will be hosted in Masai Mara National Reserve in Kenya at Muthu Keekorok Lodge from the 8th - 13th of June 2025. The Lodge is located right inside the national park.

    • Stochastic models in life and non-life insurance
    • Pensions, financial system and insurance regulation
    • Application of data analytics and machine learning to actuarial science
    • Artificial Intelligence in actuarial applications
    • Peer to peer insurance arrangement
    • Mortality modelling
    • Financial mathematics
    • Financial Institution and insurance risk management
    • Health economics and insurance
    • Longevity risk and retirement planning
    • Optimal control
    • Reinsurance
    • Asset-liability management
    • Climate extreme
    • Application of actuarial techniques in banking

Plenary Speakers

Hansjörg Albrecher is Professor of Actuarial Science at the Faculty of Business and Economics, University of Lausanne and a Faculty Member of the Swiss Finance Institute. After studying in Graz, Limerick and Baltimore, he held faculty and visiting positions in Graz, Leuven, Aarhus and the Radon Institute of the Austrian Academy of Sciences in Linz before moving to Lausanne in 2009, and guest professorships at various institutions since then, including the University of Hong Kong and ETH Zurich. He has published extensively in the field of insurance modelling and finance, and has been serving on the editorial board of numerous journals, including Insurance: Mathematics and Economics (Editor 2010-2017) and the European Actuarial Journal (Editor-in-Chief since 2019).

Andrew Cairns is Professor of Actuarial Mathematics at Heriot-Watt University, Edinburgh and at the Maxwell Institute for Mathematical Sciences.

He is well known both in the UK and internationally for his research in financial risk management for pension plans and life insurers. In recent years, his research has focused on the modelling of longevity risk: how this can be modelled, measured and priced, and how it can be transferred to the financial markets. Amongst his work in this field, he has developed a number of new and innovative stochastic mortality models, most notably the CBD family. He has also worked extensively on inequalities in all-cause and cause of death mortality, and the evolving impact of Covid-19 on current and future mortality.

His research has received several international prizes including the Halmstad Prize in 2008, the Society of Actuaries Annual Prize in 2009 and the Robert I. Mehr Award in 2016.

Much of his research is focused on delivering rigorous solutions to problems of practical importance. This has resulted in three highly-rated impact case studies for the UK's Research Excellence Framework (REF) and the award of the Edinburgh Mathematical Society's inaugural Impact Prize in 2022.

He is an active member of the UK and international actuarial profession: he qualified as a Fellow of the Faculty of Actuaries in 1993; he has held senior editorial roles at ASTIN Bulletin - The Journal of the International Actuarial Association (1997 to 2017) and Insurance: Mathematics and Economics (since 2023); and in 2005 he was elected as a corresponding member of the Swiss Association of Actuaries. From 2016-2020 he was Director of the Actuarial Research Centre of the Institute and Faculty of Actuaries.

In 2016 he was elected as a Fellow of the Royal Society of Edinburgh, Scotland's national academy of science and letters.

Gordon Phillips is the Laurence F. Whittemore Professor of Business Administration and a professor of finance at the Tuck School of Business. He is also a research associate at the National Bureau of Economic Research (NBER) and a visiting research professor at Tsinghua University in Beijing. He previously taught at the University of Southern California and the University of Maryland. He has been a visiting professor at Harvard Business School (HBS), Duke University, HEC Paris, Insead, MIT, and Southern Mediterranean University. He received his MA and Ph.D. from Harvard University and his undergraduate degree from Northwestern University.

His areas of research include computational linguistics, AI and finance, household finance, corporate finance and how financial decisions impact firms' strategic decisions, and contracting in financial markets.  Recent research published in the Journal of Political Economy, the Journal of Finance and the Review of Financial Studies has been on applying computational linguistics to firm financial statements to analyze merger synergies, dividends and product market competition. Research published in the Journal of Finance has been on real and financial booms and busts and mergers and acquisitions and how firms organize across multiple markets. His work in corporate finance includes studies of private equity issuance, capital structure, Chapter 11 bankruptcy, how leverage buyouts and other forms of high debt influence a firms' and rivals' investment decisions.   He recently presented the keynote address to the Financial Management Association and also a keynote address on PIPEs (private investment in public equity) to an audience of executives and finance professionals. He has served as an associate editor at The Review of Financial Studies and The Journal of Corporate Finance.

Adelaide Odhiambo brings in 19+ years in Insurance having worked for some of the top global Insurance companies which include AIG as Head of Partnerships for Asia Pacific mandated with 10 markets, Jubilee Insurance as Group supervisor customer services group responsible for the setup of a hub and spoke model supporting Kenya, Uganda, Tanzania, Burundi and Mauritius, APA as Group Head of product development supporting Kenya, Uganda and Tanzania businesses. An Actuary by training, she has dedicated her career to the growth of insurance products with a keen focus on the low-income segment. Adelaide was listed in Forbes Africa Top 20 Women making an impact in Africa in 2019.

