The Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market, NARXOZ and JSC Insurance Indemnity Guarantee Fund signed an agreement on training and retraining of personnel within the framework of the educational programme "Actuary" dated 12 June 2023.
The purpose of the agreement is to meet the needs of the insurance sector for qualified actuaries within the framework of the "Applied Finance" programme, which has been implemented by Narxoz University for 20 years and is supported by the international agency FIBAA. The diplomas of graduates of this programme are recognised throughout the European Higher Education Area.
According to Kazakh legislation, every insurance organisation must have an actuary on its staff. From 2025, one of the members of the executive body of the insurance organisation must have documents confirming completion of at least fifty percent of the courses of the minimum compulsory training programme for actuaries.