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

MSc in Actuarial Science

By the end of this MSc, you will:

• Apply mathematical, probabilistic, and modelling techniques to solve real actuarial and business problems.
• Develop advanced expertise in life contingencies, insurance risk modelling, finance and investment.
• Build the knowledge and exemptions needed to progress towards qualification as a fellow actuary.

Pre-Study Modules

• Introduction to R Programming
• Introduction to Python Programming

Both programming modules are designed to provide a fundamental understanding of R and Python. They are highly recommended for all the students on the programme. You are encouraged to undertake these modules so that you can get the most out of your degree. Completing these two modules will also help you with the computer-based elements of the CM and CS subjects.

Term 1

Compulsory Modules

• Financial Mathematics (CM1(1))

Elective Modules

• Probability and Mathematical Statistics (CS1)
• Finance and Financial Reporting (CB1)
• Business Economics (CB2)
• Analytics Methods for Business (non-exemption module)

Term 2

Compulsory Modules

• Contingencies (CM1(2))

Elective Modules

• Financial Economics (CM2)
• Insurance Risk Modelling (CS2)
• Machine Learning (non-exemption module)

Students with a prior exemption from CM1 may also be exempted from Bayes CM1(1) and CM1(2), subject to the provision of evidence of the prior exemption. However, they will be required to replace these with other term 1 and 2 modules.

Term 3

To complete the MSc in Actuarial Science, 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)

The MSc Actuarial Science 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, Reserving Analyst, Graduate Associate, Trainee Actuarial Consultant, ESG Analyst, and Actuarial Analyst at employers such as KPMG, AIG, AON, Samsung Life Insurance, Pacific Life Re, Vitality, and Canada Life.

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 Business Analytics and AIR-Q.