31 December 2025
The Insurance Authority has announced the launch of the second phase of its Master's Program in the Actuarial Science track and the Insurance & Risk Management track, designed to prepare national talent for specialized technical roles. The program is delivered in collaboration with Bayes Business School in the United Kingdom and coordinated with the Saudi Financial Academy.
The launch of the second phase, set to commence in 2026, follows the success of the first phase introduced in 2025. The program aims to develop human capital within the insurance sector and to prepare academically and professionally qualified national leaders in line with global best practices.
The official spokesperson of the Insurance Authority, Sultan bin Mohammed Al-Qahtani, stated that the Master's Program in Actuarial Science and Insurance forms part of the Authority's efforts to equip the next generation of young national talent specializing in technical roles. It is also among the initiatives launched by the Authority to empower national competencies, enhance their readiness to lead the insurance sector, achieve self-sufficiency in critical and specialized insurance fields, and promote innovation across the insurance ecosystem, ultimately elevating industry practices and contributing to the objectives of the Financial Sector Development Program under Saudi Vision 2030.
Al-Qahtani added that participants in the Actuarial Science track will receive accreditation from an actuarial institute recognized by the Society of Actuaries. Participants in the Insurance & Risk Management track will receive accreditation from the Chartered Insurance Institute (CII) in the United Kingdom and the Institute of Risk Management, both recognized by the International Association of Insurance Supervisors.
It is worth noting that in 2025, the Insurance Authority launched several initiatives in this domain, including the rollout of the first phase of the program and the organization of the Lloyd's Training Boot Camp, which trained 95 national professionals in the sector.