The Insurance Regulatory Authority (IRA) has opened a golden door for Kenyan professionals, announcing eight fully funded scholarships for a Master of Science in Actuarial Management at the prestigious Bayes Business School in London.

A Strategic Investment in Talent

In a bid to fortify Kenya's financial services sector with world-class expertise, the Insurance Regulatory Authority (IRA) has launched its 2026/2027 scholarship programme. The authority is seeking the "cream of the crop" to fill eight coveted spots at Bayes Business School (formerly Cass Business School) in the United Kingdom. This initiative is not merely an educational grant; it is a strategic capacity-building measure designed to deepen the pool of qualified actuaries in East Africa.

The scholarship is comprehensive, covering the full cost of tuition, return air travel, accommodation, and a living stipend. For the selected few, it represents a life-changing opportunity to train at one of the globe's leading centers for actuarial science, gaining skills that are in critically short supply in the local market.

The High Bar for Eligibility

The IRA has set stringent criteria to ensure only the most dedicated and capable candidates make the cut. The "free ride" to London is reserved for those who have already proven their mettle:

• Academic Excellence: Applicants must hold a Bachelor of Science in Actuarial Science with at least Second Class Honors (Upper Division). First Class Honors holders will have a distinct advantage.
• Recent Graduates: The opportunity is open to those who graduated within the last five years, ensuring the candidates are fresh and ready for rigorous academic work.
• Professional Progress: Crucially, applicants must show significant progress toward professional accreditation, having completed at least five professional papers from the Institute/Faculty of Actuaries.

Closing the Skills Gap

Kenya's insurance industry has long struggled with a shortage of qualified actuaries—the mathematical architects who calculate risk and ensure the financial stability of insurance firms.By sponsoring training at a top-tier UK institution, the IRA is directly injecting high-level technical skill into the market. These scholars are expected to return and drive innovation in product design, risk management, and regulatory compliance.

Interested candidates have until Monday, March 2, 2026, at 5:00 pm to submit their applications. With the clock ticking, the race is on for Kenya's brightest mathematical minds to secure their ticket to London and a future at the helm of the industry.