KUALA LUMPUR, Aug 10 — Laksa cravings. Long chats with old school friends. Strolling through Ipoh Garden and Woolley Food Court (formerly Woo Lee).
These may sound like everyday Malaysian indulgences — but for Win-Li Toh, they are grounding rituals that keep her connected to home despite holding one of the most prestigious roles in Australia’s insurance and finance sector.
The Ipoh-born former Methodist Girls’ School (MGS) student was recently named president of the Actuaries Institute of Australia, making her one of the few Malaysians to lead a profession often working quietly behind the scenes but increasingly shaping public policy on climate change, cyber risks and intergenerational inequality.
She is only the second Asian to helm the institute since its establishment in 1949.
Before her name appeared on the institute’s presidential roll — and long before she began advising global insurance firms in Sydney and Auckland — Toh was just a bright girl from Ipoh who loved puzzles and never missed her mother’s asam laksa.
“The first thing I do when I come back is eat asam laksa at home or at Woolley’s,” she said with a laugh. “Then I see my dad, my brother, my best friends. Only after eating, of course.”
The Actuaries Medal belonging to the President of the Australian Actuaries Institute Win-Li Toh was shown during an interview session here at the Hilton Hotel, Kuala Lumpur. — Picture by Sayuti Zanudin
Ipoh roots and Oxford dreams
Toh was born and raised in Ipoh Garden, where her 90-something father, a retired doctor, still lives today with the help of a long-time family helper.
She attended MGS Ipoh, where her love for mathematics took root. By 15, her academic talent was clear. Following in the footsteps of her elder siblings — one a doctor, the other an architect — she left Malaysia for Cheltenham Ladies’ College in the UK to complete her A-levels.
From there, she gained early admission to Oxford University to study pure mathematics.
“Oxford was a dream. I studied pure maths for three years and loved every moment of it,” she said.
At Oxford, she met Dr Hilary Priestley, a mentor who rewarded “elegant solutions” to complex problems with mini Mars bars.
“I only got one in three years, but I still remember the equation. It was the first time I understood the joy of solving a problem beautifully. It taught me that clarity of thought matters more than brute force,” she said.
From maths to actuarial science
After Oxford, Toh stumbled upon actuarial science at a London career fair, where two actuaries convinced her she could turn her love for puzzles into real-world problem-solving in finance and risk.
“Being an actuary isn’t just about numbers. It’s about understanding risk, making ethical decisions and translating technical knowledge into real-world solutions,” she said.
Now in her mid-50s, Toh is a general insurance actuary and consultant, serving as the appointed actuary for several international insurers in Australia and New Zealand. Her work spans financial condition reports, reserving and pricing assessments, reinsurance reviews and regulatory compliance.
She also tackles emerging areas such as climate risk, social welfare modelling and cyber resilience — where actuaries help governments predict how investments in education or health could offset future costs in justice or corrections.
Malaysian strengths
While based between Australia and New Zealand, Toh remains a strong advocate of Malaysia’s academic strengths, especially in mathematics.
“When I arrived overseas, I was way ahead of everyone else in maths. In Malaysia, you’re taught to treat maths like breathing — it’s not about being good or bad, you just do it,” she said.
Toh described Malaysians as “natural actuaries” who thrive on diversity, adapt quickly and bring multiple perspectives to problem-solving.
“We’re no longer just number crunchers. We’re in the boardroom, advising governments, modelling disaster response and working with tech companies,” she said.
WIn Li Toh comes back often and Malaysia is never far from her heart. She loves assam laksa and more and makes it a point to hit her favourite spots in Ipoh when she’s visiting or working. — Picture by Sayuti Zanudin
Deep roots, global reach
Despite her international career, Toh’s ties to Ipoh remain strong. She fondly recalls school band rehearsals, taekwondo, tennis at Ipoh Swimming Club and late-night study sessions.
“I still speak Malay and Chinese. The Padang Ipoh, the FMS Bar — the same waiters are still there. And there’s a food revolution with Michelin-rated restaurants and fusion cafés run by young people. I love it,” she said.
Toh is a mother of 20-year-old twins, both studying engineering in Sydney. She sees the actuarial profession as expanding far beyond its traditional scope.
“It’s no longer just about pensions and insurance. We’re involved in public policy, social welfare and climate change economics. My goal is to help people understand that actuaries are not just number crunchers — we’re advisors, policy thinkers and problem solvers,” she said.
Her advice to Malaysians: “Don’t let anything stop you. You don’t have to come from privilege. Stay curious and embrace challenges. If you love maths and puzzles, this could be your path too.”
Before flying back to Australia, Toh has one last item on her to-do list.
“Get a good roti canai. Maybe some soup noodles too. That’s non-negotiable,” she said with a smile.
