5 Actuarial Sciences Degree Programs in Canada

Mathematics is a driving force behind many of today’s advancements in medicine, economics and business, and science and technology. As a Bachelor of Mathematics student, you can choose from a broad range of program options, such as actuarial science, mathematics, statistics, etc., according to your interests and career goals.

Actuarial Science is the study of risk, usually risk associated with insurance, pension, and investment plans. Actuarial Science uses techniques from mathematics, statistics, business, economics, and finance. The Bachelor of Science with a Major in Actuarial Science prepares students to write the early exams required to become an Actuary.

In this program, you'll take courses such as the mathematics of finance, risk theory, and pension mathematics taught by professional actuaries in one of North America’s top actuarial schools. Meanwhile, adding computer science, arts, and various math electives will give you the combination of technical and communication skills that employers are looking for.

Actuarial Science scholars ask questions such as: How is the premium rate for flood insurance calculated? Can an insurance company cover all of their claims? What is the value of a company’s pension commitments? Actuarial Science is concerned with the construction of models and solutions for financial, business, and societal problems involving uncertain future events. During the course of your studies, much of your learning will occur while actively working on problems in class and during tutorials. By exploring the complicated world of financial risk, this degree will equip you with the fundamental and practical tools you’ll need to assess and forecast risk in order to make sound financial decisions.

Actuarial Science is the area of mathematics that applies quantitative methods to assess risks in the insurance and finance industries. It became a formal discipline in the late 17th century, when the increased demand for such long-term insurance coverages as life insurances, annuities, and burials expense coverages emerged.