Full list of actuaries in South Africa, including their contact details for … – Briefly

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The number of actuaries in South Africa is increasing, considering a statistical analysis released by one of the foremost societies in the profession. However, the seeming growth is painstakingly slow compared to other occupations. This is despite the economic forecast that the demand for actuaries in the country will significantly increase in the coming years.
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How many actuaries are in South Africa? According to available data, the number of practising actuaries is 1,754 as of the first quarter of 2022. Although this is an increase from 1,586 in 2021, it still shows a considerable gap between demand and supply for professionals in this practice.
Several firms across South Africa are in the active practice of actuarial science. These organisations and others ensure that over 1,700 actuaries are gainfully employed. Below are some of them and their contact details:
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Actuaries are essential in the financial industry's smooth running, especially in the insurance sector. Their work borders majorly around the uncertainty analysis and risks surrounding financial costs.
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The average actuary uses statistics, financial theory, and mathematics to evaluate the hazard in future occurrences while helping clients and businesses to invent guidelines to mitigate the cost of risk.
There is no doubt about the shortage of supply of actuaries to the actual demand that the industry requires. About 2.1 million people are formally working in South Africa's finance industry in the third quarter of 2021, but actuaries account for less than 0.1 per cent of these statistics.
According to a publication by the Actuarial Society of South Africa, it takes between eight years to a decade for an actuary to be made. This is because apart from the five years students must spend obtaining a bachelor's degree in actuarial science, they must undergo at least three years of additional professional studies.
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During this period, they must pass more than a dozen technical skills examinations before becoming a Fellow of the Actuarial Society of South Africa.
The statistics of actuaries in South Africa as of 2022 show that about 75 per cent of the practitioners are white while other races, including Blacks, Indians, and Asians, make up the remaining 25 per cent. However, Mike McDougall, the CEO of the Actuarial Society of South Africa (ASSA), believes that this dynamic is about to change.
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