Investing in the profession of the actuary expert is a strategic necessity – ryan

The Egyptian Insurance Companies Union said that investing in the profession of the actuary expert is a strategic necessity to achieve the goals of economic and social development, in light of a growing and multi -risk economy such as Egypt.

The Federation explained, in the weekly newsletter, that the actuarian expert represents the thinker and the guarantor of the stability and sustainability of the insurance industry, as it is not just a numbers analyst, but a vital financial engineer that guarantees the success of the sector through assessing complex risks, developing insurance products, identifying fair prices, and effective contribution to promoting rational governance and financial stability of companies.

The Egyptian Insurance Companies Union stated that the challenges facing this profession, such as the lack of cadres and the difficulty of studying, require continuous attention and concerted efforts to ensure the continuity of its development.

He added that with the increasing complexities of financial markets and global risks, the need for actuarial experts will continue to be continuously increasing, which makes the development of this profession an investment in the future, ensuring the construction of a strong insurance sector capable of protecting the wealth of individuals and institutions, attracting investments, and enhancing the stability of the Egyptian financial system.

On the initiative of the General Authority for Financial Supervision and the role of the Egyptian Insurance Companies Union in supporting the rehabilitation of the actuarial cadres, the Federation clarified in its publication that under the auspices of the Financial Supervision Authority, a cooperation protocol was signed at the end of 2023 between the Egyptian Insurance Companies Union and the American University in Cairo to rehabilitate and develop capabilities and graduate new batches of qualified actuarians to work in the insurance market, by providing the first professional diploma specialized in actuarial sciences for graduates, In light of the fact that the numbers of actuarians in Egypt are not commensurate with the current market size, which contributes to developing and increasing the contribution of the insurance sector to the national economy.

He pointed out that this step contributes to supporting the stability and development of the insurance industry in Egypt, because of its utmost importance in supporting the Egyptian government’s plans to achieve economic and social development, and provides the Egyptian Insurance Companies Union and the African Insurance Company and the Fund for the Protection of the Rights of Documentation Campaign, joint financing for this program.

According to the protocol, the American University designed and presented specialized study programs in the actuarial sciences, in line with the latest international academic and professional standards, and the first quarter of 2025 witnessed a number of students of the first batch, where 12 students succeeded in passing the first path designated for non -specialists in the actuarial sciences, and 3 students were able to pass the first exam in the Association of Experts “SOA” within the path within the track the second; Recently, registration for the second batch of the professional diploma specialized in actuarial sciences has been opened, according to the Federation Bulletin.

The bulletin pointed to the organization of a workshop in cooperation with the Financial Supervisory Authority and the Faculty of Trade at Cairo University, which dealt with the topic “Market Consent Versus Model Consisteent Values”, with the aim of enhancing knowledge and developing capacity in the field of actuarial sciences and its applications.

In July 2025, the Egyptian Insurance Companies Federation signed a cooperation protocol with the Faculty of Commerce – Cairo University, with the aim of supporting and qualifying students of the Actura Sciences Program and providing them with the knowledge and practical experience that qualifies them for effective integration in the Egyptian insurance market.

Under this protocol, the Federation provides a full scholarship to a maximum of 40 students from the students of the “Sports Scientific” division of the Actura Sciences Program, which includes the payment of academic expenses throughout the study period “four years”.

The Federation provides practical training opportunities during the study and summer holidays for students who obtained the scholarship through insurance companies operating in the Egyptian market with the aim of refining professional skills and achieving integration between the theoretical and practical aspect of actuarial rehabilitation.

This cooperation represents a direct investment in preparing and qualifying specialized cadres that meet the increasing demand for actuarial experiences, and contributes to raising the efficiency of the Egyptian market and keeping pace with global developments in the field of risk management, pricing and insurance subscription.

The Federation is also participating as a strategic partner in the regional forum of the Association of Actuarial Experts, which will be held from September 28-29, 2025 in Cairo; The forum aims to support and enhance the profession of the actuary expert.