Hi Guys, I am looking for some advice regarding ST7, I have no experience of general insurance, however it in an area that I would like to move into. Given this, would it be advisable to sit this exam, or is it an exam that you would be better to sit after working a year in in the industry?. My background would be pensions but I need to pick another ST to do.
If you really like to move into GI, carefully check the syllabuses of ST7 - focus on reserving and ST8 - focus on pricing. Having some working experience under your belt would definitely be helpful.
Although some GI experience might help (with either ST7 or ST8), it isn't essential by any means. But bear in mind that you'll need to have studied both ST7 and ST8 if you end up sitting SA3.
Is it a requirement to do ST7 and ST8 to do SA3, or advisable, I already have ST4, so don't really want to do an extra ST. What is the general consensus of trying to move into an area without having done the exam in that area - for example would it be impossible to moved into general insurance if I choose not to sit ST7/8 or SA3. I know quite a few people who have qualified as a pensions actuary having studied none of the exams, but at the same time they have never left pensions.
You don't have to have passed ST7/8, but you definitely need to have studied both. There's quite a bit of overlap between ST7 and ST8 though, and some techy bits that you can probably afford to skim. So it wouldn't be as bad as doing a whole extra ST. A have a few mates that have done it this way, so it's not impossible. Not impossible to move into GI without them - but definitely much trickier. Not sure I'd risk it. Good luck!
