FANews
FANews
RELATED CATEGORIES
SUB CATEGORIES General | 

More South African women qualify as actuaries

08 October 2014 Sandra Dunn, INSETA
Featured above are aspirant actuaries who attended this year’s Annual SAADP Ladies High Tea.

Featured above are aspirant actuaries who attended this year’s Annual SAADP Ladies High Tea.

At the annual Ladies High Tea hosted by the South African Actuaries Development Programme (SAADP), the Executive Director, Nokwanda Mkhize announced significant progress with increasing the number of women actuaries.

In the light of low throughput rate of women actuarial graduates, INSETA started and sponsors the annual event called the “Ladies High Tea”.

Sandra Dun, INSETA’s CEO says: “The aim of this small but very important event is to congratulate the SAADP ladies who have graduated and also qualified. We would also like to motivate the women who are still studying towards their undergraduate degree.”

When the SAADP was established in 2003, there were no African qualified actuaries. There were 66 white woman actuaries, 1 Indian and 2 coloureds. Lately there has been a steady increase of both actuarial graduates and qualified actuaries.

The SAADP’s actuarial programme’s stats below reveal the progress that has been made since then:

 

FELLOWS (Fully qualified actuaries)

Total No. of Fellows = 14

The main elements of the SAADP’s programme include:

• Student recruitment and selection programme
• Student support programme which comprises of three elements viz: financial support; academic support and emotional and social support
• Programme governance

Ms Mkhize says, “These days it is not difficult to get black women matric learners who are very good in Maths and Physical Science (as these are the main subjects that we look at for Actuarial Science admission). The problem is to get them to succeed and graduate with an Actuarial Science degree. However we are working hard to give them the necessary support that will help them cope with pressures associated with Actuarial Science.”

She says the partnership between INSETA and SAADP started in 2010. “We have seen the following:

• significant increase in the student intake
• the ripple effect is that we have seen the increase in the number of graduates produced by the SAADP
• significant increase in the number of the schools that the SAADP visits every year to raise the awareness of the Actuarial Science profession among the grade 11 and 12 learners especially in the black communities
• lastly and very importantly INSETA has provided us with enough funding to run the programme and has given us some strategic guidance on the running the programme.”

“INSETA believes so much in the mission and vision of the SAADP. This is a huge motivation for the SAADP’s staff to work even harder in the achievement of the organisation’s objectives.”

“We are very grateful to have a sponsor and partner like INSETA who understand and execute their role in the Insurance Sector. In future, when we talk about transformation in the actuarial fraternity, INSETA would have played a very significant role.”

 

Quick Polls

QUESTION

The shocking crime and motor vehicle accident statistics shared during a recent SHA presentation suggests that group personal accident and personal accident cover are a no-brainer. Do you agree?

ANSWER

Yes
No
Not sure
fanews magazine
FAnews April 2024 Get the latest issue of FAnews

This month's headlines

FAIS Ombud lashes broker for multiple compliance blunders
TCF… a regulatory misfit initiative?
The impact of NHI on medical malpractice insurance
Fixed versus variable: can you have your cake and eat it too?
The future world of work
Subscribe now