The Saudi Insurance Authority has agreed a framework that will see multiple employees and industry practitioners enrol for the Bayes’ MSc in Insurance and Risk Management and the MSc in Actuarial Science or MSc in Actuarial Management.
The agreement runs for a minimum of three academic years, starting in September.
Dr Cormac Bryce, who is Director of the MSc in Insurance and Risk Management and the Lord Mayor’s City of London’s Research Fellow, said the agreement would benefit the Saudi Arabian students, their fellow students, Bayes academics and several stakeholders in the growing Saudi Arabian insurance industry.
“It is our positioning at the interface of the insurance and actuarial professions that creates opportunities like this. We are pleased to be supporting the Saudi Insurance Authority and the insurance and actuarial science professions in the kingdom. The diverse range of post-graduate students and academics at Bayes fosters a tremendous atmosphere conducive to the exchange of knowledge and insights from different cultures. We look forward to welcoming our new cohort in September.”
Professor Ioannis Kyriakou, Director of the two actuarial science MScs, said: “A strength of Bayes’ post-graduate education is the opportunity it offers to meet and learn from academics and fellow students drawn from a range of cultures. The Saudi students will be taught by qualified actuaries, academics and other subject-specialists with commercial experience and research expertise.”
His Excellency Eng. Naji Al-Tamimi, CEO of the Saudi Insurance Authority, commented on the agreement, saying: “Partnering with a leading global academic institution such as Bayes Business School reflects our commitment to investing in world-class education that will directly support the growth and transformation of Saudi Arabia’s insurance sector. At the Saudi Insurance Authority, we believe in the capabilities of our national talents and their potential to shape a sustainable and competitive future for the industry. This scholarship initiative enables a select group of Saudi professionals to gain specialised knowledge and international exposure that will empower them to lead with impact.”
The agreement was confirmed at the recent summit for chief risk officers hosted by Alderman Alastair King, Lord Mayor of London and City St George’s Rector.
The Lord Mayor said: “I warmly welcome this collaboration with the Saudi Insurance Authority. As a global centre for insurance, reinsurance, and risk management, strengthening UK ties with key international markets such as the Kingdom of Saudi Arabia is vital to maintaining and advancing our leadership in the sector.
"As Rector and an Honorary Visiting Professor at Bayes Business School, I encourage partnerships that not only strengthen educational and professional links globally, but also exemplifies how knowledge exchange can support the development of resilient, future-ready financial systems. I commend both the Saudi Insurance Authority and Bayes for their commitment to building talent pipelines that will shape the future of the insurance sector."
The event, at the Mansion House, was attended by the Saudi Insurance Authority CEO, His Excellency Eng.Naji Al-Tamimi, and Bayes Dean, Professor Andre Spicer.
During the summit Dr Bryce spoke about key findings from the research he and Bayes colleagues had undertaken in his role as the Lord Mayor’s City Research Fellow for 2024/25.
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