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The Actuary The magazine of the Institute & Faculty of Actuaries

ST3 replacement subjects announced for April 2010

The current ST3 — General Insurance Specialist Technical will be replaced by two Specialist Technical subjects in General Insurance (ST7 and ST8). The first offering of these exams will be in April next year. One subject will cover reserving and capital modelling, the other will cover rating and reinsurance.

If you are intending to study or are studying the general insurance specialist route, the following information will be of particular interest to you in helping you to decide study patterns for the next few sessions.

1. If you have achieved ST3 by 31 December 2009 (either by examination pass or by way of an exemption) then you will not be able to take ST7 or ST8 to count as your second ST subject. This is due to the substantial overlap between ST3 and each of the two new subjects.

2. If you wish to take ST7 and ST8 and count these as your two ST subjects, then you can opt to discount your ST3 pass or exemption and this would then be treated as an additional ST subject.

3. From April 2010, SA3 will be based on the learning from both ST7 and ST8. If you have passed ST3 only, then you may wish to familiarise yourself with the material of ST7 and ST8 before taking the SA3 examination.

Further details, such as a release of sample exam papers, will appear shortly. In the meantime, however, if you have any questions, please add them to the ST3 bulletin board or send them to the exams team at examinations@actuaries.org.uk