Actuarial Science is the discipline concerned with the study and application of mathematical, statistical, probabilistic, and financial theories to solve real life and business problems. The traditional areas in which actuaries operate are: life and general insurance, pensions, and investment. Actuaries are also increasingly moving into other fields like health insurance, solvency measurements and asset- liability management, financial risk management, mortality and morbidity investigation and so on, where their analytical skills can be employed.
Actuarial science involves the study of a number of interrelating courses and disciplines, including probability, mathematics, statistics, finance, economics, financial economics, and computer programming to define, analyse and solve the financial implications of uncertain future events.
Applicants must Elective Mathematics and any two (2) of the following elective subjects: Physics, Chemistry, Economics, Business Management, Principles of Costing and Accounting.
The demand for actuaries is estimated to be very high both presently and for the future. A career as an actuary offers challenges and rewards. One will attain a high professional status with considerable job satisfaction. Actuaries are problem solvers, business analysts, consultants and financial risk assessors all rolled into one. Their skills are applied in the world of insurance, pensions, healthcare, banking, business management and risk assessment. This field also offers immense intellectual challenges and high incomes.