MSc Actuarial Science

Course description

The MSc in Actuarial Science provides a strong grounding in the mathematics of actuarial science and addresses both the current and future needs of the industry. The programme incorporates all mathematical techniques, in particular from the fields of probability and statistics, a modern actuary could not do without. Our programme offers the following exemptions under the IFoA's new Curriculum 2019: CS1, CS2 (Actuarial Statistics) and CM2 (Actuarial Mathematics). If you are interested in developing a career as an actuary, this programme of study will provide the ideal entry platform into a broad range of employment sectors, such as Insurance, Finance and Risk Management.

Special features

Our MSc Actuarial Science programme

Our MSc Actuarial Science programme was established in 2011 with the aim of providing a thorough training in the mathematical tools and skills an actuary needs. This includes topics such as

• Markovian models and pricing techniques relevant to life insurance
• Risk models, ruin theory, risk measures, premium principles and further techniques relevant to general insurance
• Modern theory of market consistent pricing (mathematical finance), such as the Black and Scholes asset pricing model, the Capital Asset Pricing Model (CAPM), interest rate models, credit risk models, option pricing etc.
• Risk management techniques
• Relevant topics from Statistics such as Time Series and their applications, Generalised Linear Models, Survival Analysis etc.
• Relevant software suites such as R and Excel.

Coursework and assessment

There are two teaching semesters of 12 weeks each and approximately 15 weeks of project work. Assessment for the taught part is by exams and coursework.

Career opportunities

If you are interested in developing a career as an actuary, this programme of study will provide the ideal entry platform into a broad range of employment sectors, such as Insurance, Financial and Risk Management.

The entry requirement to the programme is normally a good upper second class honours degree in Mathematics/Statistics, a Science degree with a strong quantitative component, a subject with a substantial mathematical content, or an equivalent overseas qualification in a mathematical subject. In particular, knowledge of probability and statistics equivalent to good second year undergraduate Mathematics degree level is required for entry to the programme.