Program Highlights

The actuarial and risk management specialization at Ono Academic College has been developed based on professional consultation with the Israel Association of Actuaries, the professional body for qualified actuaries and individuals in education and training in that field in Israel.
Upon completing this program and mandatory actuarial courses, graduates will receive an Actuarial Analyst degree. With the completion of additional exams, graduates are entitled to an international actuary degree accredited by the British Institute of Actuaries.
This is the only program in Israel tailored to the actuarial profession, focusing on the applied principles that students will need to support their careers in the field.


The actuarial and risk management program has been developed based on professional consultation with the Israel Association of Actuaries, the professional body responsible for qualified actuaries and students pursuing education and training in this field in Israel. The association has a mutual recognition agreement with the British Institute of Actuaries that provides students with opportunities for international accreditation.

The combination of actuarial science and risk management in this master’s degree in business administration program is a natural progression, given the synergy between these fields in practice. Many core business administration courses (economics, accounting, financial management, statistics, mathematics, risk management) are required and integral components of actuarial studies. This program includes study of these topics at the highest level.

Graduates of this specialization are thoroughly prepared for the first of the two stages of international actuary certification, meeting standards for both international and Israeli industry requirements. The program provides opportunities for graduates to transition from internships to key managerial roles in risk management and analysis. 


The program provides the following:

  1. Eligibility for a master’s degree in business administration (MBA) with a specialization in actuarial science and risk management.
  2. Graduates who successfully complete all core actuarial subject exams (which meet British curriculum standards) and accumulate three years of work experience in a relevant field are entitled to recognition as actuarial analysts by the Israel Association of Actuaries.
  3. The British Institute of Actuaries recognizes this program’s core exams as progress toward entry or senior actuary certification as an Associate of the Institute of Actuaries and a Fellow of the Associate of the Institute of Actuaries, respectively.


Among the subjects of study:

  • Finance and Financial Management for Actuaries (CB1)
  • Economics for Actuaries (CB2)
  • Statistical Theory for Actuaries (CS1A)
  • Software Applications in Statistical Theory for Actuaries (CS1B)
  • Mathematics for Actuaries (CM1A)
  • Mathematical Excel applications in actuarial studies (CM1B)
  • Risk Management Models for Actuaries (CS2A)
  • Stochastic Models in Actuarial Science (CM2A)
  • Excel applications for stochastic models (CMB2)
  • Actuarial Practice (CP1)
  • Practical workshop in actuary
  • Managing business negotiations
  • Business strategy
  • Entrepreneurship and business innovation
  • Labor Law and Managers Ethics 

To download the program brochure, for the 2023-2024 academic year, with the full list of courses (not including the core courses) – click here

To download the information booklet for the 2023-2024 academic year, an MBA master’s degree that includes the core courses – click here

I Believe
Dr. Ido Kallir Head of the program
Actuarial studies are truly for life. The variety of occupations and positions in Israel and abroad is so extraordinary that there is no actuary who gets bored of the profession – he simply switches fields. The international training program creates a situation where personal development does not end at the completion of the degree either. Even holders of the international actuary expert degree continue to study and earn additional diplomas.

Our Program Graduates Speak

Ono Academic College has carefully developed our actuarial courses and workshops to meet the strict standards and approval of the British Institute of Actuaries.

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