Postgraduate

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Actuarial Science PhD

This is a research programme within the Actuarial Science subject area.

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Key facts

Outline

The PhD in Actuarial Science offers the opportunity to begin or consolidate your research career under the guidance of internationally renowned researchers and professionals at the SMSAS. The School has a strong reputation for world-class research and a well-established system of support and training, with a high level of contact between staff and research students.

Areas of interest include economic capital and risk management for financial services firms, and all areas of mortality and longevity research. Other research topics in the School include genetics and insurance, insurance economics, pensions and corporate reporting.

Programme structure

For further information see the School site.

Funding

Every school at Kent offers one or two University postgraduate research scholarships, each available for three years, providing fees at the home/EU rate and a stipend up to £13,590 per annum (2011/12 rate).
Many schools offer scholarships in the form of Graduate Teaching Assistantships (GTAs) whereby postgraduate research students receive financial support in return for teaching. The value of awards may vary, but often cover tuition fees at the home/EU rate and a substantial maintenance grant. All postgraduate research students are eligible to apply for GTAs. See www.kent.ac.uk/scholarships/postgraduate/GTA.html
The School of Mathematics, Statistics and Actuarial Science has established a bursary scheme to support students who wish to study on one of the following taught postgraduate programmes:

  • Actuarial Science PDip
  • Applied Actuarial Science MSc
  • International Master's in Applied Actuarial Science.

The School will award bursaries between £500 and £1,500. All applicants who accept a place on one of the above courses will automatically be considered for a bursary. Overseas and home/EU fee-paying students are all eligible. There is no formal closing date, but we recommend you apply for your chosen programme before the end of July 2012. For further details on general funding opportunities, see the student finance pages

Further information:

Resources and facilities

The University's Templeman Library houses a comprehensive collection of books and research periodicals. The University of Kent has entered into an exclusive arrangement with SunGard, a global leader in integrated software and processing solutions primarily for financial services, who market the industry's leading actuarial software package PROPHET. As a result, our taught postgraduate courses include optional modules on the uses and applications of PROPHET.

Further information:

Research groups

Genetics and insurance risks

Advances in human genetics, and medical sciences in general, have led to many gene discoveries; a number of single-gene disorders have been successfully identified and studied in detail. Researchers are now increasingly focusing on common multifactorial genetic disorders such as cancer, heart attack and stroke, caused by interaction of genes and environmental factors. It is important for the insurance industry to understand the full implications of these latest developments. Firstly, can an insurer justify charging different premium rates to different risk groups? Secondly, if insurers are not allowed to discriminate between individuals based on their genes, by regulation or by law, is there a risk of adverse selection?

From a public policy perspective, regulators and governments face the dilemma of whether to regulate against genetic underwriting or to allow market economies to take their own course. On one hand, there is a moral obligation not to discriminate against individuals for their genetic make-up. On the other hand, risk of adverse selection against insurance firms cannot be ruled out altogether. Maintaining an appropriate balance between the two is key.

Economic capital and financial risk management

Financial services firms are in the business of accepting risks on behalf of their customers. Customers do not always have the time or expertise to handle financial risks on their own, so they pass these on to financial services firms. However, even the most reputable firms can sometimes get it wrong, so it is fundamentally important for all stakeholders that financial services firms hold an appropriate amount of capital calculated on a robust scientific basis, to back the risks they are running. Economic capital can provide answers by specifying a unifying approach to calculating risk-based capital for any firm in the financial services sector.

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Staff research

Dr Lothar Breuer: Reader in Statistics
Stochastic processes; queueing theory; risk theory; Markov-additive processes.

Professor Paul Sweeting: Professor of Actuarial Science
Pensions; mortality trend risk; mortality rating; Longevity markets.

Dr Pradip Tapadar: Lecturer in Actuarial Science
Economic capital and financial risk management; genetics and insurance; Haplotyping analysis via genetic algorithm.

Mr R Guy Thomas: Honorary Lecturer in Actuarial Science
Genetics and insurance; insurance economics; accident compensation.

Professor Stephen Walker: Professor of Statistics
Bayesian inference; Bayesian nonparametric methods; time series; survival analysis; MCMC; matrix algebra.

Further information:

Contact details

Admissions enquiries
T: +44 (0)1227 827272
E: information@kent.ac.uk
Subject enquiries
The Admissions Officer,
Postgraduate Studies in Actuarial Science,
School of Mathematics, Statistics and Actuarial Science,
Cornwallis Building, University of Kent,
Canterbury, Kent CT2 7NF, UK
T: +44 (0)1227 827181
F: +44 (0)1227 827932
E: imsadmin@kent.ac.uk

Further information:

Publishing Office - © University of Kent

The University of Kent, Canterbury, Kent, CT2 7NZ, T: +44 (0)1227 764000

Last Updated: 13/09/2011