Bayes Business School, City St George's, University of London

MSc in Actuarial Management

Pre-Study Modules

• Introduction to R Programming
• Introduction to Python Programming

Both programming modules are highly recommended for all students on the programme. You are encouraged to undertake these modules so that you can get the most out of your degree.

Term 1

Compulsory Modules

• Actuarial Practice (CP1) - Part I
• Actuarial Practice (CP1) - Part II

Elective modules

• Life Insurance (SP2)
• Pensions and Other Benefits (SP4)
• General Insurance: Reserving and Capital Modelling (SP7)
• Finance and Financial Reporting (CB1)
• Business Economics (CB2)
• Enterprise Risk Management (non-exemption module)

Core Principles CB1 and CB2 are offered subject to availability as they are hosted by the MSc in Actuarial Science and students on that programme will be given priority. Similarly, the Enterprise Risk Management module is prioritised for students on MSc in Insurance and Risk Management/MSc in Corporate Risk Management.

Term 2

Compulsory Modules

• Actuarial Practice (CP1) – Part III

Elective modules

• Health and Care (SP1)
• Finance and Investment A (SP5)
• Finance and Investment B (SP6)
• General Insurance: Pricing (SP8)
• Financial Economics (CM2)
• Insurance Risk Modelling (CS2)
• Financial Risk (non-exemption module)

Core Principles CM2 and CS2 are offered subject to availability as they are hosted by the MSc in Actuarial Science and students on that programme will be given priority. Similarly, the Financial Risk module is prioritised for students on MSc in Insurance and Risk Management/MSc in Corporate Risk Management.

Students with a prior exemption from CP1 may also be exempted from Bayes CP1 – Parts I, II, and III, subject to the provision of evidence of the prior exemption. However, they will be required to replace these with certain modules in term 1 or 2 in accordance with the Course Director’s instructions.

Term 3

To complete the MSc in Actuarial Management, you have several options in your third term:

• Five electives plus Career Management Skills and Research Methods module
• Three electives plus a General Research project
• Modelling Practice (CP2), Professional Communication (CP3), two short electives plus the Career Management Skills and Research Methods module
• Modelling Practice (CP2), Professional Communication (CP3) and a General Research Project.

Subject to availability, you can also choose projects designed by our industry partners, including, for example, the Bank of England, Government Actuary’s Department and Guy Carpenter. Most of these projects are directly supervised by the industry partner representatives together with our academic staff.

Over the years, several students taking research projects with us have been recipients of the prestigious SCOR award.

• General Research Project
• Career Management Skills and Research Methods
• Modelling Practice (CP2)
• Professional Communication (CP3)

• Bayes Business School is among the global elite of business schools that hold the gold standard of 'triple crown' accreditation from AACSB, AMBA and EQUIS
• 5th in the UK for business and management research. A total of 92 per cent of our research was rated as world-leading (4*) or internationally excellent (3*) (The Research Excellence Framework 2021)
• 2nd best in London, 6th in the UK, 34th in Europe (Financial Times European Business School ranking 2025)
• 5th in the UK for Finance Research, 8th in the UK for Management (ShanghaiRanking's Global Ranking of Academic Subjects 2024)
• 1st in Europe for Actuarial Science research (UNL Business School Actuarial Science Rankings 2024)

By the end of this MSc, you will be able to:

• Understand the core practices and specialist principles of actuarial science.
• Apply models and integrate actuarial and financial principles into real-world insurance, pensions, and investment applications.
• Build practical skills in designing, developing, documenting, and communicating models with clarity and auditability.
• Translate complex technical and actuarial work into clear, concise communication for both technical and non-technical audiences.
• Develop deep technical expertise in a chosen practice area such as health, life, non-life, pensions, or finance and investment, preparing for advanced actuarial roles.
• Tailor your learning path to fill gaps in Core Principles based on your prior background.
• Gain hands-on experience using R and Python for analytics in Term 3.
• Progress efficiently towards full professional actuarial qualification, accelerating your career readiness and employability.

The MSc Actuarial Management equips you with the skills and connections for a rewarding career in actuarial roles within insurance, pensions, risk management, financial modelling, and consultancies, with graduates working both in the UK and internationally.

Graduates have secured roles including Pricing Analyst, Actuarial Manager, Actuarial Associate, Consultant, Actuarial Modelling Risk Analyst, and Senior Capital Analyst at employers such as AIG, Munich Re, Hymans Robertson, Liberty Mutual Insurance, Phoenix Group, and Zurich.

You will also have access to alumni panels, industry and office visits, careers fairs, industry overviews, guest speakers, company presentations, and workshops throughout the year.

Further opportunities to network and learn alongside like-minded peers are available through business clubs such as AIR-Q.