Alliance Insurance Company is seeking a highly motivated and analytical Graduate Trainee-Actuarial Analyst to join our team at the Maseru Head Office. The program 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, playing a key role in ensuring the financial soundness and competitiveness of our insurance product portfolio.
Job Summary
- Type: internship
- Location: Maseru
- Category: Actuarial
- Closing Date: 2026-06-01
Key Responsibilities
- 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. - Perform expense analysis and lapse and withdrawal analysis.
- Conduct mortality experience analysis
- Document all experience analysis processes and maintain relevant records.
- Perform product management analysis including product 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.
Requirements
- 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 advantageous
- Knowledge of insurance products will be beneficial
- High level of of accuracy when working with financial data, models and reports
- Solid foundation mathematics, statistics and data analysis
- Learning agility
- Communication skills
- Teamwork and collaboration
How to Apply
Interested applicants may send an application which includes copies of relevant certification, CV and motivation for the position by sending an email at careers@alliance.co.ls by the 𝟏𝐬𝐭 𝐉𝐮𝐧𝐞 𝟐𝟎𝟐𝟔.
Only short-listed candidates will be contacted in response to this advertisement.
Only short-listed candidates will be contacted in response to this advertisement.
About the Company
Alliance Insurance Company (Pty) Ltd stands as a key financial services provider within Lesotho, operating from its distinctive Alliance House on 4 Bowker Road in Maseru. As an authorised financial services entity, it is dedicated to offering comprehensive insurance products and a variety of financial solutions. The company serves both individual Basotho clients and businesses, helping them secure their assets and future. Through its regulated operations, Alliance Insurance plays a vital role in fostering financial stability and peace of mind across the nation.
Your trusted partner for comprehensive insurance solutions in Lesotho.
Website: https://www.alliance.co.ls/
Frequently Asked Questions
What qualifications or education do I need to apply for an Actuarial Analyst Graduate Trainee position at an insurance company in Lesotho?
Most employers require a bachelor's degree in Actuarial Science, Mathematics, Statistics, or Economics from a recognized institution such as the National University of Lesotho. Progress with actuarial exams from the Institute and Faculty of Actuaries (IFoA) or the Society of Actuaries (SOA) is highly advantageous, even if not yet completed.
What are the typical day-to-day responsibilities of an Actuarial Analyst Graduate Trainee?
You will assist senior actuaries with data collection, statistical analysis, and preparing reports for pricing and reserving. Daily tasks often include using Excel and actuarial software to model risk, validate data, and support product development teams.
How does the work culture and employer expectations differ in Lesotho compared to larger markets like South Africa?
Lesotho's insurance sector is smaller, so trainees often gain broader exposure across departments rather than specializing immediately. Employers value reliability, respect for hierarchy, and strong interpersonal relationships, with less formalized graduate programs than in Johannesburg or Cape Town.
What career progression can I expect after completing the graduate trainee program?
Successful trainees typically advance to Junior Actuarial Analyst within two to three years, then to Actuarial Analyst as exam progress continues. Long-term paths include specialization in pricing, reserving, or risk management, with senior roles requiring fellowship qualification.
What employee benefits are commonly offered for entry-level actuarial positions in Lesotho?
Standard benefits usually include medical aid contributions, pension or provident fund membership, and annual leave of around fifteen to twenty-one days. Study leave for actuarial exams is often negotiable and highly valued, though policies vary significantly by employer.
How should I apply, and what do Lesotho insurance employers look for in candidates?
Submit a concise CV and cover letter directly to the company's HR department or through advertised channels like local newspapers and LinkedIn. Employers prioritize strong academic results, proficiency in Excel and statistical tools, demonstrated analytical thinking, and commitment to completing professional actuarial exams.