Bachelor of Science in Actuarial science – The course and where you can work.

The Bachelor of Science in Actuarial science is a relatively new course in Kenya, having been introduced some time around 1999 at the University of Nairobi.

Many universities are offering actuarial courses: University of Nairobi, JKUAT, Maseno, Moi, SEUCO, Mt. Kenya University, Strathmore. If we were to include the constituent colleges, they would add up to around 13.. Statistics is likely to be a major component of the course. One will be taught to calculate complex premiums such as in the insurance companies, calculate such risk events as floods, mortality etc. The insurance industry is one of the major employers of actuaries.

 After getting the degree, one will need to do the specialized actuary exams in order to become a fully qualified actuary. There have been hundreds, if not thousands of actuarial science graduates that have been trained in the past decade, but very few qualified actuaries; the ones who have done the professional exams. As of 2008, there were about eight qualified actuaries in the country. Major employers include the insurance companies, investment firms, banks where one can be employed as a risk analyst. Alexander Forbes seems to be the preferred employer that many actuaries would want to work for.

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