Life Actuary – Valuation & Pricing

About the role

Abacus Life Limited is seeking a Life Actuary to lead the valuation of its life insurance portfolios under the IFRS 17 framework and the Solvency Assessment and Management (SAM) regime. The role combines actuarial valuation, product development and pricing, and requires close collaboration with Operations, Finance and the Data Team.

Key responsibilities

• Perform monthly, quarterly, half‑year and year‑end valuations of life insurance contracts in line with IFRS 17 GMM and PAA requirements.
• Develop, maintain and enhance proxy valuation models for regular reporting and conduct bottom‑up valuations for statutory reporting.
• Lead product development and pricing initiatives, ensuring models meet best‑practice standards and are delivered on time.
• Present valuation results to the Chief Actuary, the Product and Valuation Approval Committee and external auditors.
• Support quarterly and annual regulatory returns, SCR forecasts, ORSA scenario planning and ad‑hoc analytics such as loss ratios and acquisition costs.

Required profile

• Fellow (FASSA) or Associate (AMASSA) of the Actuarial Society of South Africa, or equivalent qualification.
• 5–8 years actuarial experience covering both life and non‑life portfolios, with at least 2 years hands‑on IFRS 17 GMM/PAA valuation.
• Strong knowledge of IFRS 17, SAM/ECR regulatory frameworks and actuarial modelling standards.

Required skills

• Proficiency with actuarial valuation tools such as Mo.net, Prophet, MoSes and Risk Integrity.
• Programming and data‑handling skills in SQL and Python.
• Expertise in IFRS 17 implementation, SAM capital modelling and assumption setting.