Program Overview and Abstracts

Time Session Details
13:00 - 17:00
Registration
18:00 - late

Welcome Reception

Bush Dinner

Time Session Details
08:30 - 08:45

Official Opening & Welcome Remarks & Housekeeping

Maasai Welcome

08:45 - 09:10

Plenary Session Guest of Honour Address: UNSW and cohosts

Chair: Patrick Weke 

09:10 - 10:30
Plenary Session: Hansjorg Albrecher
Chair: Mukami Njeru
10:30 - 11:00
 Coffee Break
11:00 - 12:00

Round Table Discussion on Artificial Intelligence and Climate Extremes

Chair: Evie Calcutt

12:00 - 13:00

Artificial Intelligence, Climate Change and Geographical Information Systems Workshop

Facilitators: Microsoft

Chair: Samuel Chege Maina

13:00 - 14:00
Lunch
14:00 - 16:30

Artificial Intelligence, Climate Change and Geographical Information Systems Workshop

Facilitators: Microsoft

16:30 - 19:00 Afternoon Tea + Networking
19:00 - 22:00 Dinner
Time Session Details
08:30 - 09:50
Parallel Sessions for Contributed Talks
10:00 - 10:40
Plenary Session : Andrew Cairns
Chair:
Bernard Wong
10:40 - 11:00
Coffee Break
11:00 - 12:00
Parallel Sessions for Contributed Talks
12:05 - 13:00
Panel/ Roundtable Discussion
13:00 - 14:00
Lunch
14:00 - 15:20
Parallel Sessions for Contributed Talks
15:20 - late Afternoon Tea + Networking
19:00 - 22:00 Dinner
Time Session Details
11:00 - 11:40
Plenary Session: Gordon Phillips  
Chair:
Elvira Sojili
11:40 - 12:00
Coffee Break
12:00 - 13:00
Parallel Sessions for Contributed Talks
13:00 - 14:00
Lunch
14:00 - 15:00

Panel Discusssion: Africa's Access to global financial markets

Chair: Jerry Parwada

15:00 - 16:20
Parallel Sessions for Contributed Talks
16:20 - 16:30
Afternoon Tea
16:30 - 17:50 Parallel Sessions for Contributed Talks
19:00 - 22:00 Gala Dinner
Time Session Details
08:30 - 10:30
Decentralized Insurance and Risk Sharing Workshop
10:30 - 11:00
Coffee Break
11:00 - 13:00
Decentralized Insurance and Risk Sharing Workshop
13:00 - 14:00
Lunch
14:00 - 17:00
Village Tour/ Conference excursion
19:00 - 22:00 Dinner
Time Session Details
08:30 - 09:10
Plenary Session: Adelaide Adhiambo
Chair: Diana Skrzydlo
09:20 - 10:30
Parallel Sessions for Contributed Talks
10:30 - 11:00
 Coffee Break
11:00 - 12:50
Teaching session
12:50 - 13:00
Conference Closing and vote of thanks and reflection + next AFRIC
13:00 - 14:00
Lunch

Conference registration


Conference delegates are invited to register through the conference registration page.

Abstract submission portal

We are proud to announce AFRIC 2 which will be co-hosted with a number of institutions across East Africa which include The Actuarial Academy of East Africa, Jomo Kenyatta University of Agriculture And Technology, The Actuarial Society of Kenya (TASK) and the University of Nairobi. We invite all academics, practitioners, and students to submit an abstract for this fairytale event. Abstract submissions are welcome from all core areas of actuarial science, finance, risk management and emerging areas including artificial intelligence. Submission deadline for abstracts is Friday, the 17th of January 2025 at 23:59hrs (AEST). Abstracts can be submitted through the link below:

Participants are highly recommended to RSVP accommodation way in advance as there are limited places at Muthu Keekorok Lodge. Abstract acceptance will be communicated by the 20th of January 2025 to allow sufficient time for visa application depending on one’s nationality.

If you have any questions, feel free to get in touch with Jonathan on j.ziveyi@unsw.edu.au

Committee/ Speakers

  • Jennifer Alonso-Garcia – Universite Libre de Bruxelles, Belgium
  • Pierre Devolder – UCLouvain, Belgium
  • Elvira Sojli – UNSW Sydney, Australia
  • Andrei Badescu – University of Toronto, Canada
  • Ka Chun Cheung – The University of Hong Kong
  • Jan Dhaene – KU Leuven, Belgium
  • Munir Haibu – University of Copenhagen, Denmark
  • Wing Wah Tham – UNSW Sydney Australia
  • Hamza Hanbali – University of Melbourne, Australia
  • Katja Hanewald – UNSW Sydney, Australia
  • Eric Cheung – UNSW Sydney, Australia
  • David Landriault – University of Waterloo, Canada
  • Stephane Loisel – National Conservatory of Arts and Crafts (CNAM), France
  • Anne MacKay – Universite de Sherbrooke, Canada
  • Sure Mataramvura – University of Cape Town, South Africa
  • Xavier Milhaud – Aix-Marseille University, France
  • Gift Muchatibaya – University of Zimbabwe, Zimbabwe
  • Annamaria Olivieri – University of Parma, Italy
  • Jerry Parwada – UNSW Sydney, Australia
  • Colin Ramsay – University of Nebraska-Lincoln, United States of America
  • Ronald Richman – Old Mutual, South Africa
  • Kristina Sendova – Western University, Canada
  • Yang Shen – UNSW Sydney, Australia
  • Michael Sherris – UNSW Sydney, Australia
  • Julien Trufin – Universite Libre de Bruxelles, Belgium
  • Andres Villegas – UNSW Sydney, Australia
  • Bernard Wong – UNSW Sydney, Australia
  • Mengyi Xu – Purdue University, United States of America
  • Jonathan Ziveyi – UNSW Sydney, Australia
  • Yi Lu – Simon Fraser University, Canada

