General Insurance

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There are 3 General Insurance modules: Reserving and Capital Modelling Specialist Principles (SP7), Pricing Specialist Principles (SP8) and Specialist Advanced (SA3), and these comprise key assessments for candidates working in the field of general insurance.

The new curriculum builds upon material covered in the predecessor modules, with enhancements including covering changes applicable to the general insurance environment, the legislative and regulatory environment, the products sold, risks and risk management, pricing (SP8), and reserving and capital modelling (SP7). Key developments for SA3 include capturing a broad spectrum of examples of how general insurance business is conducted in different territories, in particular considering differences in regulation, solvency and capital requirements, and products sold in different markets.

General Insurance Reserving and Capital Modelling Principles (SP7)

Specialist Principles

The aim of General Insurance Reserving and Capital Modelling Principles (SP7) is to instil in successful candidates the ability to apply, in simple reserving and capital modelling situations, the mathematical and economic techniques and the principles of actuarial planning and control needed for the financially-sound operation of general insurers.

It builds on material covered in earlier subjects, particularly Financial Engineering and Loss Reserving CM2.

General Insurance Reserving and Capital Modelling Principles (SP7) core reading is available from the IFoA E-Shop or our tuition provider ActEd (BPP).

From September 2021, an additional 5 minutes has been added to each paper to allow for candidates to download or print, if required, their exam paper.

Resources for SP7

Past papers and examiners reports for SP7 

SP7 Syllabus for 2024 Exams (PDF, 84 KB)

SP7 Syllabus for 2025 Exams (PDF, 100 KB)

General Insurance Reserving and Capital Modelling Principles (SP7) core reading

Exam format: 3 hours and 20 minutes of computer-based exams (Word)

Recommended study hours: 200

 

General Insurance Pricing Principles (SP8)

Specialist Principles

The aim of General Insurance Pricing Principles (SP8) is to instil in successful candidates the ability to apply, in simple pricing analysis situations, the mathematical and economic techniques and the principles of actuarial planning and control needed for the financially-sound operation of general insurers.

It builds on material covered in earlier subjects, particularly Actuarial Statistics 2 (CS2) Financial Engineering and Loss Reserving CM2.

General Insurance Pricing Principles (SP8) core reading is available from the IFoA E-Shop or our tuition provider ActEd (BPP).

From September 2021, an additional 5 minutes has been added to each paper to allow for candidates to download or print, if required, their exam paper. 

Resources for SP8

Past papers and examiner reports for SP8 

SP8 Syllabus for 2024 exams (PDF, 102 KB)

SP8 Syllabus for 2025 exams (PDF, 90 KB)

General Insurance Pricing Principles (SP8) core reading

Exam format: 3 hours and 20 minutes of computer-based exams (Word)

Recommended study hours: 200

General Insurance Advanced (SA3)

Specialist Advanced

The aim of General Insurance Advanced (SA3) is to instil in successful candidates the ability to apply knowledge of the general insurance environment (in the United Kingdom and other jurisdictions) and the principles of actuarial practice to the management of general insurance business in complex situations.

General Insurance Advanced (SA3) core reading is available from the IFoA E-Shop or our tuition provider ActEd (BPP).

From September 2021, an additional 5 minutes has been added to each paper to allow for candidates to download or print, if required, their exam paper.

Resources for SA3

Past papers and examiners reports for SA3 

SA3 Syllabus for 2024 exams (PDF, 174 KB)

SA3 Syllabus for 2025 exams (PDF, 110 KB)

General Insurance Advanced (SA3) core reading

Exam format: 3 hours and 20 minutes of computer-based exams (Word)