The appointment of an actuarial service provider to provide Land Bank Insurance SOC LTD (“LBIC”) with head of actuarial function services (“HAF”) for a period of 5 years

Overview

The appointment of an actuarial service provider to provide Land Bank Insurance SOC LTD (“LBIC”) with head of actuarial function services (“HAF”) for a period of 5 years. LBIC is seeking a qualified actuarial firm to supply HAF services. Eligible bidders are actuarial firms with HAF capability, including a Fellow of the Actuarial Society of South Africa (FASSA), a non-life insurance practising certificate (PC), and appropriate professional indemnity coverage; the bid includes IFRS17/SAM work and regulatory capital obligations. (See T14-10-26)

Requirements

• Proposed HAF must be provided by the bidder and be a FASSA member; provide copy of FASSA certificate and current standing.
• Bidder must have an individual in employment as the proposed HAF with a valid Non-life Insurance Practising Certificate that is not expired at closing; provide PC for nominated HAF and backup; ensure no restrictive limitations on sign-off.
• Proof of Professional Indemnity Cover of at least R2,000,000 (or a signed undertaking to obtain proof within 5 working days of appointment).
• Provide a price proposal in the prescribed template for each scope of work per year and over the 5-year period.
• Stage two evaluation includes: company experience in HAF/non-life actuarial services, number of non-life clients, detailed HAF CVs, and references. (Annexure F and Stage 2 criteria; also see Annexure E for SBD6.1) (T14-10-26)

How to Apply

• Express interest by emailing Tenders@landbank.co.za with: name of company, contact person(s), phone, CSD registration number, BBBEE level, email address. This notice allows sharing critical tender information. (T14-10-26)
• Non-compulsory briefing: 20 October 2026 at 11:00 via Teams; briefing link available in the tender notice. Written clarifications close 23 October 2026, 16:00; responses by 27 October 2026, 16:00.
• Submission: by 11:00 on 5 November 2026; hand-delivered to Land Bank Head Office Tender Box, Lakefield Office Park, Block A, 272 West Avenue, Die Hoewes, Centurion; provide 1 original plus 1 USB (same contents). (T14-10-26)
• Documents to submit: official bid forms (SBD1, SBD4, SBD6.1), Annexures A–H, price schedule, VAT/TCS/CSD/SARS compliance, and company information. Failure to provide required documents may render the bid non-responsive. (Annexure F; Annexure E)

Notes: The RFP and associated Service Level Agreement are detailed in T14-10-26 and Annexure G (SLA). Compliance with tax, CSD, and information security controls is required.