IRA Opens Doors for Kenyan Students: Fully Funded Masters Scholarships in the UK
The Insurance Regulatory Authority (IRA) has just opened an exciting opportunity for ambitious Kenyans. Eight fully funded scholarships are now available for those looking to pursue a Master of Science in Actuarial Management at the prestigious BAYES Business School in the United Kingdom for the 2026/2027 academic year.
For aspiring actuarial professionals, this is more than just a scholarship—it’s a chance to study at one of the UK’s leading institutions for risk management and insurance education.
Why This Scholarship Matters
Actuaries are the backbone of the insurance industry. They use math and statistics to assess risks, price insurance products, and shape the future of financial security. According to IRA, “This scholarship will cater for tuition, travel, accommodation and any other incidental expenses associated with the programme.”
In other words, everything is covered. Students can focus entirely on their studies, without worrying about the financial burden of living and learning abroad.
About the IRA
The Insurance Regulatory Authority is a state corporation set up under the Insurance Act, Cap 487 of the Laws of Kenya. Its main role is to regulate, supervise, and foster growth in the insurance sector. By sponsoring these scholarships, the IRA is investing in the next generation of actuarial leaders who will drive innovation and resilience in Kenya’s insurance industry.
Who Can Apply?
Not everyone can apply. The IRA has outlined three main eligibility criteria:
- Education: A Bachelor of Science in Actuarial Science with at least Upper Second-Class Honors, or an equivalent qualification.
- Graduation Timeline: Candidates must have graduated within the last five years.
- Professional Progress: Applicants should have made significant progress toward becoming a Fellow of the Institute and Faculty of Actuaries, with at least five professional papers completed.
The Authority also noted that candidates with First Class Honors will enjoy a competitive edge.
How to Apply
Applying is straightforward. Candidates can download the application forms directly from the IRA website. Once filled, the form must be submitted along with:
- Copies of identification
- Academic transcripts or result slips
- Academic certificates
- Birth certificate
- School leaving certificate
Applications can be mailed to:
The Chief Executive Officer
Insurance Regulatory Authority
P.O. Box 43505-00100
Nairobi
Or sent via email to: scholarships@ira.go.ke
The deadline is Monday, 2nd March 2026, at 5:00 pm. Only shortlisted candidates will be contacted for further steps.
The IRA encourages applicants to double-check that all documents are included and that the form is complete before submission.
This is a rare opportunity for Kenyans aiming to make a mark in actuarial science. With tuition, travel, and living expenses fully covered, it’s a chance to study at one of the UK’s top institutions and return home with world-class skills.
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IRA Opens Doors for Kenyan Students: Fully Funded Masters Scholarships in the UK