Li, Johnny（李兆恆）

Teaching Areas

Actuarial Mathematics
Quantitative Risk Management
Derivative Securities

Research Interests

Longevity Risk Securitization
Stochastic Mortality Modeling
Financial Risk Management
Law and Actuarial Science
Reverse Mortgages

Grants
- “Maintaining Financial Stability in an Era of Changing Climate and Demographics”, Centers of Actuarial Excellence (CAE) Research Grant awarded by the Society of Actuaries, HK$2,316,600, 2018-2021 (Principal Investigator)
- “Temporal and Spatial Correlations in Mortality Dynamics: Applications to Mortality/Longevity Risk Management”, Discovery Grant (Individual) awarded by the National Sciences and Engineering Research Council of Canada, HK$899,000, 2021-2026 (Principal Investigator)
- “The Impact of Climate Change on the Insurance Industry: A Global Perspective”, Centers of Actuarial Excellence (CAE) Research Grant awarded by the Society of Actuaries, HK$1,544,400, 2020-2022 (Co-Investigator)
- “Biosecurity Risk Insurance – Stage 1”, research grant awarded by the Department of Agriculture and Water Resources, Commonwealth Government of Australia, HK$453,600, 2018-2019 (Co-Investigator)
- “Long Horizon and Longevity Risks in Insurance”, research grant awarded by the Global Risk Institute in Financial Services, HK$4,928,550, 2013-2015 (Co-Investigator)
- “Integrated Risk Management in a Changing World with Applications to Insurance Enterprises”, Centers of Actuarial Excellence (CAE) Research Grant awarded by the Society of Actuaries, HK$3,861,000, 2013-2017 (Co-Investigator)

Awards & Honours
- Redington Prize, Society of Actuaries, 2019
- SCOR Actuarial Award in Asia, SCOR Group, 2014
- Annual Prize for the Best Paper Published in the North American Actuarial Journal, Society of Actuaries, 2011
- Harold D. Skipper Award, Asia-Pacific Risk and Insurance Association, 2011
- Edward A. Lew Award, Society of Actuaries, 2006
- Best Paper Award, Actuarial Society of Hong Kong, 2006

Academic/Professional Services
- Editor, Annals of Actuarial Science, 2021-present
- Co-Editor, North American Actuarial Journal, 2012-present
- Topic Editor, Risks, 2020-present
- Associate Director, Actuarial Research Centre of the Institute and Faculty of Actuaries, 2018-2020
- Board of Directors Member, Asia-Pacific Risk and Insurance Association, 2011-2015

Lim, Ben Hong-beng（林宏明）

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Biography

Prof. Ben Lim joined The Chinese University of Hong Kong (CUHK) Business School in 2022 as an Assistant Professor of Finance. His research interests mainly lie in the intersection between statistics/machine learning and actuarial science. His research has focused on life settlements, and he is currently interested in the actuarial applications of neural network methods. He is also an Associate of the Society of Actuaries.

Teaching Areas

Actuarial Science

Research Interests

Interface of Statistics/Machine Learning with Actuarial Science
Life Settlements
Mortality Forecasting
Actuarial Applications of Neural Networks

Publications & Working Papers
- Hong Beng Lim and N.D. Shyamalkumar (2022), “Incorporating industry mortality table stylized facts into a company-specific mortality analysis: Neural networks with monotonicity constraints“.
- Hong Beng Lim and N.D. Shyamalkumar (2022), “Evaluating medical underwriters in life settlements: problem of unreported deaths,” North American Actuarial Journal, 26(2), 298-322.
- Hong Beng Lim and N.D. Shyamalkumar (2021), “A semiparametric method for assessing life expectancy evaluations,” North American Actuarial Journal, 25(3), 360-394.
- Dale Zimmerman and Hong Beng Lim (2021), “The middle-seed anomaly: Why does it occur in some sports tournaments but not others?” Journal of Quantitative Analysis in Sports, 17(3), 171-185.

Awards & Honours
- Taylor Award for Actuarial Stochastics, The University of Iowa, 2019 & 2022
- Ballad & Seashore Dissertation Fellowship, The University of Iowa, 2022
- Hickman Scholarship, Society of Actuaries, 2020-2022
- Henry L. Rietz (Outstanding PhD Comprehensive Exams) Award, The University of Iowa, 2019
- Graduate College Post-Comprehensive Research Fellowship, The University of Iowa, 2019
- Honorable Mention: Allen T. Craig (Outstanding TA) Award, The University of Iowa, 2018
- Bicknell Scholarship, UW-Madison, 2016

Academic/Professional Services
- President, Statistics Student Organization, The University of Iowa, 2020-2022

