Alliance Insurance Company
Position
Actuarial Analyst Graduate Trainee
Location
Maseru Head Office
Job Summary
Alliance Insurance Company is seeking a highly motivated and analytical Graduate Trainee – Actuarial Analyst to join its team.
The programme offers structured training, mentorship, and exposure to real business challenges, enabling the graduate to build a strong foundation in actuarial practices and progress towards professional actuarial qualifications.
The successful candidate will contribute to actuarial valuations, experience analysis, product pricing, and strategic projects, supporting the financial soundness and competitiveness of the company’s insurance product portfolio.
Key Responsibility Areas
- Perform PAA (Premium Allocation Approach) valuations, including IBNR calculations, modelling, experience analysis, and performance analysis
- Perform GMM (General Measurement Model) liability valuations for funeral, credit life, and investment products
- Conduct expense analysis, lapse and withdrawal analysis
- Conduct mortality experience analysis
- Document all experience analysis processes and maintain relevant records
- Perform product management analysis, including performance monitoring and reporting
- Support product development initiatives through actuarial modelling and feasibility studies
- Assist with asset-liability matching models and Capital Adequacy Requirement (CAR) calculations
Qualifications, Experience and Competencies
- Bachelor’s Degree in Actuarial Science (minimum requirement)
- Progress towards FASSA qualification (Actuarial Society of South Africa) is an added advantage
- No prior work experience required – graduates are encouraged to apply
- Exposure to actuarial modelling software, Excel, R, or Python is advantageous
- Knowledge of insurance products will be beneficial
- High level of accuracy when working with financial data, models, and reports
- Strong foundation in mathematics, statistics, and data analysis
- Learning agility
- Good communication skills
- Teamwork and collaboration
Duration
- 12 or 18 months experiential learning
How to Apply
Interested applicants should submit:
- Curriculum Vitae (CV)
- Copies of relevant certifications
- Motivation letter for the position
Applications must be sent via email to:
[email protected]
Closing Date
1 June 2026
Important Notice
Only shortlisted candidates will be contacted.