Actuarial Science MSc, 1 year, full-time

Problem solver. Business analyst. Risk assessor. An actuary wears many hats, but that’s what makes a career out in the field so rewarding. With a Masters in actuarial science, you’ll have the skills to make your mark in a range of industries.

Department
Mathematics

MSc Actuarial Science Admissions Team
+44 (0)116 229 7407
mathspg@le.ac.uk

Mathematics website

Course description

Course description

  • The range and content of modules on the Actuarial Science MSc is currently being revised. The course content (and associated accreditation) shown on this page reflects what is available to students starting in 2018. Course content for the 2019 degree will be posted here when confirmed.

Do you enjoy solving problems? Do you enjoy analysing and interpreting large amounts of data and applying this analysis to real business situations? Could you communicate complex financial and risk models to people at a range of levels? A career as an actuary is a highly rewarding one – both financially and intellectually.

Actuaries are problem-solvers, business analysts, consultants and risk assessors, all rolled into one. With this degree under your belt, the skills you have learned could be applied to the worlds of insurance, pensions, healthcare, banking, business management and risk assessment. You will be equipped with mathematical and statistical knowledge and problem-solving skills to help businesses and institutions evaluate the long-term financial implications of the decisions they make.

You may already be employed as a trainee actuary within a firm, or be a recent graduate looking to get into the industry, it could be that a career change is your reason for studying this course. Whichever it is, an Actuarial Science degree from the University of Leicester will provide you with a head start within this lucrative career.

By concentrating on both technical expertise and transferable skills (such as communication and problem solving) this postgraduate degree will prepare you for direct entry into the profession and a successful career. You will leave Leicester equipped with the skills and knowledge to evaluate and interpret different forms of data, analyse risk and present your results to a professional audience, and with an understanding of how to apply this knowledge to real problems using the fundamental techniques required by an actuary.

Leicester is one of the first universities to fully embed the Institute and Faculty of Actuaries' Curriculum 2019 syllabus into our Actuarial courses. This means we integrate more business-focused knowledge and skills, such as data science and predictive analytics, as well as focusing more keenly on the development of personal and professional competencies. With the added benefit of a professional skills and employability module, this will help you become more work-ready in a competitive environment.

What’s the difference?

For an MSc you will take four modules in Semester 1, four modules in Semester 2, and either two modules or a research project over the summer.

For the IFoA exemption, you will need to take all 12 available modules – requiring extra work. You must have strong mathematical aptitude, be prepared to work very hard and be confident that you can dedicate the extra time and effort required. Please discuss this with the Actuarial Science Admissions Team mathspg@le.ac.ukbefore applying.

Also please note that the extra two modules will not count towards the accreditation of your degree, and that each additional module incurs an additional fee.

Download a prospectus

Entry requirements

Entry requirements

At least a 2:1 in a relevant subject. This will usually be Maths, Statistics or Physics as you will need a solid background in maths including knowledge of calculus, linear algebra, ordinary differential equations, basics of probability and statistics. We will consider graduates from other subjects on an individual basis.

English Language Requirements

IELTS 6.0 or equivalent. If your first language is not English, you may need to provide evidence of your English language ability. If you do not yet meet our requirements, our English Language Teaching Unit (ELTU) offers a range of courses to help you to improve your English to the necessary standard.

International Qualifications

Find your country in this list to check equivalent qualifications, scholarships and additional requirements.

Countries list

Fees and funding

Fees and funding

UK and EU Students

Starting in September 2019

  • £10,630

An additional fee of £400 is payable for each of the two optional modules should they be required.

Find out more about scholarships and funding.

Did you know you can apply for a Government Postgraduate Loan? Find out if you’re eligible.

International Students

Starting in September 2019

  • £19,930

An additional fee of £400 is payable for each of the two optional modules should they be required.

You will need to pay a deposit of £2,000 to secure your place. This will be subtracted from your total tuition fee.

Find out more about scholarships and funding.

Accreditation

Accreditation

Our Actuarial Science degrees are accredited by the Institute and Faculty of Actuaries (IFoA). This MSc offers a fast track route to qualifying as an actuary. Obtaining a good overall mark across your modules can lead to exemptions from the IFoA CT1-8 exams.

Careers and employability

Careers and employability

Our Career Development Service is here to support you, with advice on interviews, CVs, work experience, volunteering and more. From Freshers’ Week to Graduation and beyond, they are here to help you reach your professional goals.

Related courses

Related courses

Course structure

Semester 1

Semester 1

Core modules

  • Theory of Interest (CT1)
  • Statistics (CT3)
  • Models (CT4a)
  • Mortality (CT4b)

Optional extra module

  • Financial Mathematics (CT8a)

The modules on this course correlate with the eight-part Core Technical (CT) syllabus of the Institute and Faculty of Actuaries, as indicated. For exemption from all the IFoA exams, you should take all five modules.

Modules shown represent choices available to current students. The range of modules available and the content of any individual module may change in future years.

Semester 2

Semester 2

Core modules

  • Finance and Financial Reporting (CT2)
  • Further Statistics (CT6a)
  • Applied Statistics (CT6b)
  • Contingencies (CT5)

Optional extra module

  • Financial Engineering (CT8b)

The modules on this course correlate with the eight-part Core Technical (CT) syllabus of the Institute and Faculty of Actuaries, as indicated. For exemption from all the IFoA exams, you should take all five modules.

Modules shown represent choices available to current students. The range of modules available and the content of any individual module may change in future years.

Summer

Summer

Option modules

Either: Business Economics (CT7) and Business Awareness and Critical Thinking

Or: Actuarial Science Research Project

The modules on this course correlate with the eight-part Core Technical (CT) syllabus of the Institute and Faculty of Actuaries, as indicated. For exemption from all the IFoA exams, you should take the two taught modules rather than the research project.

Modules shown represent choices available to current students. The range of modules available and the content of any individual module may change in future years.

Why Leicester?

Mathematics at Leicester has a successful history of delivering quality actuarial education at both undergraduate and postgraduate level.

We enjoy links with the financial and actuarial industry, ensuring that this course has been developed with the needs of key employers in mind - which means that graduates from this course are highly employable.

We enjoy links with the financial and actuarial industry, ensuring that this course has been developed with the needs of key employers in mind - which means that graduates from this course are highly employable.

Teaching and learning

Teaching methods include lectures, seminars, computer practicals, online learning resources and intensive workshops. Assessment is a mixture of coursework assignments, mini-projects, oral presentations and written exams.

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Course Qualification Duration Start Dates Availability
Course Actuarial Sciences Qualification MSc Duration 1 year full-time Start Dates September each year Availability Apply Now