Mapfre MSV Life plc has announced that Andrea Fenech Adami, a senior member of its Actuarial Team, has recently successfully completed all required examinations which lead to a fellowship qualification with the Institute and Faculty of Actuaries (IFoA) in the UK. 

Fenech Adami is the second Maltese actuary to qualify at Mapfre MSV Life, following the qualification of Josef Gauci earlier in 2019.

Fenech Adami graduated from the University of Malta in 2014 with a BSc. (Hons) in Maths and Statistics and Operational Research. After graduation he joined the MFSA as an analyst in the Insurance Department where he commenced his studies to become a Fellow of the Institute and Faculty of Actuaries. 

He joined the Actuarial Unit of Mapfre MSV Life in October 2016 where he broadened his actuarial experience and continued his actuarial studies, qualifying in December 2019. He is also an active committee member of both the Malta Actuarial Society and the Mapfre MSV Life Sports and Social Club.

Mapfre MSV Life currently boasts a team of seven employees plus a trainee who are specialised in Mathematics, Accounting, Economics and Statistics. 

David G. Curmi, chief Executive officer, stated: "Qualifying as an actuary is not for the faint-hearted even more so while working on a full-time basis. The training programme is long and arduous and successful candidates are rare. Achieving the final qualification required the passing of 15 examinations, with most subjects requiring between 150 and 400 hours of study. I would like to particularly congratulate Andrea for having successfully gone through all 15 examinations within a much shorter time than expected." 

He adds: "Mapfre MSV Life has always encouraged and supported employees to further their studies as it is a firm believer that Training and Development initiatives are highly mutually beneficial for both employees and employer."

Actuaries are experts in risk management. They use their mathematical skills to measure the probability and risk of future events and to predict their financial impact on a business and their clients.

Mapfre MSV Life plc is authorised under the Insurance Business Act, Cap 403 of the Laws of Malta and regulated by the Malta Financial Services Authority