Actuarial Science

Actuarial Science is the application of mathematics, statistics, and risk theories to the design of insurance and pension programs. Actuaries' areas of expertise are extensive and involve a wide range of business aspects such as, operations research, finances, economics, investment analysis, analysis of medical risk, accounting, legal and regulatory aspects of insurance and pensions, among others. In other words, actuaries apply mathematical skills to the business environment, and they are experts in risk management. The actuarial profession offers continuous challenges and it requires a strong mathematical ability along with proficiency in various business skills. It is also a rewarding career with excellent opportunities for intellectual development and financial gain.

An actuary is a Fellow of the Canadian Institute of Actuaries (FCIA); this professional designation is granted after three years of practical experience and successful completion of a series of required courses.  Members can achieve their fellowship by completing the Society of Actuaries exam system (covering life insurance, health insurance and pension topics) or the Casualty Actuarial Society exam system (covering property and casualty insurance topics).  Under the Canadian Institute of Actuaries University Accreditation Program, University of Regina students can obtain exemptions to up to four preliminary exams under either system.

The BSc in Actuarial Science is the only program of its kind in Saskatchewan, and it is one of only 11 programs nationally that are accredited by the Canadian Institute of Actuaries.

Further information on Actuarial Designations and Qualifications can be found at the Canadian Institute of Actuaries.