Applied Actuarial Science MSc University of Kent School of Mathematics, Statistics and Actuarial Science

Our MSc in Applied Actuarial Science is fully accredited by the Institute and Faculty of Actuaries; it also provides a fast-track route to qualifying as an actuary, because students who achieve a high enough overall mark in this programme can obtain exemptions from the professional examinations included within their studies. Actuaries evaluate and manage financial risk. They make financial sense of the future for their clients by applying advanced mathematical and statistical techniques to solve complex financial problems.

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Actuaries evaluate and manage financial risk. They make financial sense of the future for their clients by applying advanced mathematical and statistical techniques to solve complex financial problems.

Qualifying as an actuary is a passport to a wide variety of careers in insurance companies, investments, pensions, health care and banking – not just in the UK, but throughout the world.

The MSc is available as a full-time (one-year) programme and is suitable for those who have completed a first degree, postgraduate diploma or our MSc in Actuarial Science, or those who have studied the majority of the earlier subjects in the Core Principles Stage. Students who achieve a high enough overall mark in our programmes can obtain exemptions from the professional examinations included within their studies.

As one of the few universities to offer actuarial science in the UK, Kent’s programme is recognised for its strong mix of theoretical and practical expertise. The teaching staff include many actuaries drawn from professional practice, along with specialised researchers.

Aims

The UK Actuarial Profession is small, but influential and well rewarded. There are more than 6,500 actuaries currently employed in the UK, the majority of whom work in insurance companies and consultancy practices.

As an actuary, your work is extremely varied and can include: advising companies on the amount of funds to set aside for employee pension payments; designing new insurance policies and setting premium rates; pricing financial derivatives and working in fund management and quantitative investment research; advising life insurance companies on he distribution of surplus funds; and estimating the effects of possible major disasters, such as earthquakes or hurricanes, and setting premium rates for insurance against such disasters.

Course structure

Duration: 1 year full-time

The course is based on a ‘core modules plus options’ structure and exemptions can be gained from professional examinations.

You must take 180 credits in order to pass the MSc. If you take fewer than 180 credits, you may be eligible for the Postgraduate Diploma in Applied Actuarial Science.

Modules

The following modules are indicative of those offered on this programme. This list is based on the current curriculum and may change year to year in response to new curriculum developments and innovation.  Most programmes will require you to study a combination of compulsory and optional modules. You may also have the option to take modules from other programmes so that you may customise your programme and explore other subject areas that interest you.

Compulsory modules currently include

  • MACT9210 - Actuarial Risk Management 1
  • MACT9220 - Actuarial Risk Management 2
  • MACT9530 - Communications

Optional modules may include

  • MACT9090 - Enterprise Risk Management 
  • MACT9120 - Life Insurance
  • MACT9150 - Finance and Investment
  • MACT9160 - Derivative Securities
  • MACT9170 - General Insurance Reserving and Capital Modelling 
  • MACT9180 - General Insurance Pricing
  • MACT9230 - Introduction to Actuarial Research
  • MACT9500 - Prophet
  • MACT9520 - Financial Modelling
  • MAST9420 - Data Science with R
Cost of the master: Not declared
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University of Kent
School of Mathematics, Statistics and Actuarial Science

        Applied Actuarial Science MSc

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