Zhu, Xiaobai（朱霄白）

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Teaching Areas

Actuarial Mathematics for Life Contingent Risks
Loss and Survival Model

Research Interests

Pension Mathematics
Longevity Modelling

Publications & Working Papers
- Zhu X and Zhou KQ (2022), “Smooth projection of mortality improvement rates: A Bayesian two-dimensional spline approach,” European Actuarial Journal.
- Chen L, Li D, Wang Y, and Zhu X (2022), “The Optimal Cyclical Design for a Target Benefit Pension Plan. Journal of Pension,” Economics and Finance.
- Zhu X, Hardy MR and Saunders D (2021), “Fair Transition from Defined Benefit to Target Benefit,” ASTIN Bulletin, 51(3), 873-904.
- Zhu X, Hardy MR and Saunders D (2021), “Structure of intergenerational risk-sharing plans: optimality and fairness,” Scandinavian Actuarial Journal, (7), 543-571.
- Li JSH, Zhou KQ, Zhu X, Chan WS and Chan FWH (2019), “A Bayesian Approach to Developing a Stochastic Mortality Model for China,” Journal of the Royal Statistical Society Series A, 182: 1523-1560.
- Zhu X, Hardy MR and Saunders D (2018), “Valuation of an Early Exercise Defined Benefit Underpin Hybrid Pension,” Scandinavian Actuarial Journal, (9), 823-844.
- Zhu X, Hardy MR and Saunders D (2018), “Dynamic Hedging Strategies for Cash Balance Pension Plans,” ASTIN Bulletin, 48(3), 1245-1275.
- Hardy MR, Saunders D and Zhu X (2014), “Market-Consistent Valuation and Funding of Cash Balance Pensions,” North American Actuarial Journal, 18(2), 294-314.

Wang, Zijia（王紫佳）

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Biography

Prof. Zijia Wang joined The Chinese University of Hong Kong (CUHK) Business School in 2022 as an Assistant Professor of Finance. Her research interests mainly lie in the general area of risk theory and quantitative analysis of insurance risk processes with applications to risk management. She is also an Associate of the Society of Actuaries.

Teaching Areas

Actuarial Science

Research Interests

Insurance Risk Models
Stochastic Process
Risk Theory

Publications & Working Papers
- Mohamed Amine Lkabous and Zijia Wang (2023), “On the area in the red of Lévy risk processes and related quantities,” Insurance: Mathematics and Economics, 111, 257-278.
- Zijia Wang, Mohamed Amine Lkabous and David Landriault (2023), “A refracted Lévy process with delayed dividend pullbacks,” Scandinavian Actuarial Journal, 2023(9), 885-906
- David Landriault, Bin Li, Mohamed Amine Lkabous and Zijia Wang (2023), “Bridging the first and last passage times for Lévy models,” Stochastic Processes and their Applications, 157 (March 2023), 308-334.
- Zijia Wang, David Landriault and Shu Li (2021), “An insurance risk process with a generalized income process: A solvency analysis,” Insurance: Mathematics and Economics, 98, 133-146.

Chan, Wai-sum（陳偉森）

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Biography

Prof. Wai-sum Chan is an Emeritus Professor in the Department of Finance at The Chinese University of Hong Kong (CUHK) Business School. Prof. Chan was born in Hong Kong. His undergraduate work was taken at CUHK where he graduated in 1984 with a major in accounting and a minor in statistics. After graduation, he completed a research-based MPhil Degree in Statistics at CUHK. He then further pursued a doctorate in applied statistics at the Fox School of Business, Temple University (Philadelphia, US), receiving the PhD in 1989. He is a Chartered Enterprise Risk Analyst (CERA), Fellow of the Society of Actuaries (FSA), Honorary Fellow of the Institute and Faculty of Actuaries (HonFIA) and Chartered Statistician (CStat).

Prof. Chan has held teaching and research posts at the National University of Singapore, the University of Waterloo, The University of Hong Kong, and CUHK before his present appointment as Dean and Professor of Decision Sciences at the Hong Kong Hang Seng University. He received the Edward Lew Research Award (second prize) in 2006 and was awarded the Inaugural Teaching Excellence Award by the National University of Singapore in 1992.

Prof. Chan has published over 110 journal papers and authored five books. His recent book “Financial Mathematics for Actuaries” has been selected as one of the suggested textbooks for the professional Financial Mathematics Exam by the Society of Actuaries.

Prof. Chan has served on the editorial boards of many journals, including North American Actuarial Journal (co-Editor since 2014), Journal of International Financial Markets, Institutions and Money (Subject Editor since 2015), Emerging Markets Review (Subject Editor since 2014), and Finance Research Letters (from 2014 to 2020). He presented over 100 invited conference talks in more than 15 countries.

Prof. Chan served as a Non-Executive Director of the Governing Board of the Insurance Authority of Hong Kong (2015-2021), and he is a current member of the Hong Kong Committee for Pacific Economic Cooperation (HKCPEC) comprising representatives from the academic, business, and government sectors. The committee discusses trade and economic issues, and aims to foster closer economic cooperation in the Pacific region.

Research Interests

Modelling of Actuarial Assumptions
Law and Actuarial Science
Financial Econometrics
Clinical Statistics