Chair:

  • Jonathan Ziveyi (Co-Chair) – UNSW Sydney, Australia
  • Mukami Njeru (Co-Chair, Industry Engagement) – PwC Nigeria
  • Patrick Weke (Co-Chair, local) – University of Nairobi, Kenya
  • John Njiru (Co-Chair, local) – Actuarial Academy of East Africa

Members:

  • Elvira Sojli – UNSW Sydney, Australia
  • Andrei Badescu – University of Toronto, Canada
  • Wing Wah Tham – UNSW Sydney, Australia
  • Jennifer Alonso-Garcia – Universite Libre de Bruxelles, Belgium
  • Jan Dhaene – KU Leuven, Belgium
  • Carolyn Njenga – Australian Reinsurance Pool Corporation
  • Munir Haibu – University of Copenhagen, Denmark
  • Hamza Hanbali – University of Melbourne, Australia
  • Salvatory Kessy – IAG, Australia
  • Sure Mataramvura – University of Cape Town, South Africa
  • Lynette Nyaradzai Tasaranarwo – National Social Security Authority, Zimbabwe
  • Michelle Vhudzijena – UNSW Sydney, Australia
  • Chessman Wekwete – Hanover Re, Sydney Australia
  • Andres Villegas – UNSW Sydney, Australia
  • Simba Takawira – Nedbank, South Africa
  • Jerry Parwada – UNSW Sydney, Australia
  • Blessing Mudavanhu – Dura Capital

Venue

The organisers have negotiated a special all-inclusive room rate for conference participants of US$152 per night (bed, breakfast, lunch and dinner) with Muthu Keekorok Lodge for the duration of the conference. Any accompanying person per room will be charged US$50 per day.  Reservations are limited and you are encouraged to RSVP early by emailing Ms Flora Nyapinda on: sm3@africamuthuhotelsmgm.com or by calling/WhatsApp +254 722 959658

As the lodge is located inside the National Reserve, there are access fees payable to the local Narok County which depend on individuals’ residence status as follows:

The Park Entry fees can be made in US dollars or Kenyan shillings at the entry gates, except for the Mara Triangle - Mara Conservancy area, where only cashless payment (Visa/Mastercard or Mpesa Mobile Money) is accepted. Residents of Kenya should carry identification and proof of residence to avail of the cheaper resident rates.

Travel requirements

Travelling to Kenya

All travellers to Kenya who are not citizens of East African Partner States will need an Electronic Travel Authorisation (eTA) to enter Kenya and this can be applied electronically through the official site.

Note that the processing time varies from 3 – 7 business days and here are some of the mandatory requirements for all foreign travellers:

  • Valid passport for at least six (6) months after your planned date of arrival into Kenya, with at least one blank page 
  • Selfie or passport-type photo
  • Contact information, email address and phone number
  • Details of your arrival and departure itinerary 
  • Accommodation booking confirmation(s)

Transfers between Nairobi and the conference venue

For transfers between Nairobi and the conference venue (and game drives within Maasai Mara for the entire duration), we have made special arrangements with Nyagaya Safaris who will provide 7-seater Safari Land Cruisers for US$280 per vehicle per day (approximately US$40 per day per individual). The way we have negotiated is that each group of up to seven individuals will be assigned a vehicle for their entire stay in Maasai Mara so that it will as well be handy for game drives and village tour visits. The price includes

i) return Nairobi transfers from Muthu Keekorok Lodge,

ii) Maasai Mara National Reserve Game drives,

iii) service of a professional driver/guide, iii) vehicle park entry fees, and

iv) drivers allowance.

Nyagaya Safaris can as well provide airport transfers for those who wish to spend some time in Nairobi before going to the park. Reservations for transfers can be made directly by emailing Ms. Lynee Nyagaya on nyagayasafaris2@gmail.com and cc Ms Pauline Nyagaya on nyagaya.pauline@yahoo.com They  are also reachable by calling/ WhatsApp +2547 11 861368. Note that Lynee has promised exceptional service to any groups with additional needs, and you can customize your travel by selecting who to travel with etc. Once you have finalised your itinerary to Nairobi, please get in touch with Nyagaya Safaris for that they can coordinate and make necessary arrangements for your transfers.