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OSU Earns Prestigious Center of Actuarial Excellence Designation

July 9, 2025

OSU Earns Prestigious Center of Actuarial Excellence Designation

Center of Actuarial Excellence logo

The Society of Actuaries (SOA) has awarded Ohio State University’s Actuarial Science program the prestigious designation of a Center of Actuarial Excellence (CAE). This recognition is granted to universities with outstanding actuarial programs and provides opportunities to compete for education and research grants.

To qualify as a CAE, actuarial programs must meet a rigorous set of criteria, including a comprehensive curriculum that equips students with the necessary knowledge to become Associates of the Society of Actuaries (ASA). Additionally, programs must consistently produce a significant number of highly sought-after graduates who are trained by expert faculty renowned for their active research contributions. Strong industry connections are also essential, demonstrated through initiatives such as career fairs and robust alumni networks.

Ohio State’s actuarial science program was established in 1979 by Professor Bob Brown, making it one of the first institutions to offer a standalone major in the field. When Brown became chair of the Department of Mathematics in 1994, Professor Bostwick Wyman took over as program director. Under their joint leadership, the program quickly rose to prominence, becoming the top actuarial science program in Ohio. In Spring 2006, Professor Chunsheng Ban, based at Ohio State’s Mansfield campus, assumed leadership of the program.

Under Professor Ban’s direction, the program experienced remarkable growth. By 2016, enrollment had reached 379 students, and a master’s program was launched that same year. The pursuit of CAE designation began shortly before his retirement in 2023. It was driven by a series of strategic enhancements that included faculty recruitment, curriculum modernization, and initiatives aimed at improving student career outcomes. These efforts were informed by valuable input from alumni and advisory board members, ensuring the program remained aligned with industry needs.

OSU now proudly stands as one of only 24 CAEs in the United States, and one of 11 universities offering bachelor's, master's, and PhD level training in actuarial science. This distinction is particularly noteworthy among the 245 US universities with recognized actuarial science programs. We are excited to welcome our first two PhD students in the Autumn semester of 2025, marking another milestone in our program's continued excellence.