MSc Applied Actuarial Science (International Masters)
Canterbury, United Kingdom
DURATION
2 Years
LANGUAGES
English
PACE
Full time
APPLICATION DEADLINE
Request application deadline
EARLIEST START DATE
Aug 2025
TUITION FEES
EUR 23,900 / per year
STUDY FORMAT
On-Campus
Key Summary
Introduction
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.
Gallery
Admissions
Scholarships and Funding
Scholarship value
The award covers tuition fees, return airfares and living costs for a one-year taught Master's programme.
Deadline
Deadline for Commonwealth application: - 12 December 2024.
Hold an unconditional offer (with the only outstanding condition, international fee deposit) of a programme of study from the University of Kent - 31 January 2025
Criteria
To be eligible to apply for this scholarship, candidates must:
- Hold an undergraduate degree at UK first-class level equivalent.
- Be a citizen of or have been granted refugee status by one of the eligible Commonwealth countries listed or be a British Protected Person.
- Be a permanent resident in one of the eligible Commonwealth countries listed above.
- To be committed to the University of Kent, you can apply for more than one course and/or to more than one University, but you may only accept one offer of a Shared Scholarship.
- Not have studied or worked for one (academic) year or more in a high-income country.
- Be unable to afford to study in the UK without this scholarship.
- Return to their home country as soon as their period of study is complete. In some circumstances, a student may be permitted to remain in the UK if seeing doctoral study and satisfy certain strict conditions.
- Hold an offer by the deadline for a full-time postgraduate taught degree on one of the eligible courses at the University of Kent:
- MSc Artificial Intelligence
- MSc Infectious Diseases
- MSc Cyber Security
- MA International Negotiation and Conflict Resolution
- MSc Applied Actuarial Science
- MSc Conservation Science
- MA English and American Literature
- MSc Artificial Intelligence
- MSc Infectious Diseases
- MSc Cyber Security
- MA International Negotiation and Conflict Resolution
- MSc Applied Actuarial Science
- MSc Conservation Science
- MA English and American Literature
Further details
Commonwealth Shared Scholarships, set up by DFID in 1986, represent a unique partnership between the United Kingdom government and UK Universities.
Funded by the UK Department of International Development (DFID), Commonwealth Shared Scholarships enable talented and motivated individuals to gain the knowledge and skills required for sustainable development. They are aimed at those who could not otherwise afford to study in the UK.
These scholarships are offered under six themes:
- Science and technology for development
- Strengthening health systems and capacity
- Promoting global prosperity
- Strengthening global peace, security and governance
- Strengthening resilience and response to crises - Access, inclusion and opportunity.
How to apply
To be considered for the Commonwealth Shared Scholarship you must:
- Make a formal application for a postgraduate degree at the University of Kent commencing September 2025/26. This can be done online here.
- Complete the Commonwealth Scholarship Commission (CSC) online application process. For information on how to do that and full details of the application process please go directly to the Commonwealth Scholarships webpages.
- Applications will be considered based on Academic Excellence and a completed application.
- The Commonwealth will accept applications until 12th December 2024 (closing at 16:00 GMT).
Curriculum
Stage 1
Introduction to Excel
Stage 2
- Actuarial Risk Management 1
- Actuarial Risk Management 2
- Communications
Program Outcome
Programme aims
This programme aims to:
- provide you with eligibility for subject exemptions from the Core Practices and Specialist Principle series of examinations of the Institute and Faculty of Actuaries. This means obtaining a thorough knowledge of core actuarial applications, developing the ability to apply this knowledge in a practical situation and gaining current knowledge and understanding of the practice of major areas in which actuaries are involved
- develop your understanding, knowledge and awareness of current problems, much of which is at the forefront of current professional practice
- ensure you are competent in the use of information technology, and are familiar with computers, together with the relevant software.
Learning outcomes
Knowledge and understanding
You will gain knowledge and understanding of:
- complex techniques applicable to the solution of problems in all the major areas of current professional actuarial practice
- complex current issues in all the major areas of current professional practice.
Intellectual skills
You develop intellectual skills in:
- the ability to demonstrate a high level of understanding of the main body of knowledge for the programme
- the ability to demonstrate skill in calculation and manipulation of the material written within the programme
- the ability to apply a range of concepts and principles in various contexts
- the ability for logical argument
- the ability to demonstrate advanced skills in solving problems in complex situations by various appropriate methods
- the ability to work with relatively little guidance.
Subject-specific skills
You gain subject-specific skills in:
- the specific mathematical and statistical techniques used in actuarial science, and in their application to solving actuarial problems
- understanding the practical applications of programme material in insurance.
Transferable skills
You will gain the following transferable skills:
- communication: the ability to organise information clearly, respond to written sources, present information orally, adapt style for different audiences and use images as a communication tool
- numeracy: make sense of statistical materials, integrate numerical and non-numerical information, understand the limits and potentialities of arguments based on quantitative information
- information technology: produce written documents, undertake online research, communicate using email
- improve your learning: explore your strengths and weaknesses, time management, review your working environment (especially the student-staff relationship), develop specialist learning skills (eg foreign languages), develop autonomy in learning
- problem-solving: identify and define problems, explore alternative solutions and discriminate between them
- working with others: define and review the work of others, work co-operatively on group tasks, and understand how groups function
- make sound judgements
- make decisions in complex situations.
Program Tuition Fee
Career Opportunities
The UK Actuarial Profession
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.
Survey results published by the Institute and Faculty of Actuaries suggest that the average basic salary for a student actuary is £35,936 with pay and bonuses increasing sharply as you become more experienced. The average basic salary of a Chief Actuary is £206,236.
As an actuary, your work is extremely varied and can include: advising companies on the number 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 the 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.
Employability support
Helping our students to develop strong employability skills is a key objective within the School and the University. We provide a wide range of services and support to equip you with transferable vocational skills that enable you to secure appropriate professional positions within the industry. Within the School we run specialist seminars and provide advice on creating a strong CV, making job applications and successfully attending interviews and assessment centres.
Our graduates have gone on to successful careers in the actuarial, finance, insurance and risk sectors.
Professional Recognition
Fully accredited by the Institute and Faculty of Actuaries. Students who achieve a high enough overall mark can obtain exemptions from the professional examinations included in their studies.
Program delivery
How you'll study
Teaching and assessment
Assessment is a combination of coursework and written examinations.
Program Admission Requirements
Show your commitment and readiness for Grad school by taking the GRE - the most broadly accepted exam for graduate programs internationally.