Actuaries require a high degree of numerical literacy and are trained in mathematics, probability and statistics. They apply analytical, statistical and mathematical skills to financial and business problems, especially those which involve uncertain future events, such as in life insurance, general insurance, risk management, health care financing, investments, corporate finance, banking, retirement funding and social security. They are able to provide realistic solutions to complex problems with a long term forward view. They are recognised to be pragmatic, innovative and numerate.
At Wits ten Fellow actuaries are on the permanent staff, the largest complement of any South African university. In addition, a further six Fellows are employed on a sessional lecturer basis.
Our Actuarial lecturers have extensive practical experience and participate actively in professional, business and community affairs providing exposure to practical case studies.
Students receive a strong statistical foundation for their actuarial courses, with statisticians working together with the actuaries to provide courses tailored to the needs of both professions.
Wits is the only university on the African continent that offers exemption from 12 of the 13 professional Actuarial examinations through a four year study path.
Students who are interested in majoring in the Actuarial Sciences need a high degree of mathematical literacy.
Career opportunities exist in insurance, finance, risk management, banking, investments and healthcare.