What is Actuarial Science?
Actuarial science is the discipline that applies mathematical and statistical methods to assess risk in insurance, pension, finance, investment, and other industries and professions.
Universities That Offer Actuarial Science In South Africa
| UNIVERSITY | WEBSITE |
|---|---|
| Cape Town | https://www.commerce.uct.ac.za/Managementstudies/actuarialscience/ |
| Pretoria | http://www.up.ac.za/insurance-and-actuarial-science |
| Johannesburg | https://www.uj.ac.za/faculties/science/ |
| Stellenbosch | http://academic.sun.ac.za/statistics/ |
| Witwatersrand | http://web.wits.ac.za/Academic/Science/Stats/Home.htm |
| Free State | https://www.ufs.ac.za/natagri/departments-and-divisions/mathematical-statistics-and-actuarial-science-home/actuarial-study-support/exemption-agreement |
| North West (Potchefstroom Campus) | http://www.nwu.ac.za/bmi |
| Nairobi | http://www.uonbi.ac.ke |
How many actuarial sciences are there in South Africa?
South Africa has approximately 1100 practicing actuaries and 2000 actuarial students who have already completed their undergraduate studies.
How long is the Actuarial Science course in South Africa?
It takes, on average, 9 years to qualify as an actuary, of which 4 are normally full-time University studies and 5 years of part-time studies while the candidate is working.
Most employers offer study leave to their actuarial students as well as some form of subsidy towards the cost of further studies.
Are actuaries science in demand in South Africa?
Actuaries are on scarce and critical skills lists and in demand in the insurance and banking sectors. The BankSETA and INSETA are trying to attract actuaries to the sector and prominent firms such as Sanlam offer bursaries.
What are the requirements to study actuarial science in South Africa?
Mathematics: 7 (80%-100%) (Additional or Alpha Mathematics STRONGLY recommended) English or Afrikaans: 5 (60%-69%) Additional Language: 5 (60%-69%) An APS of 34 (Excluding Life Orientation)
Which actuarial science field is best?
Generally, the highest-paying job with a degree in actuarial science is an actuarial fellow in the area of property and casualty insurance, followed by actuarial science roles in other areas of the field, like life, health, and pension.