A Bermudian teenager has taken his first step towards becoming a qualified actuary after passing an exam that is typically completed by college students.

Former Saltus pupil James Leitch, 16, started studying for Exam P in January after buying a manual.

It soon became a father-and-son project, with James and his dad, Trevor, a Fellow of the Casualty Actuarial Society professional, studying almost every day together — sometimes up to three hours, on top of schoolwork and other activities.

James, who moved to Florida with his family in 2024, said: “That’s why I want to be an actuary, because I saw my dad doing it.

“There’s a story in our family about when I was in foundation year, they asked all the kids to make posters describing what they wanted to be in later life. Apparently I said — an actuary.”

The three-hour multiple-choice paper tests candidates on probability theory and real-world applications.

“I had to learn a lot of different equations for the different distributions I would have to know. I also had to learn calculus,” James said.

“When I started out, I didn’t have all the skills, so I had to learn them. My dad gave me the why behind the questions, rather than just the how.”

He added: “Most people don’t take these exams until college. It’s really great to be able to get this head start. It’s a lengthy process — there are eight exams.

“We tried to aim for about two or three hours of studying every day. I’m not sure we actually hit that most days, but we were pretty consistent.”

James, a keen open-water swimmer outside of the classroom, said he was open to returning home at some point in the future.

“I know a lot of companies that employ actuaries are all over the place. But it would be awesome to go back to Bermuda and spend more time with family.”

Home-schooled, the teenager is getting ready to start his junior year of high school. He hopes to complete all eight exams before joining a company.

Sylvia Oliveira, president of Actuaries of Bermuda and chief executive of Wilton Reinsurance, offered her congratulations.

She said: “As founder and president of the Actuaries of Bermuda, I am thrilled to congratulate James Leitch on passing Exam P at just 16 years old — a truly remarkable achievement.

“Actuarial exams are extremely challenging, and candidates generally do not attempt their first exam until their late university years.

“To see someone so young pass their first actuarial exam is genuinely exciting.

“Supporting the next generation of Bermudian actuaries is central to our mission, and James is a wonderful example of the talent we have.

“We hope his achievement inspires other young Bermudians to consider the profession, and we look forward to supporting him as he continues his studies.”