Principals of Actuarial Accounts

  • Duration: 1 Day
  • Language: Ar & En
Courses Description

This program aims to guide the newly hired actuarial employee in an insurance company or one of the risk studies and actuarial consulting centers to learn how to develop his professional future and the requirements for completing his/her studies. It also aims to identifying the basic actuarial techniques used in daily work

Target Audience

  • Newly hired actuarial staff in insurance companies
  • Underwriting departments’ employees of insurance companies
  • Risk management staff in insurance companies and banks
  • Actuarial science students
  • Actuarial science graduates


Participants at the end of this program will be able to:

  • Supporting the plan of Saudization of actuaries in the Kingdom, which is proposed by SAMA, by directing the graduates of the actuarial sciences towards the steps of completing their accreditation as actuarial experts at the Saudi Arabian Monetary Agency (SAMA) and the necessary skills to work in various fields. An actuary is significant for he/she uses forecasting models to determine the requirements for services in different regions and then master development plans
  • Supporting the employees of the actuarial / underwriting / risk management departments towards refining their practical experience besides their studies of raising the level of their performance in their companies.
  • Creating a new generation of Saudi experts who have practical experiences directed towards their tasks in a specific and clear manner

Assessment Strategy

  • Pre and Post training test to measure knowledge and learning levels
  • Engage trainees in exercises and group activities
  • Evaluation form to be filled by trainees

Module 1: Being a certified actuary

  • What is an actuary according to academic, professional and legal concepts?
  • The various working fields of the actuary
  • How to become an actuary certified by the Saudi Arabian Monetary Agency
  • Qualifications required to become a certified actuary
  • The actuary’s main working area is insurance:
  • Work requirements
  • Other non-traditional areas
  • Study requirements from institutes certified by the Saudi Arabian Monetary Agency

Module 2: Primary actuarial tasks: General insurance reserves account

  • Types of general insurance products in the Kingdom
  • An introduction to the actuarial tasks performed on a daily basis in the actuarial department of an insurance company, including reserves accounting, pricing and risk management
  • Accounting the necessary reserves for general insurance in the insurance companies and the methods used (specific methods)
  • Accounting the necessary reserves for general insurance in the insurance companies and the followed methods (using statistical models)

Module 3: Primary actuarial tasks: reserves account of protection and saving insurance

  • Types of protection and saving products in the Kingdom of Saudi Arabia
  • Reserves accounting for protection products only
  • Reserves accounting for both protection and saving products.
  • Reserves accounting for products of loan protection

Module 4: Primary actuarial tasks: data analysis, pricing, risk management

  • Big data analytics concept
  • Pricing general insurance products
  • Pricing protection and saving insurance products
  • The concept of risk management

Module 5: The legal and professional framework of the actuarial expert and training evaluation

  • Professional requirements for work as a certified actuary
  • Evaluation (1) reserves accounting
  • Evaluation (2) pricing and risk management
  • Summary of the training program and general discussion
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