The Bachelor of Science in Actuarial Sciences at NWU is a three-year degree offered at Potchefstroom and Vanderbijlpark that prepares students for the actuarial profession — one of South Africa's most intellectually demanding and financially rewarding careers. Students develop advanced skills in probability, statistics, financial mathematics, and actuarial modelling, providing the academic foundation required to pass the professional examinations of the Actuarial Society of South Africa (ASSA) and its international equivalents. South Africa has a well-developed insurance, pension, and banking sector that employs qualified actuaries in pricing, reserving, capital management, and risk strategy roles. The degree is accredited to exempt students from initial actuarial examinations, accelerating their path to fellowship qualification.
Mathematics: Level 6 (70-79%)
APS: 32
Actuarial Analyst – Perform pricing, reserving, and valuation calculations for South African life insurers such as Discovery, Sanlam, Old Mutual, or Liberty under ASSA and SARB oversight.
Short-Term Actuary – Develop models for motor, property, and liability insurance pricing and reserving at South African short-term insurers such as Outsurance, Hollard, or Santam.
Pension Fund Actuary – Value and advise on the financial health, investment strategy, and sustainability of South African retirement funds under the Pension Funds Act.
Risk and Capital Actuary – Model regulatory capital requirements and stress scenarios for South African insurers and banks under the SAM and Basel III frameworks.
Consulting Actuary – Provide independent actuarial advice on products, valuations, and strategy to South African clients across insurance, banking, government, and healthcare sectors.
